Concerns/Issues

SENIORS AND COVID SUPPORT

Any Canadian senior eligible for Old Age Security will be receiving a one-time, automatic, $300 supplement from the federal government to help deal with the stresses of COVID-19.

This generous offering will be dearly needed by some, while others may in fact be getting along well, within their current resources.

What a genuine act of kindness it would be if those who are able to function without this one-time payment were to donate it to any number of local organizations assisting the vulnerable in our community. Offering what we might, to those truly in need, would exemplify the true spirit of being Canadian, and lift the spirits of so many amongst us who could feel sincerely respected and supported by fellow citizens in such stressful times.

Bob Sutton
Camlachie ON
519-869-6945

Pensions and Retirement Concers - Rosanne Orcutt: The 2019 inflation adjustment rate will be 2.2%. As of June 2018 our OTPP has assets of $193.9 billion. There are 184,000 active teachers and 119,000 retirees. That is a ratio of 1.3 to 1. Teachers on average tend to live at least two years longer than the general population. In 1970 the average teacher collected a pension for 20 years. In 2017 the average teacher collected for 32 years.
Social isolation is now recognized as a major problem amongst seniors. Please think about visiting or just making a phone call to someone you know who might be in that position.

HOW THE FEDERAL GOVERNMENT COULD INFLUENCE OUR PENSIONS

BILL C27

Bill C27 is a Federal Bill introduced by the current Liberal Government in October 2016. It affects pension legislation which applies to federally regulated private and public corporations, but it could readily be used as a model to push against Defined Benefit Plans. It allows a new type of pension plan to be implemented by those corporations. Previous to Bill C27, for the most part, only two types were allowed where the Federal Government had control. They are Defined Contribution Plans and Defined Benefit Plans. Our teachers’ pension is an example of a Defined Benefit Plan. The new plan which would be allowed under the bill is a Target Benefit Plan (sometimes inappropriately called a Shared Risk Plan). (read more)

For more information on the different kinds of Pension Plans and the Global picture of Pensions in our current world,

please type in the following URL www.bit.ly/pensionsin21stcentury

You will find a presentation prepared by RTO members, Rosanne Orcutt (rosieo@cogeco.ca) and Bob Sutton (7991bob@cogeco.ca) They would be glad to answer any questions you have.

OTF President Mike Foulds: "the one percent is responsible"

On September 28, 2016, MacLean's magazine published an editorial, "Why the one percent isn't to blame for income inequity."
OTF president Mike Foulds responded with the following letter to the editor. A portion of this letter was published in MacLean's letters to the editor on October 10.

It was disheartening to read the September 28, 2O16 Editorial, "Why the one percent isn't to blame for income inequity", Our Editorial: It's past time to rein in the public sector pension plan bacchanalia. Not disheartening as a member of a fully funded, jointly-sponsored public pension plan but disheartening to see what was once Canada's preeminent weekly news magazine sink further into the muck of right wing "journalism", best exemplified by such luminaries as Fox news.

To read the full article (click page 1) (click for page 2)

	RTO/ERO LAMBTON 38	PENSION & RETIREMENT CONCERNS
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