April 22, 2016

“Obscene, immoral to pay an Old Age Pension to someone like Conrad Black”

Rebel Staff
 

Canada's retirement system needs to be reformed before it is too late, but Professor Ian Lee of the Sprott School of Business says his ideas "might be even more radical" than mine.

Lee wants to eliminate the concept of universality and introduce means testing so that affluent Canadians -- including himself-- will not receive Old Age Security payouts.

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Comments
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commented 2016-04-24 12:04:28 -0400
Another misleading, half truth report by the Rebel.

OAS is means tested in its current form. The OAS claw back begins when net income reaches $72K per year – a middle class amount of money according to Trudeau’s own definition for tax break purposes. At $100K the OAS payout is $283.00 per month, at $110K $98.00 per month and at 120K it is zero. I would suggest that Conrad Black receives no OAS and Ian Lee, if his net income is above $72K, would see a similar result with the claw backs. What I do object to is the move by Trudeau to return the bar to 65 years of age. Actuarians would tell you this is unrealistic given today’s lifespans. Indeed, almost every western nation realizes the sustainability problems of their respective gov’t pensions vis a vis age and have increased the bar to 67 years of age or higher. Trudeau is reverting back to the age of 65 for political reasons and to continue his program of cancelling every single Conservative piece of legislation such that there will be no legislative record that the Harper government even existed. Now that’s nasty.
commented 2016-04-22 22:58:08 -0400
Peter, they are talking Old Age Pension , not Cpp.
commented 2016-04-22 12:38:16 -0400
In this I disagree with Ian Lee. If you pay into the pension why can’t you collect irrespective of your economic status. If you can’t collect then it ( CPP payment) becomes yet another tax on those determined to be affluent. Paying into the CPP plan is no different than paying into some other plan. Conrad Black can’t collect , give him his money back with interest. If he hasn’t paid into the plan then he won’t be able to collect in any case. If I can’t collect because of my economic status, I want my money back plus interest. I have been paying into this for 46 years.
commented 2016-04-22 12:04:08 -0400
Canada will default financially before anything gets fixed.

Don’t bother the libranos with fixing stuff – they’re too busy stealing and financially raping Canadians.
commented 2016-04-22 11:56:51 -0400
I agree, just like I agreed yesterday. The loser that is running this country now is a complete joke.