July 15, 2016

Is Trudeau/Wynne CPP expansion deal in trouble? BC hits “pause” ahead of deadline

Brian LilleyArchive

Justin Trudeau and Kathleen Wynne’s idea to expand the CPP across Canada has hit a snag.

The deadline for the deal hammered out between Finance Minister Bill Morneau and his provincial counterparts was Friday but British Columbia has asked for more time.

Morneau is of course minimizing the significance of this hiccup but I layout a few indicators of why the deal may be in trouble.

If BC doesn’t sign on, it’s effectively dead.

I’ve explained why expanding the CPP now won’t help current workers or retirees and the fact is, younger workers could get a better return investing their own money while retaining flexibility of retirement funds.

This is a political operation from beginning to end, and BC’s decision to hit pause may be the best hope all Canadians have for avoiding the future disaster of a CPP expansion.

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commented 2016-07-15 23:57:09 -0400
Canadian Mongrel: I recommended something like that in my analysis of the Agreement. See item 3 of my Recommendations here: http://heinzegroup.com/insight.htm#20

I also explain why this will likely mean less pension for the self-employed here: http://heinzegroup.com/insight.htm#14 It is about the Ontario plan but the point is the same.

Let’s hope that Brian is right and that the agreement is in trouble.
commented 2016-07-15 21:35:06 -0400
I like Ms. Clarke, though my B/ C relatives will physically disagree with me.

Main point: Like others, I don’t understand why, if the regressive liberals are concerned about savings, they just do not follow the Australian model?

It is mandated the electorate has to save a percentage of their income, but they have control of their investment choices. It means the money stays with the individual and not in government slush funds.

Oh, wait, I just answered my question.
commented 2016-07-15 19:48:33 -0400
Pensions are all ponzi schemes – they have run their course – the people who created them have benefited and the rest of us were never part of the plan.

Pensions are done – they will disappear within 20 years.
commented 2016-07-15 19:47:26 -0400
Justin, making Joe Clark, John Turner, and Kim Campbell look like they belong in the same company as John A. MacDonald, Wilfrid Laurier, and Robert Borden.
commented 2016-07-15 19:13:42 -0400
Of course it was always a con job by these globalist wigglers – Ontario is nearly bankrupt and Ottawa soon will be after they finish shutting down Canada’s only remaining wealth engine in Alberta.

There simply is no revenue coming in to run another retirement ponzi scheme – They have needy migrants to support so seniors will have to continue eating dog food. It was all an election con – these treacherous globalists have no loyalty to Canadian’s welfare – particularly seniors – they get free euthanasia.