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Monday, January 9, 2012

Pension madness

Posted on Mon, Jan 9, 2012 at 10:46 AM

At work I'm forced into a pension I don't want (it is a condition of employment at many public sector organizations). These pensions are topped up by tax payers money - many of those taxpayers contributing to my (and everyone else's) pension are paid minimum wage themselves and don't have any hope of saving for THEIR OWN retirement. They certainly don't get a pension. It makes my stomach turn... It would be funny if it weren't so sick. I have no hope in hell it will even be there for me when I retire 30 years from now... The baby boomers will have raped the kitty long before then, let alone the fact it is (mis)managed by the same morons who (mis)manage everything else in this province. I am more than capable of investing my own money that I make for my own retirement (and I am sure the majority of everyone else is as well). Instead they steal $400 a month out of my pocket and I end up going into overdraft just to purchase the food I need for me and my son and to pay my rent. The administrators response? I can quit my job if I don't like the pension policies. I think these people are mentally challenged.

Our income should be our money to do with as I please. It shouldn't be up to government or employers to determine what is best for me. I understand paying taxes for services for those less fortunate - that is fine I am totally ok with that. But, perhaps instead of investing it into a mutual fund, I'd invest it into a down payment for my house (the number one investment vehicle for Canadians - the ones who can afford it that is). I am a single parent raising a kid, so my priorities are not the same as a nearly-dead with a pension love affair.

One size fits all benefits policies are essentially discriminatory in nature. Pensions assume an individual is a moron who isn't competent enough to make their own financial choices - also it makes great assumptions about the validity and soundness of pension managers who aren't at all accountable to me, unlike my own personal money manager would be.

I'll take my freedom over financial tyrrany any day. Unfortunately here in this province , people have very little choice and very little freedom. —Dartmouthy

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