[Newsbot]

Title: NDP's Jack Layton urges mandatory insurance to protect pensions
Category: Political
Posted By: Hyack
Date: 2009-10-23 00:58:20
Canadian

[leewgrant]

$1:

Under the NDP pension-insurance proposal, which would require federal-provincial co-operation, workers would qualify for payments of up to $2,500 a month.

A fed-prov requirement means it's a non-starter. Who would be covered, just those with defined benefit plans, a small minority of all employees? And DB plans are a dying breed. And would the tax payer get involved - the many helping the few with the best pension plans?

[Akhenaten]

Never thought I'd say this but I have to admit I'm getting more and more impressed with ol'Jacky-boy lately. The EI thing and now this....he's looking more like a leader and less like a raving lunatic.

[uwish]

while I also agree he can have great ideas, behind the mask is a raving communist that would disband what's left of our military and make smiling in public a law.


he still scares the shit out of me.....

[Akhenaten]

Oh you're probably right uwish but what I'm looking at is the way he's played off the Liberals to appear (well lets be fair, it's more than appearances) to be the only guy willing to work with the CPC when they can get something for the 'working Joe' and just as willing to play tough with them when they feel it's called for.

I guess what i mean is at this particular moment in politics the Liberals are looking like "say-anything" whiners, while Jack and the NDP are coming accross as "do-ers". He played that nicely.

It's allllll about optics

[leewgrant]

Akhenaten Akhenaten:

Never thought I'd say this but I have to admit I'm getting more and more impressed with ol'Jacky-boy lately. The EI thing and now this....he's looking more like a leader and less like a raving lunatic.

He has a third of the IQ of Iggy but 10 times the savvy.

[DrRosen]

Is jack also going to demand that governments not be allowed to steal pensions? I think the fear for people paying into pensions is that governments would love to confiscate there cash.

[Akhenaten]

leewgrant leewgrant:

Akhenaten Akhenaten:

Never thought I'd say this but I have to admit I'm getting more and more impressed with ol'Jacky-boy lately. The EI thing and now this....he's looking more like a leader and less like a raving lunatic.

He has a third of the IQ of Iggy but 10 times the savvy.

Well i don't know about that. One mistake a lot of people have made is to underestimate Harper. One thing I will say that kinda agrees with that statement is that if Iggy was running the (Liberal) party rather than the party running Iggy I probably would've jumped ship by now.

(i.e. Iggy probably has more savvy than he's allowed to show)

EDIT: Sorry lee. Only now realized you were probably talking about Layton and not Harper.

[BeaverFever]

leewgrant leewgrant:

And DB plans are a dying breed. And would the tax payer get involved - the many helping the few with the best pension plans?

Well, I dont see how it would apply to DC plans like RRSPs since the vested amount is already in the employees account, not the company,s. There may be room for this provision to cover employer contributions that the worker has earned but not received as of termination if the employer only makes those payments on a quarterly or annual basis, but 1)this would probably be a relatively small amount anyway and 2)the employee is the one who bears all the risk and has no gurantees of a specific benefit in DC plans anyhow wheras a DB plan is supposed to be guranteed benefit amt.

Its true that DB plans are going extinct in favour of DB plans, but this is a bad thing. DC plans burden the employee with all sorts of restrictions and risks and managment fees that eliminate most of the benefits they offer to the worker. DC plans on average do not pay out more than DB plans, but they DO transfer wealth to the financial sector through the massive fees and commissions they charge for these plans, which is why theyre so popular in an economy that is now ruled by the big finance. Employers also like them because they can push off all the risks to their workers.

[leewgrant]

Akhenaten Akhenaten:

leewgrant leewgrant:

Akhenaten Akhenaten:

Never thought I'd say this but I have to admit I'm getting more and more impressed with ol'Jacky-boy lately. The EI thing and now this....he's looking more like a leader and less like a raving lunatic.

He has a third of the IQ of Iggy but 10 times the savvy.

Well i don't know about that. One mistake a lot of people have made is to underestimate Harper. One thing I will say that kinda agrees with that statement is that if Iggy was running the (Liberal) party rather than the party running Iggy I probably would've jumped ship by now.

(i.e. Iggy probably has more savvy than he's allowed to show)

EDIT: Sorry lee. Only now realized you were probably talking about Layton and not Harper.

Yep, Jack, not Steve.

[kenmore]

Hahahahahah..you guys are wacked