So far, only 20% of licenced gun owners have done so and some are even urging a boycott of the registry. On January 29th, 2019, all Quebecers with non-restricted firearms will be required to register them or risk a fine. This guideline would both achieve the goal of an enhanced pension to allow for a more secure retirement, and does so without burdening individuals and businesses with higher premiums. This would continue until 65 is considered early, 70 is average, and 75 enhanced, which would apply to those born on or after 2004. By the numbers, this means early retirement will be at age 60, averaging at 65, and enhanced at 70 for those born before 1964 61 early, 66 average, and 71 enhanced for those born between 19 62 early, 67 average, and 72 enhanced for those born between 19. I think that a better alternative would be to raise the retirement age by one year every decade. Nevertheless, this will mean less disposable income for the average taxpayer, and since employers must match premiums, it will hurt small businesses who are already struggling with increased regulation and tax burdens. What is puzzling here politically is that retirement is not likely on the radar of most twenty-somethings.
#Tweeten issues full#
Only those currently in their twenties will realize the full benefits of the changes to CPP, whereas the rest of us will have to pay more and only get some back. With the proposed changes, if you are close to retirement, you will have to pay higher CPP premiums, but you will not get any enhanced benefits when you retire. This brings me to my second point regarding CPP enhancement. I understand some in heavy labour jobs and those with health problems may have to retire earlier, but it is better to make an exception for some than to make it the norm for everyone.
Looking at the numbers, raising OAS to 67 would save $10 billion a year, which is a significant amount of money. Meanwhile, the IMF, EU, and OECD have advised all developed countries to raise the age of retirement, and most have. As such, most developed countries have raised the age of retirement even our civil service advised Trudeau against rolling back OAS, and the government’s own report advised them to raise the retirement age. A good real world example of this is Japan, where more than 25% of the population is over 65 and they have averaged only 1% growth per year over the last 20 years. This equates to a smaller labour force, reduced productivity and slower economic growth. With lower birth rates and longer life expectancies in Canada, the ratio of workers to retirees is now 4 to 1, as opposed to 7 to 1 as it once was, and is predicted to be 2 to 1 by 2030. Life expectancy has increased by ten years since the age of retirement was first set at 65 for Old Age Security. On the former, I understand lowering the retirement age back to 65 may be popular, but it is a bad idea for a few reasons. Two issues I’ve tweeted on are the Liberals’ decision to reverse the OAS age back from 67 to 65, as well as the plan to enhance CPP by raising premiums. It is much easier to properly explain one’s self in a blog post as opposed to a platform with a 280 character limit. Since we all know that twitter is not the best place for nuanced debate, I wanted to share my thoughts on a few pressing issues that I have been tweeting about recently.
0 kommentar(er)
