WELCOME

I was surfing the Internet one day and I noticed that Saskatchewan had unlocked their citizens locked in pensions 100% when they were transferred from a locked in retirement account ((L.I.R.A.)) into a Fund where they would be able to start collecting from . (( we will call the unlocked fund a registered retirement income fund R.R.I.F. )) The name varies a little bit Province to Province. I was surfing a bit more and I found that Manitoba had Unlocked 50% of the locked in funds in their province for their people. (( They are currently being lobbied to unlock the remaining 50% )) I then begin to think (( and that is hard to do sometimes )) Ontario being a progressive Province. Why is Ontario not unlocking these funds for their people. Considering that this is very unjust and cruel legislation keeping these funds Locked in when a person reaches Retirement age. Many of us were lead to belive when we contributed to the Defined Contribution Fund and reached the age of retirement that we could draw on our funds at will. Not be controlled by the Government and only allowed to remove basically the interest on the funds from 2.5% to 11% depending how good the fund was doing. This our OWN MONEY not Government Money. It is not OAS or CPP.

Tuesday, August 28, 2007

Daltons Response

This is Daltons Response
Thanks for your online message regarding locked-in retirement pensions.I'm always interested in hearing about the things that matter most toOntarians.
Our government recognizes that Ontario's seniors have made and continueto make invaluable contributions to our province's strength andprosperity.
Communities across Ontario are reaping the benefits of thewisdom, knowledge and expertise of seniors. My colleagues and I believethat all our seniors deserve to enjoy the best possible quality of lifeand to be treated with the dignity and respect they have earned.
That is why to help provide security for seniors, we announced in our2007 Ontario Budget that we are proposing to give seniors enhancedaccess to their locked-in accounts, which originate with fundstransferred from pension plans.
As your comments would also be of interest to the Honourable GregSorbara, Minister of Finance, I have passed on a copy of yourcorrespondence to him for his information.Thanks again for contacting me. Your input is always welcome.
Mycolleagues and I look forward to our continued journey with you and yourfellow Ontarians to build a healthier, more prosperous Ontario.Dalton McGuintyPremier of Ontarioc: The Honourable Greg Sorbara
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