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.

Thursday, August 30, 2007

Response To Dalton

Response to Dalton
Mr. McGuinty,Your response below is an affront of magnanimous proportions to all seniors in this province who hold Locked-In pension accounts.
I just flat out ... don't believe you, Mr. McGuinty ... "My colleagues and I believe that all our seniors deserve to enjoy the best possible quality of life and to be treated with the dignity and respect they have earned.
"Let the facts speak for themselves. Locked-In pensioners are denied but a measly pittance of their own pension monies (per annum) while living ... but
on death the same funds that were denied during life are now suddenly UNLOCKED for one purpose only ... so that you can RAPE and PILLAGE those untouched pension monies through exorbitant estate taxation!
Locked-In pensions are INDEFENSIBLE, except that all MPPs have their pensions in a similar format They are further INDEFENSIBLE, given the extraordinary, exclusive financial privilege of Bill 27 given to 61 special MPPs (of all party affiliations).
Why don't you, Mr. Sorbara and Mr. Bradley (MInister Responsible for Seniors) immediately surrender all your accrued pension benefits (paid for in part by Locked-In pensioners) to a Locked-In status ... that would be the HONOURABLE thing to do.
Then you might just appreciate the financial discrimination you so strongly advocate for all other Ontarians who own Locked-In pensions. Instead ... you offer Locked-In pensioners a one-time 25% unlocking privilege with total unlocking being available at age 90 ...
when most pensioners of course will already be dead.
That is a far cry from what Jim Bradley got as a result of Bill 27. ... and you have him looking out for the interests of seniors ...
Mr. Bradley's continued silence on this issue means one thing only ... when it comes to pension benefits, Mr. Bradley firsts looks out for himself!
Your former colleague Sean Conway, called Bill 27 (An Act To Amend The Pension Benefits Act And The MPPs Pension Act) "wrong and immoral".
He took his unlocked pension anyway.
Michael Bryant called Bill 27 "repugnant" ...but since becoming Attorney General has become quite accustomed to such repugnancy ... given that the exclusivity of Bill 27 has been allowed to continue under his watch as Attorney General.
About Bill 27 Mr. McGuinty ... these are your words from the Toronto Star,December 16, 1999 ... "The Progressive Conservative government is changing pension laws to give a select group of MPPs, including Premier Mike Harris and Finance Minister Ernie Eves, access to pension funds worth about $850,000 each,
Liberal Party Dalton McGuinty says."You are, and have been all along, aware of the exclusivity pact of Bill 27 that gave 61 MPPs (of all party affiliations) 100% unfettered access to their pension monies. Some of those 61 were Liberals ... some of them are still serving as elected MPPs today in your party.
Your party's words of eloquence against Bill 27 were nothing more than a hollow sham ...MPPs who have integrity do not treat seniors (those holding Locked-Inpensions) in the manner in which your government has done since 2003.
Why do the 61 MPPs get 100% unfettered access at age 55 ... yet all other Ontarians who hold Locked-In pensions will very soon, be entitled to only25% unlocking ... with total unlocking coming a age 90?
What "means" test, Mr. McGuinty, was ever administered that justified only 61 individuals, who owned Locked-In pensions, worthy of having their pension monies totally unlocked?
The "REAL" stench behind this whole deceit was and is the fact that ... the 61 worthy individuals who just happened to have their pensions totally unlocked ... all were MPPs (of all party affiliations) ... and the hundreds of thousands of other Ontarians who also owned Locked-In pensions have, in effect have been told they are too stupid to mange their own pension accounts ... and thus must be treated like total imbeciles by the Financial Services Commission of Ontario
(your regulatory agency, Mr. McGuinty) as it doles back to them measly dribs and drabs of their own monies Your actions tell seniors they don't deserve ANY quality of life ... except on death when they can contribute to your scandals such as the COLLE-GATE affair ...
who is it that can't manage their money Mr. McGuinty??????
Any other names on the list of 61 come to mind Mr. McGuinty?
K. Elliott
PLEASE NOTE:
John Tory and the Progressive Conservative Party have endorsed 100% unlocking of pension funds (LIFs, LRIFs, etc.), 50% at age 55 and 50% at age 65.
The NDP endorsed unlocking of pension funds as MPP Andrea Horwath introduced private members bill #175 to unlock 100% of pension funds.
Bill Costello
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