Hi All; I just found this it was posted today.

NEWS RELEASE

JOSH PRINGLEPC CANDIDATESAULT STE. MARIE************************

A John Tory government will protect seniorsPC Leader John Tory said a PC government will give Ontarians 100 percent access to their locked-in pension income. This would mean seniors and retirees would have access to 50 percent of their pension at age 55 and the remaining 50 percent at age 65. In Dalton McGuinty’s Ontario, pensions are locked-in by the government as late as age 90 and the most any senior can hope to access from their pension savings is one out of every four dollars.

Tory indicated that when the Ontario Expert Commission on Pensions reports back in the summer of 2008, he will move quickly to implement its recommendations.

“We can, and must, do more for our senior citizens,” Mr. Tory concluded. “This means adopting policies that put fairness for seniors first. Our seniors have done so much to make Ontario what it is today. In order to repay that debt, leadership matters.”

John Tory has cited comments made in March 2007 by Dr. Jack Mintz of the University of Toronto calling for Ontario to unlock the chains put on pension savings of employees who change jobs or retire.

According to Mintz, unlocking locked-in pensions would help contribute to labour mobility, better retirement plans and ultimately, a stronger economy. “Seniors and retirees built the foundation for the strong community and Ontario we know today. They deserve to have control over their hard-earned retirement savings,” said Pringle.

“We believe that Ontarians know best how to look after their money– not government.” “Our plan will allow seniors and retirees to have control over their own money and better plan for retirement based on their own needs,” said Pringle.

“Ontario’s pension regulations present unnecessary challenges for seniors and retirees looking to transform a lifetime of hard work into financial freedom.” Pringle added:

“This is a simple change to Ontario’s pension rules with no cost to the taxpayer. Unlike Dalton McGuinty, who is only willing to provide seniors and retirees with partial access to their locked in pension funds, a John Tory PC government will respect the wishes of these individuals to manage their money as they see fit.”

In the 2007 budget, Dalton McGuinty responded to seniors and retirees concerns about this issue by proposing a plan that would give Ontarians access to 25 percent of locked-in accounts at the earliest retirement date of the pension plan from which the money was transferred and 100 percent access at age 90.

To date, no regulations or legislation have been brought forward to enact these proposed changes.

“Leadership is about listening to seniors and retirees," said Pringle.

"If we are going to remove the barriers and give the people of our community the fairness and peace of mind they deserve, then leadership matters.

"Ontario PC Leader John Tory also today detailed the Progressive Conservative plan to protect senior citizens and other vulnerable homeowners struggling with rising property assessments and unduly restrictive pension structures.

“Today, many seniors are struggling to make ends meet. They are penalized by a property assessment system that punishes people on fixed incomes most of all,” John Tory said.

“Dalton McGuinty has failed to show real leadership on Ontario’s assessment crisis. Too many seniors are on the verge of being forced out of their own homes.”

John Tory said his government will take aim at the current municipal property tax assessment system, which is facing a “crisis of credibility” according to the Ontario Ombudsman. The average assessed home in Ontario recently rose from $179,151 in the 2003 taxation year to $232,883 in the 2006 taxation year. Some assessment increases have been as high as 150 percent, and homeowners are receiving assessments that contain incorrect information about their properties.

A John Tory government will provide stability to homeowners by:- Establishing a five percent annual cap on property assessment increases for as long as a person owns his or her home (including if the property is transferred to a spouse).-

Implementing a new reverse onus appeal system so the Municipal Property Assessment Corporation (MPAC) will have to justify an assessment increase.- Ensuring MPAC fully implements the recommendations of the Ombudsman, and if the serious problems he identified are not addressed, shutting down MPAC and building a better system. -

Addressing rural assessment inequities which currently penalize farmers who have been encouraged to have value-added production services.

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.

The Liberals offered a insulting 25% unlocking in their 2007 budget.