A Letter on Deaf Ears
Hi Everybody;
Well here is another letter sent out to a government that doesn't really care what the people of Ontario want.
Apparently all they want to do is line their pockets. After voting them selves a 35% raise just before Christmas , they are lining their pockets again with another raise. They are the highest paid MPP's in Canada.
Maybe that is why they refuse to unlock our money. They need that money when each senior passes away and they tax their estate at the highest rate so that they will be able to keep their pockets full of money.
Hon Dalton McGuinty; ???????
Dear Dalton ;
As you may have noticed . The Federal Government is now going to allow the unlocking of 50% of Federal Locked-in pensions in Canada.This means that well over 50% of the Citizens of Canada will have a privilege that is being denied to the Citizens of Ontario.
Federal 50% , Alberta 50% , Saskatchewan 100% , Manitoba 50% ,((( Ontario 25% )))I have heard that British Columbia is also considering unlocking 50%.
Your past Finance Minister Greg Sorbara during a interview concerning locked-in pensions in answer to the Question " Do senior citizens really need protection from unscrupulous investors?"
On a CBC Radio interview Stated .
" I don't think that this has any thing to do with protecting senior citizens from investors whether unscrupulous or not. "
Your Now Current Finance Minister Dwight Duncan now States .
" the Ontario government is concerned that full unlocking of locked-in accounts could put retirement income at risk. The rational is simple , these funds are important in ensuring that seniors are provided with a regular income stream throughout retirement despite the uncertainty of an individuals life expectancy , future investment ,returns and inflation."
It appears that your Finance Ministers answers depend on is if there is a election or not.
Before a election Your government isn't concerned if a Senior is capable of looking after their own funds . ((( I would like to remind you this is our own funds )))
Now that the election is over Your government is saying in a nice way that only the Seniors in Ontario are to Stupid to look after their ((( OWN FUNDS ))) Not government money !!!
We were smart enough to save money for retirement. We are also smart enough to use it and invest it wisely.
PEOPLE AND ORGANIZATIONS THAT SUPPORT UNLOCKING LOCKED IN PENSIONS 100% .
Jack M. Mintz Professor Of Business Economics ,Rotman School of Management ,
Malcolm Hamilton,Actuary ,Mercer Human Resource Consulting Toronto ,
Gordon Pape , Renowned Financial Expert ,
One Thousand Eight Hundred Signatures on the online Petition that has requested that the Government of Ontario Unlock LIRF , LIRA , LIF 100%
CD Howe Institute , Canadian Economic And Social Policy Think Tank,
CARP , National Advocacy Organization For The 50 Plus , 250,000 members in Ontario ,
The Common Front For Retirement Security , 2 Million Members across Canada .
The Ontario Coalition of Independent Locked-in Fund Holders ,
Ontario Coalition of Senior Citizens Organizations.
My Question Is why does the Liberal Government of Ontario Refuse to unlock Locked-in Pensions 100 %.
Especially when A good Number of Current Liberal MPP'S will enjoy this Privilege at the age of 55 or when they retire.
Bill Costello
