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, March 27, 2007

The First Letter from Suffering Senior ((This letter made our blood boil))

This reply is to oldman's posting of 26/06/2006.
In your posting you have included a quote from Greg Sorbara.
"While Ministry staff continue to monitor developments ....,this government is not considering amendments to the Ontario provisions ....
"All seniors, who are unfortunately saddled with a Locked-In pension owe it to themselves to read the Ontario Legislature Hansard record as it relates to Bill 27. (Bill 27 received Royal Assent on Dec. 20, 1999)
Please follow these prompts and verify for yourselves what I am about to say.
www.ontla.on.ca/hansard ... then go to ... 37th Parliament,1st Session,Oct. 20,1999 to Dec. 20,1999 ... click on House Debates ...then click on L027B-Mon. 13 Dec. 1999
Bill 27, An Act to Amend the Pension Benefits Act and the MPP's Pension Act was a bill very cleverly crafted by the Conservative government of the day. Ms Caroline Di Cocco (Sarnia-Lambton) stated regarding this bill ... "So here we have a bill that's dealing with two different directions that are in contradiction to one another.
"Amendments to the Pension Benefits Act were paraded before unsuspecting seniors in Ontario as some noble gesture of empathy in allowing miniscule opportunities to access monies within a Locked-In plan.
These same amendments though, also acted as a smoke screen to cover the real intent of Bill 27 which was to allow 61 MPP's (of all party affiliations) the privlege of moving ALL their pension monies from a Locked-In status to an RRSP status. This was accomplished through amendments to the MPP's Pension Act.
In other words, knowing how loathsome and restrictive Locked-In plans were, 61 MPP's simply were given a legal avenue of escape from the very same noble gesture of empathy they were promoting, (through the amendments to the Pension Benefits Act), for all other Ontarians holding Locked-In plans. HOW ABSOLUTELY OBSCENE!!!
In the Hansard, our present-day Attorney General, Michael Bryant (St. Paul's)stated the following concerning Bill 27 ..." a bill that blatantly gives opportunities to members of provincial Parliament that do not exist for the rest of the population. That is the height of the appearance of inequity, the height of the appearance of injustice and the height of hypocrisy." ... " ... obviously we cannot support an act which treats MPP's in a favourable manner with respect to their remuneration from pension benefits, in a more beneficial way than the rest of the public.
"Mr. Sean Conway stated (Renfrew-Nipissing-Pembroke) ... "It is wrong and it is immoral. ... I just can't imagine that hypocrisy has reached such a zenith that any one of us wants to stand up here and affirm that special people should get this kind of treatment.
"Back to Greg Sorbara's reply ... In 1999, as you will read in the Hansard, members of the Liberal party had very strong words against Bill 27. Now that they have been in power since 2003 though, they have become very silent on this issue. Why is this Mr. Sorbara? ...Mr. Bryant? ... Mr. McGuinty?
If Michael Bryant could not support Bill 27 in 1999, why now, that he is Attorney General, has this Bill been allowed to stand? Why Mr Sorbara, if this Bill was so repugnant in 1999, can you now say ... "this government is not currently considering amendments to the Ontario provisions.
"Seniors are not stupid people who need government paternalism applied to every facet of their lives. Seniors can manage withdrawals from their pensions and the corresponding tax liabilities with just as much financial savvy as any MPP.
This was a disgusting, disgusting abuse of power ... where MPP's had the power to pass a Bill such as Bill 27 and then have the audacity to say to seniors ... NO, we won't give you the same rights.
Please read the Hansard record. Yes,by all means sign the petitions ... but don't let it stop there ... phone, or better still, go see your MPP ... check out his or her voting record on Bill 27 first (its on the web)
Seniors, despite our age,...we can still move mountains ... and this is one TRAVESTY that needs to end NOW!!!!!!!!!!!
In the Hansard record you will learn the identity of some of these "special" MPP's.
Thanks
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