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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.

Monday, July 23, 2007

Is this Compassion or Government Greed


Hi All I just sent this letter out to news papers and below

Dalton McGuinty , Greg Sorbara :

I have just been reading some correspondence that was sent to a friend by some Liberal Riding presidents.

I then started to think is this compassion for the seniors of Ontario or is it GOVERNMENT GREED.

If it is Compassion and the Liberal party feels that they have to protect Ontario locked in fund holders from them selves because they might spend their hard saved money that they saved for retirement.

It leaves me to wonder why then would the province of Saskatchewan , Alberta and Manitoba unlock !100% to 50% of the funds for their citizens.Are these provinces not compassionate about their senior citizens?

I would belive they are. I would also belive that these provinces understand that Seniors are quite competent and are able to look after their OWN MONEY.

It also leaves me to wonder Why The Conservative Party and The NDP Party realize that The seniors Locked in Pensions Should be Unlocked 100%..
((They realize that people that have unlocked RRSP's don't run out and blow all their money , so why would people that had their locked in funds unlocked do that.))

Are these people not Compassionate. I belive they are. I also belive that the two above party's respect the wishes of their senior Locked In Fund Holders.

Another thing that really bothers me is that 61 MPP's of all party's had their pensions unlocked.
Why would they do that if unlocking these pensions were not a reasonable thing to do ?

Please don't tell me that Your party didn't vote for the unlocking as you have been doing in the past!!!

YOU and The OTHER LIBERAL MPP's Of which we Know all the Names ,new full well that you were going to benefit from the unlocking even though you voted against Bill 27.
If unlocking these pensions is so unreasonable. Why did all Liberal MPP's not leave all their funds in a locked in format. I am sure nobody would have stopped you!!!

I have come to a conclusion that seeing that the other party,s agree that the locked in pensions in Ontario should be unlocked for the people at age 55 or retirement 100% .I would assume the MPP's of those party's who received their pensions unlocked also agree that the locked in pensions should be unlocked for the seniors.

I have also come to the conclusion that the reason the Liberal Party does not want to unlock these pensions is not Compassion , It is Liberal Government Greed.

A government that wants a large TAX GRAB from DEAD PEOPLES ESTATES.

For this I really belive that it is time for all the LIF Holders in Ontario to know full the story about our so called government for the people . The ones that say one thing in opposition and yet when they are in power do very little to correct this unjustness.

Bill Costello Box 56 Atikokan Ontario
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