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, October 18, 2007

Commision Study

Hi All;
Below is a article many of you may have seen in the paper.
I just wanted to let you all know information I have received about the Commision Concerning the Study.
Pension law to be revamped
Finance Minister Greg Sorbara says Ontario's pension law is out of date and needs a facelift. He says the province is looking at revamping its pension law and has asked the Ontario Expert Commission on Pensions to hold hearings over the next few months. Sorbara says Ontario's pension law was a leader when it was enacted in 1986 but has lost pace with other regions. The commission will take written and oral submissions from pensioners, employees, plan administrators and other interested people. Hearings are set for Kingston, Ottawa, Sudbury, Toronto, Windsor and Hamilton. The study is the first review of pension law in 20 years.
Information I have received.
The last time we contacted the Ontario Expert Commission on Pensions, they told us that unlocking of pensions was not included in the study.
Bill Gleberzon of CARP is submitting a large brief to try and change their minds and have them include unlocking pensions.
Many Members of The Coalition of independent holders have sent in e-mail submissions.
I encourage all people to still write their Premier and MPP's to unlock locked-in pensions.
We have not given up on this issue.
Regards Bill C
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