Sabre Rattling.....Perhaps. Teacher strike looming ?

[fishy steve]

"IF" everyone in the province earns X and for 20yrs they/we all get cost of inflation raises. Lets say 2% each year.
JQ (Johny Q private) will get 20 x2%
JP (Johny Q public)will get 20 x 2%….and the more he earns, the more the Pension pays, so its not the same is it? They aren't "keeping" pace are they?
.

one thing you left out though, is what he contributes into his pension also grows... PS dosent just simply sit back and collect a pension, alot gets paid into out of pocket to... $20 in PS and $20 in private is still the exact same, if the person in private sector invested the same amount of money into a good rrsp plan, their pension would be just as good if not better... in my previous job i contributed less money into a rrsp, then what i pay into my pension now, and i still wouldve came out ahead working 35 years there vs. 35 years here... but being a finacial person you shouldve already knew that

[buckchaser]

You guys that dislike teachers and their pay so much should use that energy/anger/passion you have and get into politics so you can change the system.

The number of "armchair experts" with an axe to grind with education mean that I no longer post in these threads. It's like banging your head into a wall. It feels much better when you stop.

[Species8472]

You guys that dislike teachers and their pay so much should use that energy/anger/passion you have and get into politics so you can change the system.

Anybody that kills as many coyotes as you do can teach my kids anytime and I'd be happy to pay whatever the going rate is.

[JBen]

That is true FS
cant speak for all the various plans (I think there are differences amongst them)

For example.
One right wing study "claims" that two "equal managers" one at Hydro, one in private. They claim the hydro manager makes over 200k/year and the same manager elsewhere 125-150k.

for every dollar the hydro manager contributes to his DBP, tax payers contribute 4.
sweet deal.

so basically if those same 2 "typical" people above each contribute $500 per year. The PS persons plan will grow by 2000.00 (using the 4 to 1 ratio). I sincerely doubt that's true everywhere.

DBPs are really expensive because typically the Benefit (B) is avg of the highest earning years. So guess what. With DCPs the benefits received are by definition based off the contributions. Just making this change would save "us" a lot of $. Money that could then be used to give raises, or buy MRIs, or hire more nurses or....
*********

i don't doubt some think I hate "teachers". I don't if they get kneecapped 5 of my cousins and 2 of my aunts do.

basically "we" have some serious problems. And likely more on the horizon (Boomers and healthcare). Hard choices need to be made.

If if I have two people in front of me who could use a cup of coffee. Well I'll probably give it to the person who likely won't be retiring until they are 65 first. And if I don't have a cup of coffee to give either of them. I'm not taking it from the one is relatively" worse off and giving it to the one who while they could use it, don't need it as much

[fishy steve]

yes i can imagine a hydro pension is good haha also dont know the inns and outs of other public sector pensions, mine in some ways works like a rrsp, i put roughly $150 a paycheck in (cant change it, set amount) and the board matches... but dosent work like a rrsp, i have zero say where money goes, dont really ean interest on it... the maximum i can draw is 70% of my annual salary (which in that 70 % also account for old age/cpp) and i can work here for 35 years to earn that 70 % i personally have zero asperations of still working here when im 75 lol id rather see that gone, and go to a rrsp plan like alot of private sectors have, i have done very well investing my rrsps with previous companies, and gained big during the recession, well after it technically... im sure that plan benefits teachers and the likes, that are making the big bucks, after all even 50 % of 100 K is alot better than 70% of 45K lol

[JBen]

As I said I know there are different plans and this is one reason why I always to talk about the "cost of govt" or "PS" and not single any out. Not every area is going to have too many heads, or too many managers (sunshine list types), or a combination things which might, stress that word might….people earning too much ( Salary and benefit)…Its waaay beyond any of to say….They get paid too much, or there are too many..

I have no doubt some think I hate PS employees (despite so many in my family being leo, ems, af, teachers, EAs )

No I just know when I see big problems, big ones coming and nothing being done about it. My "beef" is with the Unions, they've proven they are incapable of thinking beyond themselves, are only political and swing elections. They will "fight" with each other, try to "one up each other" and much more. If I was god I would dismantle them, or find a way to kick them out of Queens Park.

How hard would it be for every union and a whole bunch are really bright people like Drummond and the types at Moodys to sit at a table and figure things out. People (and yeah I do think "private" is taking it up the backside) are paying steep prices for it.

Book mark this site and poke around it when you have time. Theres some really good information for you personally, but also on the topic of the need for pension reforms….There is/was one article on the different types of reforms they might try but as always its a given

the Unions will go bat ship crazy and….

First couple link are directly related to "reforms" but there is sooooo much more (poke around the site)
http://www.benefitscanada.com/pensio...r-reform-43224

http://www.benefitscanada.com/pensio...retirees-45291

One more (but you can also use the "search" for "reforms, top 100 and types and more)
http://www.benefitscanada.com/pensio...g-it-all-18011

/edited because caffeine is still firing up the grey matter.

People especially those at QP and the Unions had better start thinking less about "today" and more about whats coming…..

And the fact so many in Private don't have Pensions
Cant save
Pay more to taxes than they do housing/food
And are getting hit even harder now thanks to the Liberals and the Unions and will have even less pocket money to….

[fratri]

Anybody that kills as many coyotes as you do can teach my kids anytime and I'd be happy to pay whatever the going rate is.

Now that made me smile...
Thank you

[Eddy22]

No comments on the sunshine list release today? 11500 employees from hydro one and union gas on it. Did I read that correctly?