Well it seems that the goblins in Ottawa are going to have a simply wonderful Christmas time!
In 2012 the pension rules change retroactively for anyone between 60 and 65 who is still working.
No matter that I signed an agreement with Revenue Canada, CPP and the Canadian government last year when I turned 60!
I agreed that I would take a 30 per cent hit for the rest of my life (life expectancy 84 years), from my modest, and taxable pension.
I’m employed, and so now must repay $100 (approx) per month from my modest pay — to the new CPP plan, along with a matching contribution from the employer of $100 (approx) totalling $2,400 per year — and that’s just from one person.
For this mandatory payment, I will then receive an additional $10 (approx) per month, $120 per year, starting in 2013.
I believe that this is absolute outright theft of an unprecedented scale, and an appalling, mean-spirited action, which seems to have been pushed through with incredible speed — surprising how quickly things they want to pass can be dealt with.
I would respect them more if they confessed to their gross mismanagement of the Canada Pension plan, and stated outright they’d screwed up on their endless calculations and revisions.
They were unaware that Canadians were aging and living longer? If they can’t project that then I, with no financial background and access to the massive databases, could have pointed out the obvious.
I have worked all my life, taken some time off for two children, paid taxes, paid property taxes, paid gas, hydro, increased food costs, gasoline and every other bill I have received throughout my life, and of course will continue to do so. But I resent this enforced pension action utterly and absolutely.
I have two small thoughts about this. First, did Quebec politicians vote on this? Does this apply to Quebec also? How will this tax grab affect those politicians who are entitled to their huge pension payouts?
Are they also included in this action?
I’m now waiting for them to let me know at the end of 2012 that, oops, we are going to change it again!
I am aware that there will be more fallout from this for others, and I thank you for the opportunity to write in to express my thoughts!
Joanna Holms, Parksville