4 responses

  1. Brian Weatherdon
    March 4, 2016

    I hope your pension plan isn’t among the ones with only 50% to 80% funding. Such dangerous underfunding should be illegal, but it’s not. Have a peak at https://www.linkedin.com/pulse/tragedy-california-public-pensions-c-jay-engel and find the 4 worst assumptions pension trustees and legislators have allowed …to permit inaction.

    Now consider a pension plan in which you – or someone close to you – may be a member. What level of funding is in place? What happens if you retire, and along the way your pension is forced to cut your income by 30% or 50%? … How can your financial plan cope with such events and still provide the lifestyle you want to enjoy?

    Our discussions in this website offer resources to support your financial freedom and lifelong wellbeing.

    Reply

  2. Brian Weatherdon
    May 23, 2017

    Here’s an idea as written-up in the Globe and Mail last Saturday: https://www.theglobeandmail.com/report-on-business/ontario-eyes-new-rules-for-pension-funding/article35067299/

    First, reduce to 85% the funding requirements from which pensions manage future liabilities.

    Second, allow at least five years (or more if needed?) for pensions to remedy their shortfall.

    Third, increase Ontario Pension Benefit Guarantee from $1000 to $1500 (anyone over that, “good luck!”).

    Fourth …oh shoot there is no #4, but with average private sector pensions at $1300/m there could be cat food.

    Fifth (missing from the article): taking charge & personalizing one’s pension to assure Income for Life.

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