Ontario Pension Plan | GTAMotorcycle.com

Ontario Pension Plan

J

j2

Well-known member
Is this a joke?

If you look at the examples they give you on the web site the compound interest over 40 years is just over 3%.

Take that same money and invest it a S&P index fund and historically you would have had a compound return of over 11%. And that's doing nothing, no thought or brains required, all you have to do is match the stock in your portfolio with the stock in the index.

Seems like another government boondoogle where Wynne's friends will get huge 6 figure salaries for managing a plan that underperforms the stock index by 70%, or perhaps Kathleen and her friends are skimming off the top again.

Sorry to vent. Just one of those mornings.

Is there anyway to opt out of this mess?
 
j2 said:
Is this a joke?

If you look at the examples they give you on the web site the compound interest over 40 years is just over 3%.

Take that same money and invest it a S&P index fund and historically you would have had a compound return of over 11%. And that's doing nothing, no thought or brains required, all you have to do is match the stock in your portfolio with the stock in the index.

Seems like another government boondoogle where Wynne's friends will get huge 6 figure salaries for managing a plan that underperforms the stock index by 70%, or perhaps Kathleen and her friends are skimming off the top again.

Sorry to vent. Just one of those mornings.

Is there anyway to opt out of this mess?
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Public pension plans cannot invest in equity. It must be 'safe' return investments (bonds, GICs, that sort of thing)
 
Another redistribution of wealth. Ontario is broke now and they need an influx of $$ into coffers now, hence the "you're to stupid to save so we'll force you" TAX.

You have to have a pension plan already setup to avoid this BS.

j2 said:
Is this a joke?

If you look at the examples they give you on the web site the compound interest over 40 years is just over 3%.

Take that same money and invest it a S&P index fund and historically you would have had a compound return of over 11%. And that's doing nothing, no thought or brains required, all you have to do is match the stock in your portfolio with the stock in the index.

Seems like another government boondoogle where Wynne's friends will get huge 6 figure salaries for managing a plan that underperforms the stock index by 70%, or perhaps Kathleen and her friends are skimming off the top again.

Sorry to vent. Just one of those mornings.

Is there anyway to opt out of this mess?
Click to expand...
 
This liberal government is stupid. Thank you for voting for it. Make sure to send your liberal party member a WTF letter.
 
If there's one thing we've learned about this Lieberal government its that they do nothing unless the end result is to line their pockets. They do this with impunity because they have been given that mandate by voters. I mean, we got fleeced for hundreds of millions in the gas plant boondoggle and were handed a majority government as a reward. This Pension Plan BS is nothing but the same.
 
@ j2, I believe if you're already involved in a pension you can be exempt depending on the percentage of your pay contributed.

Red liner said everything that needs to be said. Complete and utter ********, nanny state hand holding.
 
Some food for thought:

Most large businesses that pay well already have a pension plan so there is no impact to them (many manufacturing jobs, bank head office jobs, engineering as examples). These are the businesses that do not need to be here, they can be anywhere. This will not have any impact on the decision to move to Mexico or China…

Large businesses that do not pay well tend to be services based (example fast food) and they need to be located here to serve their clients here. It raises their cost but other than scaling back the workforce by the same percentage as the extra cost there is nothing they can do. Some of these still actually have plans BTW.

Most small businesses that pay well do not have a plan, but in many cases now they will create their own plans for about the same cost to them and the employee, but more $$$ = yes. Most cannot/will not move out of province because it is just not practical (their talent is here). The owner of the small business has a house here, etc. so that is also an impairment to moving out of province. They will suck up the higher cost.

Most small businesses that are low paying need to be near their customers (services), just like large low paying…

Any small business that goes under due to this extra cost was likely close to that anyways…

So although I am against this plan from a practical perspective I do not see the sky falling like the right wingers want you to believe. Yes there are corner cases outside of the above but the drama is unwarranted. Small business will be hit hardest. Stupid idea. Sky is not going to fall.
 
Riceburner said:
Thanks to all those that voted for them....
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They were the least worst choice, this is why they won. Blaming the voters for picking the least worst choice is stupid, blame the other two parties for being crappier is not stupid... too bad neither has changed. Wash rinse repeat. You want someone else running the province, find a leader for your party that is less worse than the Liberals, it is just that easy.
 
backmarkerducati said:
They were the least worst choice, this is why they won. Blaming the voters for picking the least worst choice is stupid, blame the other two parties for being crappier is not stupid... too bad neither has changed. Wash rinse repeat. You want someone else running the province, find a leader for your party that is less worse than the Liberals, it is just that easy.
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There has to be some accountability. Is there a way to en masse reject all candidates? I'm getting tired of choosing from the 'least crappy' choice.
 
Two50noob said:
You can formally reject your ballot
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Yes, but other than sending a message it has no weight in the outcome of the election. Now if it was a first past the post where rejected was greater than any other party so rejected wins.... Now all parties must come back with new people...
 
Each Marjory party has their loyalist. So we can reject what is offered to us but, one of the big three is going to get in one way or another.

We should have pulled an Alberta and sucked it up for 4 years and give the other two parties a chance to regroup.


Sent from my iPhone using Tapatalk
 
No surprise here. Can't wait to move out
 
j2 said:
Is this a joke?

If you look at the examples they give you on the web site the compound interest over 40 years is just over 3%.

Take that same money and invest it a S&P index fund and historically you would have had a compound return of over 11%. And that's doing nothing, no thought or brains required, all you have to do is match the stock in your portfolio with the stock in the index.

Seems like another government boondoogle where Wynne's friends will get huge 6 figure salaries for managing a plan that underperforms the stock index by 70%, or perhaps Kathleen and her friends are skimming off the top again.

Sorry to vent. Just one of those mornings.

Is there anyway to opt out of this mess?
Click to expand...


It's no joke...
No it's not "seems like"...
Just keep voting , it will make a difference.

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"If i was educated, I'd be a damn fool"
 
Meh, if you're not close to retirement now, you'll probably not even have to worry your pretty little head about it.

Don't the current contributions fund the payouts to those eligible now, and you're supposed to be paid by someone else?

Wait, that can't be right, that sounds like a pyramid scheme.
 
Current contributions fund this government's spending plans and offset the deficit from the gas plant scandal, and you're eventually supposed to be paid by the future contributions of a future generation; the fact that that future generation's contributions will no longer be contributing to THAT future government's spending plans is not this current government's problem. There's no "investment" going on here.

... or something like that.
 
The 3.8% off people's paycheques today (1.9% employee + 1.9% employer) will go to fund the $1B cash flow of the provincial contribution for the Toronto Olympics. The pension fund will be a smoke and mirrors accounting to be actually paid out by future taxes.
 
The liberals know they can't fix the mess they created so they are trying to create more revenue to buy more votes for the next election. Please stop them!
 
Every time I see Wynne's name in the paper, I think "gas plants". We haven't heard anything regarding where the investigation is (if anywhere). Is there a way to find out if anyone is actually doing investigative work at OPP or is it safe to follow my gut that we will never hear anything about it again?
 
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