Bill Tufts

Nova Scotia town bankrupted by high cost of Police Pensions

As the cold winds of financial difficulties blow through the world economy, parts of Canada are starting to get a chill. The trouble is out of control spending by governments on the biggest cost of operating, employee compensation.

How much are they really worth?

When public sector unions defend their pensions they tell us that they are not overly generous and they are only $28,000 or $38,000 or $48,000 a year.

Welcome to the Banana Republic of Ontario

The Auditor General just released a scathing report on the state of the hydro companies in Ontario. Yes there are many of them, but the ones costing the most are Ontario Hydro and Ontario Power Generation. In addition there is IESO, the ESA, The OEFC the OEB and the OPA. Each have an outrageously paid CEO along with a politically appointed BOD (Board of Directors).

Taxpayers ante up big for Public Sector Pensions

Fair Pensions For All Has estimated that Canadians have increased annual contributions into public sector pensions by over 400% since 2003, effectively giving giving public sector pensions for government employees a bailout worth $100 Billion.

Fair Pensions For All responds to Minister Sousa’s Fall Economic Update

The province of Ontario faces significant financial challenges. Ontario finance minister Charles Sousa had a great opportunity in his fall economic update to address some of these issues. Unfortunately, it seems that the Ontario government’s economic plan is based on fiction more than fact.

AMO and MEPCO deliver a stern warning to cities regarding OMERS pension plan

Yesterday at an event called ‘The Stark Realities of OMERS’ the Association of Municipalities of Ontario [AMO] and its pension arm, the Municipal Employer Pension Centre of Ontario [MEPCO], held a joint meeting to discuss the ongoing issues facing OMERS. We at Fair Pensions For All were humbled to be invited by the members of AMO to this event. It is clear that AMO through MEPCO, and Fair Pensions For All, share the same concerns about the finances of the municipal pension plan.

Defined Benefit Pensions - The math does not work

Gareth our Communications Director asks.... How can a public sector employee in a defined benefit plan contribute 13% of pay into their pension plan for 35 years and when they are retired collect 70% of their final average salary for 25, 30 or 35 years.

The Pension System Needs To Change

Over the last week we have seen a number of groups release reports analyzing the fledgling Public Sector Pension system. They have concluded that the Public Sector Pension system is broken and is in need of a fix. We at Fair Pensions For All agree. And so do the facts.

Is Detroit a wake up call for Ontario?

Many have asked us over the past week to comment on the comparison of Detroit with Ontario cities and ask: “Could it happen here?” Our response has been that Ontario cities are facing the same funding crisis as cities across the United States.

Crown Corporations: Bigger Bailouts and Deeper Holes

The federal government has taken bold moves towards attempting to reign in the cost of crown corporations.

Fair Pensions For All

OUR VISION: A SUSTAINABLE PENSION SYSTEM THAT IS FAIR TO ALL CANADIANS

Brief to Finance Committee on Income Inequality

We were asked to participate in the current study at the House of Commons Finance Committee into income inequality. Here are some excerpts from our submission...

Ontario Budget: Another Lost Opportunity

It was budget time again in Ontario, and once again, the Liberal Party decided to play politics rather than deal with the financial realities of the have not province that they have created. But with a massive debt, staggering deficits and out of control unemployment, could we really expect any less?

The Great Pension Divide

TORONTO, Public sector pensions are no longer sustainable for taxpayers. At Fair Pensions for All we have been concerned about the fairness and long term solvency of the current defined pension system for public sector employees.

CIBC provides startling commentary on pensions

The announcement from a summit on pensions in New Brunswick today on recommendations for the Canada Pension Plan from the head of the CIBC was very shocking.

Really, Public School Teachers in Ontario want to strike. Why?

LONDON: Lets be honest for a moment. Most of us are getting sick and tired of self- absorbed teachers telling us that somehow they are hard done by. After all, Ontario teachers are the second highest paid in the world, have wonderful benefits and have an incredibly wealthy pension plan. The average teacher works for 27 years and is retired for 32 glorious years. All of this whilst having both of their hands firmly planted in the back pockets of those toiling in the private sector. So, the question that most people are asking is: Why, if teachers are so well compensated, are they threatening job action?

Fair Pensions For All Supports PC Party call for Pension Reform

LONDON: Today, the PC Party of Ontario released its white paper called: Paths To Prosperity: Sustainable Retirement Security. Fair Pensions For All was privileged to be a part of its production, and supports the initiative.

FPFA awaits Minister Flaherty’s Pension changes

HAMILTON: It is widely expected that later this week, Finance Minster Jim Flaherty will unveil changes to the MP pension plan. While the changes may be viewed as significant, the truth is they are largely symbolic. Currently, MPs have one of the richest pension plans in the country. For every dollar that they invest, we the taxpayer, give them 24.

Fair Pensions For All responds to Minister Duncan’s Fall Economic Update

LONDON: The Province of Ontario has become a have not province with over 600,000 people out of work. Over taxed and with government spending out of control the group Fair Pensions For All looked forward to Ontario’s Fall Economic Update. Here is what we found.

Fair Pensions For All issues wake up call to Public Service

LONDON: For years the non-partisan group Fair Pensions For All has been raising the alarm over public sector wages, benefits and pensions. The group has continued to prove that our public sector costs are unsustainable and if things don’t change, we could be headed towards catastrophe. However, this crisis can be averted if the politicians and public sector unions can get their act together. This isn’t about austerity; it is about balance. One where, we the public, are served in a way that provides a positive result for society and is a lure for business investment, not a deterrent.

Time to ban Public Service Unions in Canada

London: Fair Pensions For All believes that Public Sector unions have become a threat to Economic Security. The political power that the Public Sector unions have makes it difficult to fix our fiscal problems and endangers our grandchildren’s future. This must change.