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We need to convert public sector pensions to defined contribution plans now. Lets create equality for all Canadians!

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.

Annual Retirement Savings into Contributions by Canadians

2003 - Public Sector Defined Benefit Pensions - $ 7.5 B -- RRSP's - $ 29.0 B 2013 - Public Sector Defined Benefit Pensions - $33.7 -- RRSP's - $33.9 In this Fast Fact we show how taxpayers have provided over $100 Billion in bailout or "special payments" to public sector pensions over the past decade. Why are we contributing so much more into our neighbor's pension plans that our own RRSP?

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In 2003 Canadians contributed $29 B into RRSP's, the savings vehicle for those 65% of Canadians without pensions, while public sector pensions had contributions of $7.5 Billion. By 2012 the contributions into RRSP's were $33.9 but public sector pensions contributions had rose to $33.7. RRSP's increased by a little over 16% and public sector pensions by over 400% during this period. The annual increases into RRSP's in this period were about 2.5% a year. Had contributions into public sector pensions increased by the same rate they would be at approximately $10 B annually, not the $34 B they are today in 2013. The increase over and above the rate private sector Canadians were able to contribute to their RRSP's is the estimated over contribution rate or bailout, into public sector plans. The cumulative difference, over a decade, between the annual increase in contributions into RRSP's vs. contributions into public sector pensions amounted to $107.1 Billion. This is the amount that Canadians unknowingly contributed to the public sector pensions from 2003 to 2013. This annual contribution bailout does not included the current shortfalls in these plans estimated to be over $300 Billion. This is the amount of money these plans are still short to make good on the promises that have been made to public sector employees. We need to convert public sector pensions to defined contribution plans now. Lets create equality for all Canadians! Note: This information has been obtained from Statscan and the Pensions Satellite Account Please contact: Gareth Neilson, Director of Communications, communications@fairpensionsforall.net Bill Tufts, Executive Director


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Bill Tufts -- Bio and Archives

Bill Tufts, Fair Pensions For All, founded in January 2009, our goal is to promote an honest and fair analysis of our pension system; to expose abuse and waste within the system; to develops and promote new ideas and concepts on pensions based on fairness for all.

We maintain that it is every Canadian’s right to receive sufficient income in retirement to afford an acceptable quality of life.


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