Debate on Pooled pension plan

[Topaz]

The House is debating this today and I just wonder how many workers who don't have a pension plan at work or on their own will go to this one. Perhaps if you have a full time job but what about part timers? By this following article there could be a snag in Ontario with this plan. Also, since its financial institutions and insurances doing this and making the money at it, then investors could make money by investing in those businesses. How many here will enroll in ths plan? http://online.wsj.com/article/BT-CO-20120327-719704.html

[CPCFTW]

How many here will enroll in ths plan?

AFAIK you can't really enroll in the plan unless your employer decides to offer it, or if you are self-employed. I believe the idea is to make pension plans affordable to smaller businesses.

Edited May 30, 2012 by CPCFTW

[fellowtraveller]

AFAIK you can't really enroll in the plan unless your employer decides to offer it, or if you are self-employed. I believe the idea is to make pension plans affordable to smaller businesses.

I believe the ideas is to provide as many vehicles as possible for Canadians to save for their retirement, which will perhaps reduce the mighty burden about to descend on the spawn of the boomers.

RRSPS, TSFA, deferred OAS, modified CPP, private pensions, corporate pensions, pooled pensions- all to take the heat off the few remaining working people in a generation or so.

[Argus]

A managed pension plan would certainly be better than people trying to manage their own savings. Most people really don't understand how investment works. I've spoken to any number of intelligent, educated middle class people who have been losing money in their RRSP and RESPs for years. They don't really understand mutual funds, and don't know what to look for before getting into them. They listen to charlatans and frauds who, to be honest, seem to be the majority of 'financial advisers', and some of those other frauds on television, and buy into crappy investment tools which make them very little - or lose them money. And if they don't understand, what are the odds people with less education won't be taken to the cleaners?

Ordinary people should not be buying stocks (how many ignorant but enthusiastic folks bought Facebook on its first day?). And nobody should be investing in mutual funds with their ripoff fees. Gold is not a 'sure thing', it's a a gamble, a bet on whether it will go up or down. Few people are equipped to make the kinds of decisions about investment you have to make with a retirement fund.