Dan Albas MP
  • Home
  • MP Report
  • About Dan
  • What Seniors Need To Know
  • Contact
  • Constituency Services
  • Dan in Ottawa
  • Disclosure
  • Videos
  • Home
  • MP Report
  • About Dan
  • What Seniors Need To Know
  • Contact
  • Constituency Services
  • Dan in Ottawa
  • Disclosure
  • Videos

MP Report

MP Report for Okanagan-Coquihalla January 23, 2012: On Pensions and Petitions

1/24/2012

0 Comments

 
Never let it be said that Canadians are not a diverse and energetic population when it comes to expressing personal points of view on a range of different topics.  This is something that I welcome, as it indicates to me that people are engaged in the discussion of how we can build a better country. Recently I covered the topic of a proposal for the Glacier Discovery Walkway project in Jasper National Park.   The intent of my report was not to ask citizens to support or oppose that project but rather to clarify what was being proposed in response to inquiries from constituents. In the days that followed, I heard from citizens who are very strongly in favour of the project and from those who believe there should be no public amenities whatsoever in national parks.

Recently another topic that I am hearing a diverse range of opinions about pertains to the subject of pensions. Currently there are concerns being expressed to me by many public sector employees regarding the future of their pension plans. At the same time I am also hearing from taxpayers with concerns about the costs of public sector pension plans, as well as the costs of pension plans for Members of Parliament. There has been much speculation recently in the media that there may be pending changes to pensions within the public sector. Currently our Government is looking at all forms of public sector spending in order to find efficiencies and savings without raising your taxes. At this point, all options are being considered. I will state for the record that should changes be proposed to the MP pension plan that is more respectful of the taxpayer I will fully support such initiatives. I will note that individuals in the public service pay into and earn them; however contributions and benefits must be fair to the taxpayers who help fund them.

My office also receives on a regular basis questions from many citizens about the different programs that the Federal Government administers, like the Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS).  For your information, here are a few points about these programs:

 The CPP is generally funded equally by you and your employer during your working years. CPP can provide benefits for loss of income created by disability or retirement. The benefits are ultimately calculated by how much you have contributed and over what length of time. Currently the maximum CPP retirement pension amount is just under $ 1000 monthly at age 65. You can start collecting CPP as early as 60 or as late as 70 however different rates would apply. In contrast OAS provides a modest pension to most Canadians at age 65, if you have lived in Canada for at least 10 years.  For the record, federal Liberal bill 428 that proposed lowering the 10 year residency requirement was not passed by Parliament. The maximum OAS payment is just under $ 550 monthly for those individuals with 40 years or more of residency after their eighteenth birthday. Seniors with earnings in excess of roughly $ 70,000 per year will gradually receive a lesser OAS benefit that ultimately is eliminated for an income in excess of $ 112,000 a year.

The GIS is specifically for lower income seniors 65 and older with an income of roughly $ 16,000 annually or less. If you have questions for any of the above programs you can contact Service Canada toll free at 1-800-622-6232 for further information.

While these three programs are generally well known, they certainly aren’t the only ones that the Federal Government administers as part of a broader social safety net. In fact, 60% of the money that is spent at the Federal level is in transfers which go direct to individuals or the provinces for their use. With increasing demographic pressures coupled with the backdrop of a fragile economic recovery, the one thing we can count on is a robust discussion of our options, as we look to do our part in the building of a better Canada.


0 Comments



Leave a Reply.

    Subscribe to the MP Report

    Sign up now to get Dan's weekly MP report emailed directly to you! 
    OR
    Sign up now to get a monthly MP Report mailed directly to your home.
    Subscribe Here

    Author

    Dan Albas is the Member of Parliament  for the riding of Central Okanagan-Similkameen-Nicola.
    ​
    Communicating with his constituents is one of his top priorities. Dan writes a new MP Report each week.

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    July 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011

    Categories

    All

    RSS Feed

​Dan Albas is the proud Member of Parliament for 
Central Okanagan – Similkameen – Nicola
Subscribe to Dan's MP Report
Contact Dan
Photos used under Creative Commons from comedy_nose, bulliver, FutUndBeidl, scazon, Asian Carp Regional Coordinating Committee, Chris Lancaster, Jamie In Bytown, mikecogh, couloir