Posted on: 26-01-12 21:03:15
Pension age to be raised to 67 from current 65 ?.
Harper speaks at WEF Davos.
Govinda "...........Govinda"..............
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Sunny Leone a true Canadian DESI now back in India !.
He is talking tough and talking about major changes to immigration and OAS.
I think TK's words are coming true.
The OAS has gone bust and one tax payee might support one retiree in another 20 years.
The McMaster university report wants 70as the retirement age.
When similar stuff happened in Italy there were riots on the street.
Canadians are too kind and they will let it pass.
Thanks to all those who voted conservative.
The way things are going we have to plan Desh chalo for retirement.
I thought this discussion and thread will light up this board but well Ignorance is bliss.
The only thing I can say is welcome to immigrants and please pay your taxes so that I can retire with whatever is left behind in kitty.
Jai ho TK.
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Sunny Leone a true Canadian DESI now back in India !.
I think biggest change in the retirement pension will come may be not now but in 20 years for sure and that is how Govt calculates how much assets you have.
At present even if you own mortgage free home as far as I know Govt does not consider it as an asset while calculating pension eligibility hence most of the people they do not contribute much into any kind of pension kitty but instead they focus on paying mortgage and buying bigger house but I am sure in the future they way pension fund and reserve along with old age population is increasing, Govt will come out with a law where they might consider either 10% or 20% or 50% of your house value as an asset you own while calculating your pension then at that time what most of the people will do? :-)
This means people need to struggle for income until 67 years. I don't know how many asians can take OAS after 67, because I guess average life span of asian is 60 years.
Quote:
Originally posted by Vandematram
The way things are going we have to plan Desh chalo for retirement.
Reminds me of a picture "a ab laut chalen"
This has nothing to do with voting conservatives. Pure economics. US social security is also under sever strain and their Democrats ( same like liberals) are making cuts as well. France and Greece are not conservative governments.
It is sad , but it will move to 67 or even beyond. If one wants to start the benefits sooner, say at 60 , they will have to incur a huge reduction ( penalty) in the benefits.
When I went to India, I saw people aged 58 , 60 already retired and they look young and active by Western standards and were already enjoying retirement.
Many US citizens, move to places in Mexico to avoid huge living expenses here in NA. May ne as a fellow desi suggested, heading back to India might be an option but there the living expenses are going up like crazy.
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Non illigitamus carborundum
Quote:
Originally posted by Vandematram
The only thing I can say is welcome to immigrants and please pay your taxes so that I can retire with whatever is left behind in kitty.
Jai ho TK.
+1.......
