It is a wonderful thing to be a part of a decent pension plan but unfortunately many Nova Scotians don’t enjoy this luxury. Our elected representatives deserve no less; but I believe they deserve no more than any other civil servant. I realize their positions might be considered tenuous but I can’t see that as a reason for holding taxpayers at ransom for a plan that our province cannot afford. It seems strange that there may not be enough money to adequately fund health, education or a myriad of other financial problems but we can afford a gold-plated pension plan for our politicians.
A second sore-spot is this concept of paying the price to attract “good people”. I would like to know what is considered a “good” person. Are they lawyers, engineers, doctors, or what? It would appear these are the people who are most sought after but there is no guarantee these people have any more common sense than anyone else! As a matter of fact they may be so far removed from the difficulties that the “average” Nova Scotian is going through that their perception of financial management is on an entirely different level from the rest of us. Decisions affecting all Nova Scotians are often made by those who can easily afford the consequences. How many people working for our government or the Nova Scotia Utilities and Review Board earn less than $30000/yr?
My grandfather taught me to do an honest day’s work for an honest day’s pay and expect no handouts. Sadly this a premise that seems to be the exception rather than the rule in our society.
I am not sure that I understand David Bell’s submission.Do you mean that we should be liable to contribute up to $18500.00 for an MLA if his earned income from all sources supports the maximum contribution?
I can support matching an MLA’s contribution on a 50/50 basis on an amount warranted by their MLA salary.After that they are on their own forever.
This would take administration out of our hands and eliminate indexing
Pension plans are a savings vehicle and should not be construed as “salary/entitlement etc”. Defined benefit plans are not sustainable and are costing the taxpayer to fund public service “retirements” Most in private indusrty are memeber of defined contribution plans and are funded by employer and employee with funds invested in various markets…seems to make more sense to control costs and provide market driven returns and savings to push for defined contribution plans for public sector employees.
Bill
I agree that we must reform the MLA pension.
A simple approach would be to ensure that the Maximum RRSP limit amount is provided to each MLA as part of their benefit.
No DB plan.
How much do MLA’s contribute to their pension plan vs taxpayers.
George Briand | July 28, 2017 |
It is a wonderful thing to be a part of a decent pension plan but unfortunately many Nova Scotians don’t enjoy this luxury. Our elected representatives deserve no less; but I believe they deserve no more than any other civil servant. I realize their positions might be considered tenuous but I can’t see that as a reason for holding taxpayers at ransom for a plan that our province cannot afford. It seems strange that there may not be enough money to adequately fund health, education or a myriad of other financial problems but we can afford a gold-plated pension plan for our politicians.
A second sore-spot is this concept of paying the price to attract “good people”. I would like to know what is considered a “good” person. Are they lawyers, engineers, doctors, or what? It would appear these are the people who are most sought after but there is no guarantee these people have any more common sense than anyone else! As a matter of fact they may be so far removed from the difficulties that the “average” Nova Scotian is going through that their perception of financial management is on an entirely different level from the rest of us. Decisions affecting all Nova Scotians are often made by those who can easily afford the consequences. How many people working for our government or the Nova Scotia Utilities and Review Board earn less than $30000/yr?
My grandfather taught me to do an honest day’s work for an honest day’s pay and expect no handouts. Sadly this a premise that seems to be the exception rather than the rule in our society.
Greg Jollymore | August 21, 2011 |
I am not sure that I understand David Bell’s submission.Do you mean that we should be liable to contribute up to $18500.00 for an MLA if his earned income from all sources supports the maximum contribution?
I can support matching an MLA’s contribution on a 50/50 basis on an amount warranted by their MLA salary.After that they are on their own forever.
This would take administration out of our hands and eliminate indexing
Bill Fenton | August 21, 2011 |
Pension plans are a savings vehicle and should not be construed as “salary/entitlement etc”. Defined benefit plans are not sustainable and are costing the taxpayer to fund public service “retirements” Most in private indusrty are memeber of defined contribution plans and are funded by employer and employee with funds invested in various markets…seems to make more sense to control costs and provide market driven returns and savings to push for defined contribution plans for public sector employees.
Tim Tregunno | August 17, 2011 |
Bill
I agree that we must reform the MLA pension.
A simple approach would be to ensure that the Maximum RRSP limit amount is provided to each MLA as part of their benefit.
No DB plan.
David Bell | August 17, 2011 |