Only 6 Countries Have Sound Pension Systems, Luckily Canada IS On The List

December 12, 2011 by Leave a Comment

Only 6 Countries Have Sound Pension Systems, And America Isn’t On The List

Andrew Shen and Gus Lubin

Only six national pension systems earned a ‘B’ grade on Mercer’s 2011 global index, which was given to systems with “sound structure” and “room for improvement.”

The best systems are in the Netherlands, Switzerland, Sweden, Australia, Canada and the UK.

Every other pension system was rated as unsound, jeopardizing the future of the elderly population. The U.S. earned a C grade, signifying “some major risks and/or shortcomings.”

Canada — rated “B”

Adequacy: 74.1/100

Sustainability: 55.8/100

Integrity: 79.7/100

“B” refers to: A system that has a sound structure, with many good features, but has some areas for improvement that differentiate it from an A-grade system. Adequacy is an index based on funding. Sustainability is based on demographic trends. Integrity refers to private-sector plans.

 

Read more…

 

 

Filed Under: Canadians, Freedom, Income, Pensions, Retirement, Savings · Tagged With: , , , , , , , ,

The Troubled Future of Real Estate

October 6, 2011 by Leave a Comment

Excellent blog post by Garth Turner on the Real Estate Markets.

On Wednesday many thousands of people swarmed Lower Manhattan. It was part of a movement called OccupyWallStreet. Some marched because they cannot find jobs. Some because they’ve lost their homes. Some because of debt, after costly education for work which doesn’t exist. Some because hope is gone.

This is a seminal movement. It’s harnessed the power of communication, so growth is infinite. Alienated people, in enough numbers, can change everything. So long as it’s apparent that getting a degree, working hard and playing by the rules gets you unrepayable debt, zero job security and no chance at the house or retirement your parents had, alienation will continue. The named target is corporate greed. But it’s a protest against failed expectations.

About the time this was happening, Doug in Vancouver read yesterday’s blog and sent me this:

We’ve been hearing the same fodder from “experts” year after year for the past 5 or 6 years about the unsustainability of Vancouver housing prices…and their apocalyptic opinions continue to be wrong. I assume you don’t live in Vancouver. If you did, you’d know that the local, national and international clientele who have decided to make this beautiful city their home really don’t care about anyone’s household income, or whether people can afford to buy a home here or not. Its not about them…its about those who can afford it here. Simple. Can’t afford it…move to Manitoba.

Kind of makes you want to occupy Yaletown and carry Doug’s head on a stick, doesn’t it?

Read more…..

Book and Weblog – Authored by Garth Turner — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate.

Filed Under: Canadians, Freedom, Market crash, Money, Savings · Tagged With: , , , , , , ,

It’s Tax Freedom Day, but only death brings real tax freedom

June 6, 2011 by Leave a Comment

By Gordon Clark, The Province June 5, 2011

Stick a candle in a cake and blow it out: we’ve all got something to celebrate. (On second thought, you’d better not light those candles. You don’t want to add to your carbon footprint.)

If you believe the Fraser Institute (and who doesn’t?) Monday is Tax Freedom Day in British Columbia, the day “the average Canadian family has earned enough money to pay the taxes imposed on it by the three levels of government.”

We’re lucky we remain such a cosmically underdeveloped species and so far classified as “untaxable” by the Intergalactic Council, or we’d have a fourth level of government to worry about.

I suppose I should be more excited by Tax Freedom Day, but I’m not. I’m holding off our household’s carbon-neutral celebrations involving Judeo-Gaelic folk-dancing and rooibos tea until Mortgage Freedom Year, which should occur, given our dubious decision to buy a house in Vancouver, sometime in the 2070s as long as we stick to our accelerated bi-daily payment schedule with the bank.

According to the Fraser Institute, the average B.C. family earning an average of $85,745 in 2011, will pay an average of $36,611 in total government-imposed income, sales, liquor, tobacco, amusement, excise, auto, fuel, carbon, motor-vehicle licence, transit, social security, pension, medical, hospital, property, import, profit, natural resource, and other taxes, duties, levies and fees.

Filed Under: Canadians, Freedom, Money, Savings, Tax, Taxation, Taxes · Tagged With: , , , , , , ,
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