Friday, March 30, 2012

Meanwhile, in Canada

We see a glimpse into the future:


Canada's Conservative government said Thursday that it is raising the retirement age to 67 from 65 for pension benefits as the finance minister introduced a federal budget features the biggest cutbacks since the mid-1990s.

Jim Flaherty presented a budget that sees cuts of a total of $5.2 billion in annual federal spending, including scrapping the money-losing penny, in the government's first budget since the Conservative party won majority rule.
I would be very surprised if the United States doesn't adopt similar measures very soon, regardless of who wins the election. I fully expect to be working up to the age of 70, assuming I make it that far. A long retirement isn't going to be in the offing for anyone except gubmint workers.

11 comments:

Anonymous said...

Maybe Chile had the right idea. Privatize the retirement system and let people retire when they want. And with 2 to 3 times what the government program provided, it was usually earlier.

J. Ewing

Brian said...

The date of my retirement has absolutely nothing to do with when my Social Security will kick in, because my Social Security will never kick in.

Mr. D said...

The date of my retirement has absolutely nothing to do with when my Social Security will kick in, because my Social Security will never kick in.

Nah, you might get it, although it will be paid in Weimar Republic deutschmarks.

CousinDan 54915 said...

Mr. D, we will get chits for our Social Security. They will be good for ice cream on any day that doesn't end in Y.

Gino said...

we already raised ours to 67, years ago.

Mr. D said...

we already raised ours to 67, years ago.

It's 67 for us (meaning people born after 1960), but as early as 65 for earlier retirees. And you can start at 62, at a reduced rate.

Gino said...

or... claim disability. that seems to be the trend among the blue collar class.

for many who walk on concrete floors all day, the joints give out early. 67 is a loooong time to wait.

for many of us, our bodies just cant take the abuse.

Mr. D said...

or... claim disability. that seems to be the trend among the blue collar class.

for many who walk on concrete floors all day, the joints give out early. 67 is a loooong time to wait.

for many of us, our bodies just cant take the abuse.


Yeah -- I completely believe that. We at least get a layer of carpet over the concrete floors in my office.

Anonymous said...

Sitting all day on your butt in a soft chair is a lot harder on your body than standing all day on a hard floor.

J. Ewing

Anonymous said...

J. Ewing
Doesn't the Chilean system require people to invest money in retirement accounts managed by the private sector? Whatta' you call that again? Starts with an m...

Oh, that's right. Mandate!

Congratulations! You just advocated government mandating participation in private sector commerce.

Is this the new Conservative plan to kill SS? Move it to the private sector then declare it unconstitutional?

And you guys say we're inconsistent.

Regards,
Rich

Gino said...

not exactly the same, Rich.
if you dont invest in SS, you dont receive any.

with obamacare, you pay the fine or go to prison.