Editor, The Times:
Re: (‘Are pensions too rich? McLeod eligible for $35,000 after six years,’ Jan. 24):
When asked by KTW reporter Jeremy Deutsch if the number was correct, Kamloops-Thompson-Cariboo Conservative MP Cathy McLeod, in letter-perfect political fashion, evaded the question, saying MP pensions would be discussed in Ottawa later in the month.
Those of us in the private sector better hope they’re discussed – and with utmost urgency.
Public-sector pensions are rapidly bankrupting Canada’s health care, education and private-sector retirements.
Don’t forget, when McLeod’s minimum $35,000 pension kicks in, it will be indexed to inflation.
Because of this indexed feature and the early retirements afforded public-sector workers, by the time many of them are 80 or 85, they’ll be paid as much, or more, in pension than what they earned in their final year of employment – all guaranteed by the taxpayer.
The 20 per cent of Canada’s workforce that is the public sector has more money in its pensions then all the rest of us.
Still, our governments have promised billions more dollars to these workers that, for the most part, aren’t there. Underfunded, indexed public-sector pensions are responsible for over half of our ballooning national, provincial and municipal debt.
All Canadians, public-sector workers included, should educate themselves on this issue before becoming, like me, enraged at our governments for having, over the last few decades, built these massive pension debts that are now coming due.
I expect my MP to rail against these unsustainable defined-benefit, public-sector pensions in Ottawa, but I’ll bet we barely hear a whisper.
Tim Francis
Kamloops, B.C.
