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MrsJoe 76F
17280 posts
6/26/2016 12:00 pm

Lifestyles have changed too. People used to know how to save for the rainy day. Usually, by the time they retired, their mortgages and debts were paid, their children gone and raising families of their own, so all people needed day to day living expenses.
Now look..... most people are still stuck with a mortgage, debts, and often with lazy grown kids living at home and/or raising grandkids.
Social Security wasn't and isn't to maintain a working man's lifestyle, but a quiet retired life. And our government has taken even that away from people.

Be a prism, spreading God's light and love, not a mirror reflecting the world's hatred.


MrsJoe 76F
17280 posts
6/26/2016 12:05 pm

Oh, and explain this one to me.
A person can work and retire from more than one job, with a pension from both, and with SS based on his lifetime wages.
BUT...... if one of those jobs was in the post office, AND he also worked "regular" jobs all his life and paid SS from those jobs, when he retires, he can draw his postal retirement benefits (which he paid into) but not his full SS benefits (which he also paid into)
Back in the Reagan adm. it was decided that would be double dipping and the SS benefits were greatly reduced. Makes no sense to me!


Be a prism, spreading God's light and love, not a mirror reflecting the world's hatred.


frenchsalsa2 77F
7809 posts
6/26/2016 12:57 pm

Ranger, I won't comment on your SS conversation or how your elderly are not taken of. But as an FYI, we Canada do watch American TV but we also are inundated in Canada with American politics, simply because a lot of it pertains to our own country's political climate. Hence our reasons for being so knowledgeable about the US and other countries abroad.

Just to clarify our pensions here in Canada, there is a government-run social insurance program called the Canada Pension Plan (CPP); Quebec has their own called QPP. Workers who contribute over the years become eligible to collect (but must apply for) at ages 60 to 65 (the latter being the highest for eligibility). So needless to say, this amount varies, depending on years of working service but there is a 'cap'. In addition, for disability, retirement and survivor benefits, one can also apply. While disability and retirement benefits are available during the contributor's lifetime, survivor's benefits are only available after death. While the benefits become available to the surviving family, there are conditions and restrictions.

In addition, we in Canada are eligible for Old Age Security (OAS), and must: be 65 years old or older; be a Canadian citizen or a legal resident at the time you apply for your Old Age Security pension application, and have resided in Canada for at least 10 years after turning 18. By the way, our senior age has always been 65 but was in recent years increased to 67 (now talks of reducing that again to age 65). This amount remains the same for everyone.

But both our CPP and OAS are indexed annually. Plus there are those collection a third pension, such as government, company, and/or military.

As for the health care benefits for seniors, prescription rates are reduced and all health care is governed provincially. That means, for example, that some provinces may or may not allow certain benefits. Many residents either have separate health coverage plan for incidentals like prescriptions, vision & dental care (not covered by our provincial health care) either through their workplace, government/military pensions etc or they purchase a plan of their own.


frenchsalsa2 77F
7809 posts
6/26/2016 1:17 pm

Ranger, I omitted to mention above that throughout one's working history, one is also able to invest in our Registered Retirement Savings Plan (RRSP). An RRSP is a retirement savings plan that you establish, that is registered, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan. Upon retirement, that works a little differently. There are all sorts of ways one can withdraw the money (in certain amount) without the penalty (tax) being too high. Upon the age of 70 your RRSP can be turned into a LIF (a life annuity) from which you are eligible to draw a minimum each year or month. There are also tax implications when the annuitant of an RRSP dies & such a Plan is then transferred to the spouse etc.