Today I received a flyer in the mail from my local Conservative MP. Headed “Economic Action Plan”, the sub-heading says Reach Your Retirement Goals. Inside the flyer, they boast “When it comes to Canadians’ retirement, we’ve already: →brought in the largest GIS increase in over 25 years, helping more than 680,000 seniors →established a framework for Pooled Registered Pension Plans (PRPPs) for those who don’t have workplace pension plans →increased the age limit for RRSP-to-RRIF conversion to 71 from 69 →created the popular Tax-Free Savings Account (TFSA) as another savings option”
Let’s put some of this in perspective: those GIS increases top out at $50/month for the lowest income seniors. Seniors who paid their taxes all these years and contributed to this country through some tough economic times. PRPPs, RRSPs, RRIFs and TFSAs still need to grow to be of any use whatsoever – my money would have been worth more under the mattress these last 10 years, and that is with professional advice from major investment firms, and diversification! (Did you read my post: http://agnesknowles.ca/when-is-but-you-didnt-lose-money-an-answer/ ?)
If you are interested in putting your own 2₵ worth in, here’s the link: http://survey.conservative.ca/retirement/4013 – they allow you 400 characters. I used all 400!!
I am so happy I am growing my money my way now.
Photo Credit: http://wondrouspics.com/cool-question-marks/question-mark1/