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Thread: Algoma Pensions

  1. #1
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    Default Algoma Pensions

    Are they gone ??? not good

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    Senior Member Anapeg's Avatar
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    Default Re: Algoma Pensions

    Quote Originally Posted by blueboy View Post
    Are they gone ??? not good
    Wouldn't be surprised as they have had everything else their way why not put it to the pensioners.
    The aim of argument, or of discussion, should not be victory, but progress.
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    Senior Member riggs's Avatar
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    Default Re: Algoma Pensions

    No movement on anything yet. While the term lenders claw back on any revenue exceeding $25,000,000 on a weekly basis, they themselves are not in a hurry. The weekly revenue stream has them quite content before terms and conditions are applied through an agreement. Only time will tell if the new judge has any interest in expediting the process.
    CANADA................"often imitated but never duplicated"

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    Default Re: Algoma Pensions

    What's an Algoma Pension??
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    Senior Member Bluesky's Avatar
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    Default Re: Algoma Pensions

    I don't get it. Why is there no law that protects pension contributions? Even the govt spends our pension contributions on other stuff. This is criminal.
    The heart of the human problem is the problem of the human heart.

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    Default Re: Algoma Pensions

    Just look at what happens at Sears. They don't contribute enough for years and there are no consequences for Sears, just for the pensioners. Sears and Sears shareholders walk away with the cash.
    http://globalnews.ca/news/3579070/wh...-benefits-are/


    This is why I am a great fan of the way pensions are done in Europe: the government collects all of it and spends it on whatever they want.
    Since it is extremely rare for a government to go truly bankrupt, your payments are safe, even if all the money is gone.
    If they would do the same thing over here we would never have these issues, unless Canada declares bankruptcy. The chances of that happening during your lifetime are less than the chances of winning the lottery twice in a row.
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    Senior Member Anapeg's Avatar
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    Default Re: Algoma Pensions

    Quote Originally Posted by Hans View Post
    Just look at what happens at Sears. They don't contribute enough for years and there are no consequences for Sears, just for the pensioners. Sears and Sears shareholders walk away with the cash.
    http://globalnews.ca/news/3579070/wh...-benefits-are/


    This is why I am a great fan of the way pensions are done in Europe: the government collects all of it and spends it on whatever they want.
    Since it is extremely rare for a government to go truly bankrupt, your payments are safe, even if all the money is gone.
    If they would do the same thing over here we would never have these issues, unless Canada declares bankruptcy. The chances of that happening during your lifetime are less than the chances of winning the lottery twice in a row.
    I can see this becoming a reality here in Canada if not, in fact, all of North America due to the change in work habits. One rarely if ever works at a single job for their working life any longer. It is a luxury afforded very few. A pension that followed you consistently throughout your working life would be a real bonus.
    The aim of argument, or of discussion, should not be victory, but progress.
    Joseph Joubert

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