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Time for a public-sector pension wake-up call

Author: 2012/01/31

Canadians grappling with slim pickings can't afford rich payouts to MPs, bureaucrats

BY BARBARA YAFFE, VANCOUVER SUN JANUARY 27, 2012

It's getting mighty tough for Ottawa to keep justifying plummy pensions that are exclusively reserved for public servants and MPs.

Ordinary Canadians footing most of the bill for those pay-outs increasingly are having to postpone their own retirements for lack of financial resources. More are entering retirement with debt. Interest rates are rock-bottom. Too few have private pension plans. And companies are snipping away at pension offerings.

The Canadian Taxpayers Federation has cleverly jumped on the issue in advance of a federal budget expected in February or March. The group issued a 65-page report this month condemning the status quo.

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