Saturday, June 6, 2009

Pension Informercials

Anyone reading this blog will know the difference in value between a public sector and private sector pension plan. The public sector employee generally retires with a pension fund value in excess of $1,000,000. The average private sector employee has about $125,000 saved for retirement.

Pension Infomercials
As I study the public sector plans I am sometimes staggered by the audacity of the public sector pensions reporting on their plans.

Here is a pension plan site that had me chuckling with it's audacity. It is the pension site for the BC Municipal Pension Plan. They have a series of videos explaining the pension plan to members. The video called A Paycheque for Life is a real blast! A blast to taxpayers. Just click on the pictures under the video screen to watch the videos. They are only a few minutes long and well worth watching.

This is just like one of those late might cheesy informercials. Check out some of the phrases:
There are many reason why people work... You work every day knowing your future pension cheque gets bigger and bigger
Every mouse click, every email you answer, every shift you work ... that retirement cheque is growing
You are adding to a guaranteed paycheque for the rest of your life. You stop working but the cheques keep coming GUARANTEED

The video entitled There are Lots of Places Your Money Can Go would be like a comedy except it is such an insult to taxpayers.
It includes such greats as:
You can be like this guy and stuff a pile of cash into a hole in the ground
A plan that will always pay you more than you will ever contribute into it!
Best of all you investment is guaranteed for life. now that is something you can take to the bank!
Do you think the guy golfing at the end of this video was working???

Here is one that I ran across last week. This is the annual report for the Alberta LAPP pension. Check out picture of the rainbow on the cover of the report! the only thing missing is the pot of gold. LAPP Pdf Annual Report

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