Wednesday, July 22, 2009

Public Sector Pension Club get annual pensions in excess of $100,000

In Canada and the US thousands of public sector employees are retiring with pensions in excess of $100,000 per year. These plans will never fail, because they're backstopped by the taxpayers.

These pensions cost taxpayers Billions and have started a financial crisis for governments at all levels on both sides of the border. Jack Dean of the Pension Tsunami recently went to court to obtain the release the names of pensions over $100K. It has been a cause of Jack to protect taxpayers for over 5 years.

In a recent radio interview Jack discussed the crisis these pensions have created and the challenge he has had to make all taxpayers aware of the crisis. The radio interview begins at about 10 minutes. Jack’s radio interview

The problem in Canada continues to run its reckless course. Recently Bill Robson of the CD Howe Institute estimated the shortfalls in public sector pensions to be in excess of $422Billion. As Margaret Wente reports in her article about the pension crisis… Luckily for us, we don't riot in the streets. We just phone talk shows and sound off.

The issue of $100,000 pension is one that needs to be discussed. Are they fair? should taxpayers be the ones funding them? The Wall Street Journal covered the issue recently in Group Shines Light

Do we need a Sunshine List of pensions in Canada?

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