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Retiree Pensions - John McCabe

Hi again Phyllis,

I was reading an article recently in the magazine "Good Times" - "Canada's Magazine For Successful Retirement", titled "Your Rights", July/August 2012. It is written by a contributor Olev Edur. I don't know his background or qualifications, but he writes with conviction and seeming knowledge of the subject.

As I read the article one paragraph jumped right off the page at me. It says "One of the main reasons increasing numbers of retirees are running into trouble with their finances is that inflation continually erodes the purchasing power of those on fixed incomes on which they rely, and this problem will only worsen in the face of relentless price increases from everything from fuel to food."

The article also shows a chart from the Vanier Report which indicates that, for the 10 year period 2002 to December 2011, the CPI rose 20.2% while the price for frequently purchase items such as home heating fuel, gasoline, food, tuition fees, home prices/rent, communication services, insurance, utilities, etc., have increased from 41% to 79.5% over the same period and heating fuel oil actually increased 140% - more than double the CPI in all cases.   

Everything above speaks volumes for the importance of the maintenance of the cost of living increases we retirees have contractually earned by our years of service with the Province. We are only asking that that contract be honored. Facts such as those presented in articles like the one above and the information provided in the Vanier Report are self evident and irrefutable.

I applaud the dedication and efforts of the Pension Coalition executive and membership to continue to fight for our rights. Keep up the good work.

Sincerely,

John McCabe