Pooled Pension Plan

Another Bonehead Idea

from

"Your" Conservative Government

The majority of Canadians do not have a private pension plan. The Conservatives are proposing a pooling of pensions for those middle class, low income and self employed individuals who do not have a plan. They can now pool with another group of individuals in the same trouble as you. But you do have an opt out option.

Wonderful! Now the most vulnerable, those with low incomes, can now opt in and out of the program. Those who can least afford it will opt out.

So what happens to their deposits when they opt out? They carry them over to their next employer who may or may not be a contributor to the plan.

The self employed can now contribute to the plan.... but they have the greatest failure rate. So what happens to their deposits?

Industry Canada says that 70% of businesses with 1-99 employees survive after 5 years... that's a 30% failure rate.... what happens to their deposits?

Who benefits from this Conservative plan

Big Banks

What more can I say..... besides

Thank you Stephen for F#@&ing Canadians once again


Oh Yeah! What happens when the economy hits the shitter and these small companies go bankrupt ?

Business Failure Statistics

Business failure statistics show that about 96 percent of small businesses (1–99 employees) that enter the marketplace survive for one full year, 85 percent survive for three years and 70 percent survive for five years (Key Small Business Statistics - January 2009, Industry Canada).

Microenterprises (businesses with 1 to 4 employees) have a slightly lower business failure rate than other small businesses; after five years in business, 70.4 percent of micro-enterprises survived compared with 66.9 percent of other small businesses (Ibid).

Looked at another way, though, "smaller" businesses fare less well than bigger ones. Businesses with revenues of less than $30,000 had significantly higher business failure rates than those observed for businesses with revenues of more than $30,000. Of those businesses with revenues of less than $30,000 that started in 2001, 55.0 percent survived after three years and only 36.1 percent survived after five years (Ibid).