Seniors issues and pensions
The idea of a Green New Deal—a radical and comprehensive transformation of the economy to cut greenhouse gas emissions while tackling inequality—has been gaining steam as an organizing principle for the environmental and social justice movements. Yet there are many questions that GND advocates have yet to think through or agree on. Like how can we produce enough electricity to rapidly replace all fossil fuels? Will new, green jobs be good, unionized jobs that are accessible in the places where jobs are needed most? Crucially, how will we pay for it all?
Too many seniors in our province struggle to find publicly subsidized assisted living where they can be supported as they age. Amidst an affordable housing crisis felt across generations, the need to significantly boost the supply of subsidized assisted living is more urgent than ever before.
Access to publicly subsidized assisted living in British Columbia has fallen since 2008 for British Columbia seniors. Between 2010-2017 BC added only 105 units of publicly subsidized assisted living despite a growing seniors’ population while—more than 10 times that number—1,130 private-pay units were added. Seniors who cannot afford to pay privately may go without care altogether or wait until their health deteriorates to the point of requiring a nursing home or hospitalization, this report explains.
Vancouver — BC added a mere 105 units of publicly subsidized assisted living over nearly a decade (2010-17), despite a growing population of seniors. As a result, access to subsidized assisted living dropped, while the number of private-pay units grew by leaps and bounds over the same period, with 1,130 private-pay units added.
Photo by Hugo Morales, Wikimedia Commons
Canada’s income tax system has a lot going for it. On balance, its rate structure is progressive. While there are flaws in our system of self-assessment, such as underreporting of income or aggressive tax planning (to avoid taxes owing), most Canadians seem to be motivated to comply with tax rules.
You can’t assume that government budgets affect men and women the same way—or other groups for that matter—since men and women generally occupy different social and economic positions. Unfortunately, until very recently, governments have done exactly that—developing policies and assigning funding to them in a gender-blind fashion.
OTTAWA—Canada’s largest publicly-traded companies could have eliminated their defined benefit (DB) pension deficits five times over with the value of what they chose to pay out to shareholders instead in 2017 alone, according to a new report released today by the Canadian Centre for Policy Alternatives (CCPA). Put another way, these companies could have easily eliminated their pension deficits and still continued shareholder payouts.
This report updates research published by the CCPA in 2017, and compares the pension deficits of the roughly 90 companies on the S&P/TSX Composite Index with defined benefit (DB) pension plans to shareholder payouts between 2011 and 2017. These company plans account for a large portion of all the country’s private DB assets.