Friday, April 23, 2010

Alberta rejected a national plan on pension reform

Ted Morton, our American finance Minister has done a flip flop on pension improvements opting instead for an Alberta Pension; rejecting all other formats.

An Alberta Pension would go the way of the Heritage Trust fund, itself being a pension in kind.

The Conservatives decided that a 5% profit on investments in the fund was all that was needed to show the fund improve.  During our last race to prosperity, this crew took all profits from investments above 5% and dropped them into the infamous "General Revenues" along with money from bottles that weren't returned and all other revenues.

When challenged on bastardizing this investment they explained the money being put in General Revenues helped pay for goods and services in Alberta so, we we are winning where in fact, the money from the Heritage Trust was included in the surpluses of the day and the end result was a further reduction of the royalty on resources.

If Alberta is allowed to make go their own way and create an Alberta pension fund to augment everyone's income in old age you can bet it too will be pegged at a maximum profit well below the performance capability and, any real profits siphoned off to operate the day to day expenses of the province.

This province being stuck on voting Conservative is the best example of being stuck on Dumb there is!
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