Alberta Insurance

If you havn't noticed already, your insurance premiums on your home and business are going up by 6 times or more!

When  you consider they are doing away with the 300 deductible that has been the stay for Alberta home owners for years and are jumping into a 2500 compulsory deductible while increasing your premiums by 30%  you have to wonder how much money they are going to make on the recurring flood at High River!

There are 1.5 million homes or more in Alberta now.  This is billions of dollars a year insurance companies are pulling in as extra revenues!.

They are taxing weather disasters heavily whether or not they are disasters.   Example: what is the chance of a flood in a home that is 600 feet above the river bed and 85 feet above the water table?  The answer is no chance at all.

And, the lists go on.

At fault in all of this is the Alberta Conservative Government who have for years ignored and poo pawed the chance of flooding in High River Alberta.   The town did not get its name by pulling a name out of a hat!

This same gutless Government is allowing new builds on flood plains with no protection for the people building .

The thing is that in the Conservative world the insurance companies make the rules with no oversight.  Alberta Government and Insurance organizations meet regularly. The latter support the Conservatives in their plans.   Also they pay the Government 3% of their gross revenues  as part of doing business in the province.

Why in hell people continue to support Conservatives is  mind boggling.  We must have the biggest population of retards in Canada!

Conservatives Continue to Propogate their lie about Pension Shortfalls! UNIONS SOL

Alberta's Auditor General is the most recent leader of the band when it comes to diminishing the hard cold facts of Thievery and Cover ups from the Alberta Conservative!

When the economic crunch first came Alberta put on a make work program for the oil patch.  They felt this necessary knowing full well that the majority of workers in the industry were illegal immigrants and could not collect EI because of that.  At the same time, Harper's Conservatives changed the immigration laws so that anyone working in Alberta could apply for and get an unchallenged citizenship!  Those same laws are being repealed now in the "New Pension Rules" you hear so much about.  The damage is done!

At the end of this Fiasco the Alberta Conservatives, still claiming arms Length from AIMCo, announced the program had cost Alberta taxpayers 6 billion dollars!

At the same time, AIMCo declared a 7 billion dollar loss (10% of their portfolio) while other companies in the same industry were claiming 3% profits!   Now it is apparent that 9 billions of dollars evaporated from the AIMCo accounts.  

Knowing now that the shortfall was 7.4 from the pensions we  have to remember the Heritage Savings an Trust fund (already tapped for over 700 billion dollars) is still in their control and will be at least 3 billion short from their "expectations".  This money was stolen! It is thievery there is no other description for it and it makes AIMCo the biggest risk on the market place!.

The R.C.M.P. cannot investigate the provincial government unless they first get permission to do so from the Attorney General a position that Redford filled for a  number of years.

The article published by the Stony Plain Reporter does not allow for any comments as a condition of publishing put on by the Government.  They started off saying the 7 billion was lost though bad investments and when they were busted by Alberta the Details they changed their tune to Pension Shortfalls.

Now, they are using this same thievery and cover up to do a hatchet job on provincial pensions!

A nice case of a good red wine would be appropriate way of saying thanks John.

Following is the copy from the Stony Plain News:

NEWS LOCAL

Alberta Auditor General makes recommendations for pension reform

By April Hudson, Spruce Grove Examiner/Stony Plain Reporter

Friday, February 21, 2014 8:02:43 MST AM

Alberta’s Auditor General, Merwan Saher. IAN KUCERAK/QMI AGENCY

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Alberta’s Auditor General recently released a report criticizing the sustainability of Alberta’s public sector pension plans.

Pension plans under consideration include: Local Authorities Pension Plan (LAPP), Management Employees Pension Plan (MEPP), Public Service Pension Plan (PSPP) and Special Forces Pension Plan (SFPP). All are included in the Treasury Board and Finance Department’s pension reforms, in the purview of Spruce Grove – St. Albert MLA Doug Horner.

According to the report, the audit project began in 2011 as a result of concerns regarding the financial health of Alberta’s public sector pension plans. The audit report confirmed those concerns, noting that pension plans are facing funding challenges.

“Alberta’s public sector pension plans have significant unfunded liabilities and contribution rates that have risen to levels where some employers and employees do not want to pay more. On Dec. 31, 2012, those unfunded liabilities totalled $7.4 billion,” the report says.

Three specific recommendations have been listed in the report: first, that the department set standards for the public sector pension plan boards to establish funding and benefit policies; second, that they establish a risk management system; and third, that sustainability support processes be undertaken.

Horner said he’s pleased with the audit results and feels the recommendations are in line with what his department is already doing.

The results are based on the Auditor General’s observations up until July 2013. Since then, the department has put in much work on the pension reforms.

“In order to protect defined benefit pension plans for our employees, some changes have to be made. He agreed with that; he backed it up,” Horner said.

“We’ve talked to the plans, we’ve asked them for suggestions, we put some proposals on the table, we opened up a comment period until the end of December … and we said that in those defined benefit pension plans that we’ll be moving forward.”

Horner said pension reform isn’t something that should be creating a fuss among stakeholders. Since the process has been underway, he said he’s had many phone calls and emails from pension holders concerned that their pension will be changing — a misrepresentation he said is “irresponsible” to spread.

“We’re talking about earned service after 2015. If you’re retired today, nothing changes for you,” he said.

“Nothing in the program we’re doing would have any effect on current retirees’ pensions. To come out there and simply get people afraid so you’ve got more people to write letters, that just smacks to me of being very irresponsible.”

Unions such as the Alberta Union of Provincial Employees (AUPE), he said, have had opportunities to contribute suggestions, but most of the time those suggestions were that the pension process is fine as it is.

“As we’ve been saying for a long time, we wish (the unions) would have been at the table with us providing us with some good opportunities. Instead, they want us to stop. I don’t get the idea of stopping when you know there’s a problem,” he noted.

“The fiduciary duty of members on the board is to members of the plans, past, present and future. To do nothing, in my view, is to shirk that duty and I think it’s something the union leadership should be thinking about.”

Horner said the Department of Treasury Board and Finance has also received comments about early retirement. Many of the pension plans have an early retirement subsidy included in them, and he said that subsidy remains the same up to 2015. It’s only the years served after 2015 that would see a difference.

From July to December, the department accepted comments and suggestions. The end result will be some changes to what had originally been planned for pension reform.

“We identified that firefighters are probably (employees) where we need to make special circumstances, or peace officers who are in the line of duty,” he noted. “We’ve listened to concerns around the early retirement provision and we’re going to make some changes there (too).”

Those changes will be presented to the pension boards, followed by a public announcement.

Recommendation 1: Policies designed to achieve plan objectives

We recommend that the Department of Treasury Board and Finance set standards for the public sector pension plan boards to establish funding and benefit policies with:

• Tolerances for the cost and funding components;
• Alignment between plan objectives and benefit, investment and funding policies;
• Pre-defined responses when tolerances are exceeded or objectives not met.

Implications and risks if recommendation not implemented:

• Unclear disclosure of the circumstances could create a lack of stakeholder understanding about the decision making process.

Recommendation 2: Risk management system

We recommend that the Department of Treasury Board and Finance establish an Alberta public sector pension plan risk management system to support the minister in fulfilling his responsibilities for those plans.

Implications and risks if recommendation not implemented:

• Less likely to identify risks and implement risk management activities effectively. Because the system has been designed with multiple parties, a consolidated approach to risk management is necessary. Otherwise, plan boards, AIMCo, APS and the department are more likely to duplicate efforts, fail to identify and manage risks and fail to manage risks outside of the plans’ and stakeholders’ risk tolerances.

Recommendation 3: Sustainability support processes

• Validate the objectives for the pension plan sustainability review with stakeholders;
• Evaluate and report on how each proposed change meets the objectives for the review;
• Cost and stress-test all proposed changes to assess the likely and possible future impacts on Alberta’s public sector pension plans;
• Conduct or obtain further analysis of the impact of proposed pension plan design changes on employee attraction and retention;
• Prepare a detailed implementation plan for the changes.

Implications and risks if recommendation not implemented:

• The department may not achieve its sustainability review objectives.

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Fracking not out of Control Debate

The working word in the Calgary Herald  article is "not entirely right" obviously a hedge!

This stuff started with the Coal Bed Methane extractions a couple years ago. Obviously not counted in the article!  A series of holes are punched through the water aquifer into the sub strata where the gas is. Cementing should take place to seal the holes. However private investigations show the garbage from the sub strata in southern Alberta has migrated into the Water Aquifer for several miles!

The substrata garbage contains a lot of stuff some not identified. However, it also contains heavy metals notably arsenic and cyanide. Sure, in the Governments view a little of this stuff in your drinking water will make your hair grow nice and shiny but, not everyone agrees.

 Conservatives and Wild Rose are under pressure to import a bunch of workers. In the Conservative philosophy Alberta must survive on taxes alone. No revenue collected from royalty that is rightly ours; The little revenue from land leases which have dropped to their lowest in history may or may not be on the invitation of the Conservatives.  Recent complaints to the Feds about steel workers being laid off and replaced by foreign casual is only the tip of the iceberg!

Because Universities have been severely cut back in revenue the oil and business professionals are being brought in from around the world; not Alberta.  Kids still go to trade schools for quick bucks with the idea they can simply jump into university when they get the cash.  Nothing is further from the truth as the education they get is completely inadequate!  

That still is not enough to get the taxes needed to run the province so they open up the province for wholesale (very cheap or not returns) on industry as the push to rip resource out of the ground like there is no tomorrow.   The object isn't production so much as getting the employment numbers up, mostly foreign to get them or the WRP elected again (it doesn't matter to them!)

The revenue we are not collecting on oil and gas (hundreds of billions of dollars) does not stay in Alberta. It goes to the parent companies in the US and abroad. Collecting such revenues will not affect employment!

Albertans' have to give their head a shake and get off this Conservative-Wild Rose bandwagon that is a mindless; lazy position that is robbing you, your kids and grand kids of their rightful futures.  You are rapidly loosing  your public school system!

The shortage of revenue works in the Conservative favour! Now they can press harder for private schools, cut health care even further. The list goes on. There is not a Conservative Government in History that has produced a surplus!

The first thing Harper did in taking office is give away 75 million dollars in surplus funds to corporations on unnecessary tax breaks; none of which has shown up back into the economy!