On 18/04/2010 11:26 AM, hk wrote:
On 4/18/10 1:07 PM, Canuck57 wrote:
On 18/04/2010 9:49 AM, hk wrote:

It's best to have available a variety of pensions and pension saving
devices.

Maybe. But always good to keep any eye on them and take them with you.


There are a long list of companies that messed up pensions, Enron,
NorTel, GM, Chrysler, Delco...


That's why I don't worry too much about my union pension. It's a fixed
benefit pension, and to date, there never has been a period when there
have been unfunded liabilities. Further, we through our elected officers
control the fund, not the employers, and our fund officers select our
qpams. The employers do have "represenation" on the fund board, but they
are in the minority.

The fund's contributions are comprised entirely of the money the members
have put into it, and it is portable, so long as the member is working
for a signatory contractor. Now, there have been occasions when a
contractor has failed to forward the funds for the previous week's
contributions, but he is quickly convinced *that* is not a good idea.

This method of operations is fairly typical for building trades unions.
Our predecessors learned early on not to trust management when it is
holding your money.

Then you are one of the very few in that spot. Most either don't have
one or are bamboozeled by companies and even unions. GMers for example.
By luck and not by design I suspect then you are better off.

The most secure penions are government. If the screw up, they just
create more debt onto future taxpayers to pay the bills, in at least up
to this date. Nice inflation indexing too. Like inflation 70's that
screwed many a retired that pensions were not indexed.

But for most, it is a carrot they will never see.
--
Time to ask, is our government serving us or are we serving the government?