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ihethibune thursday november is mic why should you pay one nickel tohelp civil servants haveamuch wmm n i l ii n 1 c how much are you paying so that a civil servant can have a better pension than you read this ad this is a civil servant hell retire at 55 thebuyingpowerofhis pension will stay rock solid year after year after year youpayforhispension just why are the federal civil servants getting a better pension deal than you canadians are awfully nice to their civil servants the average canadian worker sometimes has to worry about keeping his job or being laid off the average federal civil servant doesnt canadians are awfully nice to their civil servants the average canadian worker has a private pension plan that will let him retire at 65 with a pension this pension is not pegged to the cost of living the average federal civil servant can retire at 55 with a pension that is pegged to the cost of living its fully indexed if the cost of living goes up 12 percent the pension goes up 12 percent canadians are awfully nice to their civil servants jo see how nice we are takea peek at the chart below it shows you what happens to each100 worth of pension when theres an inflation rate of five percent seven percent or nine percent these rates of inflation are not unusual in canada v j year your federal civil servants pension 1 special pension at 5 at 7 at 9 s 1 s100 100 sioo s100 2 s100 105 s107 109 3 s100 s110 s114 119 4 100 115 s122 130 5 s100 s121 s131 141 6 s100 127 140 154 100 134 s150 168 8 100 s140 160 183 9 100 147 s171 199 10 100 155 s183 217 11 s100 162 196 237 12 s100 s171 210 258 13 s100 179 s225 281 14 s100 188 240 307 15 100 s197 s257 334 v 100 207 s275 364 17 100 218 295 397 18 100 229 315 433 19 100 240 337 s472 20 100 252 361 s514 i at year one of your retirement both you and the civil servant wil be able to afford pork chops for dinner by year ten youll be eating macaroni and hell still be eating pork chops by year fifteen j canadians are awfully nice to their civil servants fully indexed pensions at 55 sound like a swelll idea why dont we all get one s dont hold your breath r well get them about the same date as your mail starts t arriving when its supposed to when taxes stop going up faster than wages and when the sahara freezes over v actuaries say that if everybody has a pension plan like the civil servants have contributions would have to go up at least 400 percent canadas workers selfemployed and most private companies simply cannot and never will be able to afford fully indexed pensions at the present rate of inflation but canadians are awfully nice to their civil servants read the stories below read and weep this is a true story s a 33 year old man quit the civil service it happens sometimes people get bored he had worked for the federal government for 8v2 years he had7000 in his pension fund that was how much he could withdraw however hedecided to leave it in because this was an indexed plan if he left that 7000 in until he was 60 and inflation i was 5 thegovernment would pahim 10700 the first year he retired thats without his putting in one extra nickel by age 75 hed be getting 21 1 85etc in 1 5 years of retirement he will collect 230891 from an investmentpf 7000 based on just 5 percent indexing which goes to explain why we all cant have indexed pensions and just how awfully nicely we treat our civil servants another true story a deputy minister resigned from the federal government at age 55 he had been making about 55000 the pension he received the first year was about 30000 when hes 75 at just 5 percent indexing hell be getting over 75000 a year at 7 percent indexing at 75 hellbe getting over 100000 a year although he retired from the government at 55 hes gone into a consulting business hell probably work for the next ten years even though hes getting well above 30000 a year from the government already and hell probably tuck some of what i he earns tax free into a private pension plan it wont pay as well as the federal governments but shucks yesbut we civil servants are paying 1 extra to look after the cost of indexed pensions fiddlefaddle v this 1 only pays a small fractionof the cost of inflation actuaries say that the cost of a pension pfan like the indexed one the civil servants have is at least 4 times more than the cost of normal plans as you know we are currently running at an annual inflation rate of around 7 andjeading economists are expecting a much higher rate of inflation when a i b restrictions are removed we think that every nickel that is spent towards the cost of indexing their pension should be paid by the civil servant and not by you the treasury board can fiddle with the figures from now until doomsday and we suspect they will but thats true period end of argument now for the bad news s the federal government says that it matches the civil servants contributions but actually the federal government really doesnt put in the money nope all that happens is that a clerk- in some musty office puts a little note in a ledger that says that sometime somehow the federal government should get around to putting up some actual real money the real money hasnt been put up yet all that really exists is an io u ask the auditorgeneral which leaves us with the question of what happens when the iqus come due will the federal government solve the problem with its traditional solution by printing more money probably and that will lead to more inflation- it always has which means that the cost of jiving will go up which means that the civil service pensions will go up which means there will be even more ious which means that got it yes but inflation isnt always going to be this bad hot dingle the federal government now has such an investment in inflation that it cant afford for it to be less they need an everexpanding money supply theyd stub their toe if they got off the carousel over the past five years inflation has run at an average of 835 percent per annum over the next five it just is not going to run a huge amount lower than that our figures are conservative weve indexed at just five percent well be lucky if inflation is less than that check with an economist check with your bank check with nobel prizewinner milton freidman or former auditorgeneral maxwell henderson- the man you voted for has a conflict of interest its tough for the member of parliament you voted for to speak up against the special civil service pension plan because at the same time he voted for the civil service to have this plan he voted to give one to himself 3 members of parliament have indexed pensions yup that nice gentleman who told you to tighten your belt voted himself very quietly an indexed pensjon you cant afford he probably told you he was going to cut government spending didnt he he probably said there was a need for restraint he probably also told you youd get your mail on time either you do something how or youre going to end up paying for indexing a civil servants pension for the rest of your life to the point where the indexed portion is larger than the basic pension and youre going to pay a bundle you have to kick up a fuss and its got to be a huge fuss or your friendly member of parliament isnt going to listen you have to tell him that either he can keep his job or start taking his pension you have to tell him that you don t want to pay a nickel for a civil servants special indexed pension plan either the civil servant should pay the extra cost or he shouldnt have the pension the best way to tell your m p is to write us in politics numbers count were already holding some 14000 names of people protesting against the civil servants specially indexed plan we got those names by sending out a letter to our own membership f now we need a lot more names yours is one of the ones we need heres what you can do you can send us one of the coupons ononis page and you can have a friend send in one and have somebody else send in a x third we dont even need the coupon if you drop us a note we will forward all coupons and letters to the prime minister and will have an accurate count of names for the press it wouldnt hurt if you could write your mp at the same time telling him that you have been in touch with us but dont wait around do it right now promise yourself otherwise youll be stuck paying for a civil servant to get a pension that is more than you can afford so will your kids otherwise youll be saying that a civil servant is some special breed of person who should get more than the rest of us dont wait around- what is the national citizens coalition the national citizens coalition is a nonprofit national group that gets mad about npoffs like the civil service pensions were nonpartisan all political parties dislike us when we get mad we do ads like this were the people who caused most of the fuss about m ps getting that huge salary increase partially because of our efforts they lowered their salary demands weve been in operation for 3 years we have 24000 members from across the country most of them are pretty average canadians the cost of this ad is just under 20000 if you believe in what we are doing help by sending a donation we need money especially now this particular fight is probably going to be a long one and with your support we can keep it going of course you dont have to send in a dime to send in your coupon despite our need for money to do these ads wed rather have the coupon or your letter which is why we keep telling you to send either one right now i national citizens coalition 74 victoria street suite 902 toronto ontano m5c2a5 14168693838 a tedera non orolit corporation l put this ad up on a bulletin board or keep it for five years to see exactly how right we are vtfriimj t v f f i iff j f j kaak f1 v v f