So you think you have money in a secure government pension- Huh and eh! Read the fine details first!
This is a letter to the Minister from a fellow blogger. Am interested in how to fix this travesty - lets shine the light on more issues to help our "trusted and paid public resources to work for us the public -for a refreshing change" Sieg
January 26, 2005
Honourable Greg Sorberra
Minister of Finance
7th Floor Frost Bldg. South
7 Queen's Park Crescent
Toronto, Ontario, M7A 1Y7
Dear Minister Sorberra,
Thank you for your letter of January 13, 2005, concerning the FSCO and locked in retirement savings plans. The information would have been quite useful but I was forced to sell my home because of my inability to keep up with the payments and the sale closes on January 28th. I have purchased a small cottage in Port Rowan Ontario and I will retain the information for the time when I am unable to pay the property taxes and am in danger of losing that property as well.
I believe that Mr. Barrett told you in his letter that I was turning to Ontario Works to support myself. They seem to be finding excuse after excuse to deny me any kind of assistance. I have to wait until I am virtually bankrupt and homeless, or on illegal drugs in order to get help. I don't mean to sound bitter but I guess my mind is wandering back to happier times when debtors prisons provided basic shelter and a daily bowl of gruel for sustenance of the indigent.
I am finding this time of my life very frustrating. I am 55 years old and, had I left my retirement savings in OMERS, I would be drawing a pension now instead of begging the FSCO for access to my own money. Doubly frustrating is that every time I apply, they dip into my retirement savings for an administration fee so they can tell me that I can have $13,000 to support myself for the coming year. Less income tax, of course. We mustn't forget that must we.
Just as a matter of background, I am an electrical engineer who was a senior manager in government and utilities for twenty years. I have run companies and am skilled in electrical power, alternative energy issues, drinking water, and wastewater matters. I have been unemployed since September 2003 and it is humiliating that I can't even get a job pouring coffee at a Tim Horton’s. Despite the fact that Stats Canada lists the government in Ontario and Quebec as the sector with the most job growth in Canada, my familial connections don’t seem to be quite right to gain me employment at either the provincial or federal level. This is why my retirement savings would be so handy at the moment. But, I guess that I have to be punished for removing the funds from OMERS to try to maximize the return on investment, so I shouldn’t complain.
Again, Minister Sorberra, I appreciate all your efforts on my behalf and I will retain the information you sent for future reference.
Yours truly, Our man, P. Eng.
Cc: Honourable Toby Barrett
“Right Honourable” Dalton McGuinty
Honourable Dave Levac Party Whip (?)