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www.insideHALTON.com | OAKVILLE BEAVER | Thursday, July 7, 2016 | 20 When you retire, miss work more than the paycheque. Marc Nutford - Financial Advisor 2387 Trafalgar Road, Unit E2, Oakville, ON L6H 6K7 905-844-4043 · www.edwardjones.com/marc-nutford New plan will increase salary ceiling to $82,700 continued from p.19 The signi cance of the proposed CPP is its impact on retirement funding. The current CPP has an objective to replace 25 per cent of your earnings to a maximum salary of $54,900. The new plan will increase the salary ceiling to $82,700 with the objective to provide funding equal to one third of a workers salary level. In summary, retirees will receive a higher per cent of their previous earnings to a new higher salary limit. Many Ontario residents will receive more CPP payments during retirement. There is both good and bad with the announcement of pension reform. We agree pension payments from CPP should be increased and for that we congratulate the respective governments for this accomplishment. The suggestion that Ontario will drop its own pension plan idea is also good news. The bad news is the reform conversation did not include the bigger issue. The Canadian pension problem is based on us having a two-tier system of the "have and have-nots." Most government workers have an extremely generous pension. Most non-government workers do not. Unions have asked our government to pay large pensions to retired government workers and our government has agreed. My question to our federal government is, if it is a good idea to pay large pensions to government retirees, why not share that idea with retirees that had worked in the private sector? CPP reform is a step in the right direction. What we need now is a national conversation about the fairness of retirement income paid to retired government and private sector employees. -- Submitted by Peter Watson of Peter Watson Investments and Aligned Capital Partners Inc., MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner $700 OFF HI-EFFICIENCY CENTRAL AIR $ AIRE ONE MADNEss sAlE! /mTH OAC* 29 IN I.E.S.O. REbATE* $400 up TO Starting from NOW $ Was *Call for details 1990 A+ RATING $ 2690 Up to 6 months no payments, no interest. o.a.C.* * HI-EffICIENCy AIR CONDITIONERS · 10 Year Factory Warranty CALL NOW, QUANTITIES ARE LIMITED! 9 Locations to serve you better Heating & Cooling www.aireone.com 905-849-4998 1-888-827-2665 Follow Oakville Beaver staff on Twitter: @OakvilleBeaver, @NewsHooked, @DavidLea6, @JuliaLeReporter, @HerbGarbutt, @PostBeaverSport and @Halton_Photog FREE RING BRAMALEA CITY CENTRE 905.792.8820 JULY 7­17 WITH PURCHASE OF ANY TWO PANDORA RINGS (FREE RING MUST BE OF EQUAL OR LESSER VALUE) T H E PA N D O R A S T O R E AT SQUARE ONE SHOPPING CENTRE 905.232.0661 MAPLEVIEW CENTRE 905.632.5400 ERIN MILLS TOWN CENTRE 905.828.5902 *While supplies last at participating retailers. No substitutions. Ring selection may vary by store. Excludes gift card purchases.