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! 14 The Independent, Canadian Statesman Weekender, Bowmanville, Saturday, February 12,1994 Is jS I|w ' 'i '■ ^ New Member Appointed To the Siting Task Force The Honourable A. Anne Bell Northern Research for five years McLellan, Minister of • Natural as well as Chairman of the Board of Resources Canada (NRCan), an- its U.S. subsidiary, nounced today the appointment of Minister McLellan noted, "Dr. Charles Denis Hall, President of the Hall's contributions will assist the Toronto-based Tech Team Manage- Task Force in producing consensus at ment Inc., as a member of the Siting both ends of the spectrum: corporate Task Force, Low-level Radioactive Waste (LLRW) Management. Dr. Hall, who holds degrees in science science and engineering, is a management management consultant specializing in R & D, technical and financial strategic issues. issues. Dr. Hall was also President of strategy and detailed design decisions." decisions." The Task Force is at present conducting conducting a complex program of site, technology and environmental assessment, assessment, incorporated into Phase 4 of the Co-operative Siting Process. Dr. Hall will be working with the other four Task Force members - Dennis Wood (Chair), Glenn Curtis, John Hubicki and Dr. Anne Mildon. Together, they are implementing a consultative and voluntary process designed to site, with public acceptance, acceptance, a long-term management facility facility for Canada's historic LLRW, now located at temporary storage sites at Port Granby (Clarington), Welcome (Hope Township), Port Hope, and Scarborough. The RRSP That Suits You Rick Potter, above, a renovator from Port Hope, will be busy sprucing up the interior of the Bowmanville Museum for the next five or six weeks. Although the 19th century museum building is in excellent condition, Potter says the plaster and woodwork in the foyer, foyer, hallway and staircase need some attention. Renovations will be topped off with new wallpaper. Provincial Health Care System Rated One of The Best in the World Many investors recognize the immediate immediate tax benefits of contributing regularly to their RRSP. However, they often give less thought to how their RRSP is growing. With a little - knowledge, you can help to make a big difference to the amount of cash, you accumulate in your plan - and to ' the quality of your retirement lifestyle. lifestyle. In fact, just an increase by a single percentage point in the average rate of return on your RRSP investments could increase your retirement income income quite significantly. And that could apply for a lot of nice extras • when your retire. Improving RRSP Performance So how do you help increase the average, rate of return, of your RRSP investment? Start by looking at the investments 1 you now hold inside your'RRSP. Like many people, you may select the same types of RRSP investments ever year - without considering considering all the options available to ' you. For example, your RRSP portfolio may consist almost entirely of one- year investment certificates. A good choice? Certainly these provide a high level of security and a respectable respectable interest-rate return. But you could probably do better. One way is to diversify your holdings holdings to include certificates with a wide range of maturity dates - say, from six months to five years. Then, if interest rates decline in the future, your longer term certificates are locked into a higher rate. But if rates go up, your shorter term certificates will probably mature, quickly enough so that you'll still be able to capitalize on the higher rate. Mutual Funds As An •RRSP Option History shows us that, at any given given time, some investments will do better than others. In the mideighties, mideighties, fixed term investment certificates certificates performed better- than some of the mutual fund RRSP options. Yet in the past few yeas, the opposite was true. ; And that's why it may make sense for you to consider, including mutual funds in your RRSP plan. • : But with so many types of mutual funds available for your RRSP, how do you choose among them? Often the choice comes down to how much risk you are prepared to tolerate and how close you are to your retirement. Weighing Risk Against Return If you are several years away from retirement, you may want to assume some risk in order to attempt to realize realize longer term growth. In this case, you could consider investing some of your RRSP dollars in an equity based mutual fund. Or, you may be closer to retirement retirement and concerned with having a secure secure income. Under these circumstances, circumstances, you may want to invest in a fund with security, such as a mortgage mortgage or bond fund. And if you're an experienced investor investor with a larger portfolio, a self- directed RRSP can provide you with the widest possible selection of investment investment options, including interest bearing certificates, investment funds, plus a wide variety of publicly traded Canadian stocks and bonds. You can even invést in your own mortgage! So take a look at your RRSP portfolio. portfolio. See if you're taking full advantage advantage of all the investment options available to you. Chances are you'll find that, by increasing the diversification diversification of the investment in your , RRSP, your prospects for a richer retirement retirement may also increase. Courtesy of John Jones Manager, Bank of Montreal Bowmanville. Ontario's health care system is touted as one of the best in the world. It is also one of the most expensive in the world, costing about 18 billion dollars a year. Some people are now saying it is time to end our system of free medical medical care, because is it simply too expensive expensive for the government to maintain. maintain. Others object to the. idea of paying for medical care, saying it ought to be free to all, not a two-tier system that favours the rich. . Unfortunately, this entire debate seems to tie based on three myths... Myth #1, that the health care system system is free. It is not. The 18 billion dollars the government will spend' this year on health care comes from you and me, from the tax money that we sent to Queen's Park. Individuals and businesses pay heavily for access to health care, whether they use the system or not. Myth #2, that the health care system system is universal. It is not. There are many health services that are not covered covered by OHIP, or that require user fees (labelled "co-payments" or "consumer "consumer fees".) For example, anyone using an ambulance has to pay for it. In an emergency the "co-payment" is more than $40. In a non-emergency situation, you will tic charged closer to $200. Some user fees, like the daily charges for nursing home occupants, arc based oh income. Others arc straight fees, paid by everyone regardless regardless of their financial situation. As well, there is a growing list of services that are simply no longer available, as the provincial government government attempts to control costs by reducing reducing funding. Myth #3, that the health care system system provides equal treatment for all. It does not. There are long waiting lists for many specialized services, including several kinds of surgery, therapy, and counselling, and many tests requiring sophisticated medical equipment; For the average Ontarian, there is no alternative but to wait for these services. For those who have enough money, those services are available immediately in the United States or other countries. The bottom line is that there is one level of care for the rich, and another for everyone else. In other words, we already have a two-tiered system of health care, we already have user fees, and we already already have one of the most expensive health care systems in the world. I believe it's time for politicians and vested interests to stop kidding us about the existence of a free, universal, universal, and equitable health care system. system. It does not exist in Ontario. I think we can have a system that provides for everyone's needs, and a total bill of a lot less than 17 billion dollars. Once we dispense with those sacred cows, maybe we can start an effort, based on the real situation, to improve the system and make it truly fair, affordable and efficient. Reason #9 for not planning your retirement 66 I KIN DA PLANNED ON WINNING THE LOTTERY. 55 Do you have a reason? We'd love to hear it. Plus, you can pick up a free RRSP Planning Guide. John A. Jones, Branch Manager Bank of Montreal 2 King Street West Bowmanville (905) 623-4466 ■Û Bank of Montreal We're Paying Attention