Government must manage pension money responsibly

The reason the Canadian Pension Plan is in trouble is they chose to put taxpayers’ payments into general revenue and spend it.

To the Editor,

Re: Pension plan needs overhaul, Editorial, Dec. 26.

If memory serves, the reason the Canadian Pension Plan and most of the other pension plans in Canada are in trouble is that, rather than the government(s) putting the pension plan payments into an investment fund, they chose to put taxpayers’ payments into general revenue and spend it. I believe that went on for decades but I think they finally did start investing the funds. Please have your staff investigate that. Because if they revise the fund but once again start grabbing it, we’ll all be even poorer and, as happens so often when the government gets involved, with nothing to show for it once again.

Gail Radford-RossNanaimo