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HomeMy WebLinkAboutTimes-Advocate, 1980-08-20, Page 51/2 PRICE on CUT AND STYLE for all students 14 and under Aug. 20-30 B firr SCHOOL SPECIAL • ti Two locations to serve you: Designer's Unisex Hairstyling 10 Main St., Grand Bend 238-2412 Designer's Phase II 180 King St., Hensall 262-2402 We'll Do the lob Right... -1111111Wit We've Moved Our Office we are now located at our Exeter shop Whatever the project, call on us for Ready-Mix Concrete • RESIDENTIAL • COMMERCIAL • FARM (Including Manure Tanks) FREE ESTIMAT E S C. A. McDOWELL LTD. EXETER, ONTARIO Plant: 235-0833 Office: 235-1969 1:121 III 11 1 1111 111111111 111111 I I I 1 II III III 11 1 1 SALE ENDS SATURDAY NOT ALL SIZES IN ALL GROUPS =_ ALL SALES FINAL =- !SMYTH'S SHOE STORE f \------- 4HHHHHHOHHHHIMIIHHUHUHUHUM1111 llllll HUHUMMHOUHHUHHUMUMUUHUHUMIHHHIIIIIMUMIUnnlinflUll • CHARGEX MAIN ST. EXETER 235-1933 Plenty Of Free Parking Behind Our Store. 355 MAIN STREET, PHONE 235-1990 FURNITURE LTD. CHAHGLC 11.11111111 VISA =1 Timis,Achrocuto,. August 20, 1980. Paws 5 Pension funds. wove ,controversial PLOWING QUEENS — Clare Paton, of the Middlesex Plowmen's Association helps Ontario Queen Peggy Kniesz and Middlesex Plow Queen Carolyn Adams on to the float at Satur- day's Lucan Fair parade. The float was publicizing the 1982 International Plowing Match to be held in Lucan. T-A photo Plan classes for breathing in Stratford The fall breathing classes will begin September 15, at the Conestoga Regional Nursing School, Youngs St., Stratford. Children and adults may be registered on the above date at 7 p.m. and 8 p.m. respectively. Mrs. Janice Parsons and an assistant will be in charge. Al special en- vironmental speaker will also be on hand to do some interesting tests. If you have any breathing problems contact your doctor for consent to attend. Special breathing exer- cises have proven beneficial for many persons. It will be to your advantage to be present. Classes for adults will also begin Thursday evenings September 18 tentatively at 7:30 p.m. at Vanastra. Mrs. Carol Bowker will conduct the classes in this area. The Huron Perth Lung Association is the sponsor of these programmes. RY JACK RIDDELL MPP Huron-Middlesex No doubt you have been aware of the controversial question of pension funds, There is a great deal of concern about the best manner in which to prepare for the enormous burden which will be placed upon these funds in the early part of the 21st Century. recent article on this subject pointed out that by the year 2031 - projected as the peak year for the number of elderly in society something like 67 percent of the population will be over 65 years of age (33.7 percent) or under 18 (33.3 percent). Comparisons have 'been made between these projected figures and those for 1961 (at the height of the so-called baby boom), when 87 percent of the population Was under 18 (72.8 percent) or over 65 years of age (14.3 percent). This represented a much higher , dependent population than at any time in the next fifty years. At the present time, the dependent'group (those over 65 or under 18 years of age) represents some 61 percent of the population, with 46 percent young people and some 15' percent senior citizens. Some people may try to argue that everything will even out, because it will simply be a question of substituting the care of the elderly for the care of young people. What cannot be overlooked, of course, is the fact that the costs of raising children are, for the most part, borne by the parents of the children themselves. On the other hand, the highest proportion of the expenses of helping to support elderly people is paid for through taxes or levies raised by governments. It should also be remembered that the burden of caring for young people in the year 2031 will not be noticeably lighter for those in the work force (1 child per worker is projected com- pared with 1.2 in 1980). On the other hand, the number of dependent elderly will have more than doubled (from 0.45, per worker to 1).. Moreover, the unfortunate truth is that the hoped for savings: in education costs, are not occurring, despite declining enrolment, Againg the background of these facts, we have to consider the question of the responsibility of future working age populations for those drawing pensions, Obviously, we need to give some very serious con- sideration to the need to direct sufficient wealth into, savings and productive. investment in order to cover the demands which will be made upon pension plans in the futnre. One of the problems in this connection is that, because the whole question of pension funding is somewhat com- plicated, it is difficult to make it a focus of great public attention. Over the last three years or more, my colleague David Peterson (Liberal Member for London Centre) has been trying, as one reporter phrased it, to convince the public that "we're hell-bent in our own complacency for economic disaster if we don't start paying attention to what governments have and haven't- been doing with the billions pumped into the universal and special-sector pension plans. And he has been arguing for at least three years now that many of the private funds are in just as much of a mess." What he has been saying is, in effect, that there is likely to be a collision bet- ween demographics and economic realities which could leave a lot of people in their late 30's or early 40's wondering what happened to all that security they thought they were buying in pension packages, during their working years. To put the question in fairly simple terms, twenty years from now in the year 2000, there will be 50 percent more Canadians over 65 demanding their pensions. On the other hand, there will be fewer people paying "the bill" or contributing to pension funds or con- tributing to taxation revenues. At the present time, there is a debt of something like $14-billion against the pension plans, with interest being paid at about a per- centage point less than the market rate. Ontario or instance .borrows more than 90 percent of its money from public pension plans, mainly the Canadian Pension Plan, Blame; for the low interest rates •paid to the plans cannot be entirely attributed to the province, The federal Government and the provinces set the rate when the original conditions were negotiated for the Canadian Pension Plan, and the in- terest rate is based on the long-term federal bond rate, CHILDREN'S SHOES Factory Im perfects $999 and $ 1 1 " Mens DRESS SHOES ▪ 'SALE 9 499 s---_ SALE 2 499 which has. historically been lower than the provincial rate, According to. Samuel Rea, an .economics professor at the University of Toronto, who was co-author of a hook on Canada pension plans, that rate has varied from just below market rate to, 1,65 percentage points less. He maintains it is "an ar- tificial rate paid to pension plans and it is inherently a subsidy to the provinces in the form of lower interest rates." Provincial Treasurer Frank Miller claims that at LUGGAGE SPECIALS • Discontinued lines Some Sets While Stock Lasts 10% OFF REGULAR IN STOCK MERCHANDISE the time the deal was struck on pension plan interest rates, that rate seemed fair. "We are getting money at a lower rate... (but) we are preferred borrower, He has stated that the Government won't hurt future generations because its policy is to balance the budget within four years. Womens' CASUAL TIES SALE $6" SALE =- 12" SIDEWALK SPECIALS WOMENS 99t 11 11 11 11 11 1 11 1 11 1 1 1 11 11 1 1 1 1 1 1 1 11 11 11 11 1 1 1 11 1 11 1 1 11 11 1 1 1 1 11 1 1 1 11 1 1 11 1 irluomas ORGANS are now available at years to the staff. George is well-known in the area and welcomes everyone to come in and view the beautiful new organs in stock. He'll be happy to demonstrate the many features of Thomas Organs which make owning one a pleasure. Irvine Armstrong, Bob Fletcher and Gord Ross of Hopper- Hockey Furniture Ltd. are pleased to announce their store has acquired the Thomas Organs franchise. They welcome George Jeater, the previous Thomas Organ store owner for the past four THE MOST EXCITING THOMAS FEATURE EVER! The new Thomas Harmonizer adds real pro- fessionalism to your music. You can play full chords, theatre style, duets, and counter melodies on the upper keyboard, all with one finger! Use the four tabs in combinations and eight separate modes of harmony are possible. Vary your playing technique and the sounds and effects are virtually unlimited. COLOR-G1.0 LIGHTS THE WAY Thomas' exclusive Color-Glo makes It possible for even a beginner to play many songs without lessons, Touch a button and the keys light up to identify the basic left hand chords and the right hand solo notes. Then simply match the keys to Color-Gio music books and you're playing your own music instantly.