The Lucknow Sentinel, 1986-09-17, Page 5Reader sets pension scenario
To the Editor:
Pension Fund. How to steal
Here in Lucknow, we believe in honest
work. We have been taught to respect
people providing jobs. Salt of the earth,
they are. And this is plain truth.,
Through their intelligence, entrepren-
eurs put products on the market. The
product sold, people paid, and taxes looked
after the residue, called profit, is the
natural reward of the entrepreneurs.
Things still work that way in small corn-
• munities,
But suppose a Mr. X... comes to
Lucknow. He needs three hundred people
to fabricate whatsits and thingummy jigs.
Mr. X. is highly educated, He is open to
modernism. He accepts unionism and
agrees to modern wages, vacation pay,
pension, supplementary union benefit,
training fund and any trades proinotion
fund,
If the maximum hourly wage is $15 per
hour, the agreed hourly deductions auto-
matically dwindled the wage to say $10 per
hour on which people have to pay taxes
collected weekly. So far so good. People
are used to being treated that way,. Of
course, N weekly taxes had to be paid once
a year in one swoop, there would be an
instant uprising realizing how much
working people have been had for. But this
is another story...
Let's go back to Mr, X. This Mr. X.,.
having agreed to ate.duct pension money
from his employees (it is called deferred
wages) starts realizing that the working
people of this little village are accuinui-
ating quite a bundle in their pension -fiind.
A dollar per hour in deferred wages is
$40 a week, This brings $2,080, contribu-
tions per year per person to the fund. He
has 300 people working for him. This
means that they accumulate $624.000 per
TO
Lucknow SeirthieI9, WcaResdayg OoDeorakv 11.79 1986-1Piaw5
LUCKNOW
PRESBYTERIAN CHURCH
Worship Service 11:00 ['a.m.
Sunday School 11:00 a.m.
REV. ALLISON J. RAMSAY, MINISTER
Nursery do airs fur
Children under 4
EVERYONE WELCOME
LUCKNOW CHRISTIAN
REFQRMED CHURCH
Invites..Y TLe Worship With Them On
SUNDAY, SEPTXMJJER 21
10 am rnd 7830 pont.NiIMy downstairs morning & evening
EVERYONE WELCOME •
year in their pension fund.
Since Mr. X... is administering the fund
and since this Mr. X... is, by law, matching
his employees' contributions, there are in
fact $1,248,000 in the employees' pension
fund. It is easy for Mr. L.. to consider that
the pension fund of his employees is his
creation. It is human for him to consider
that this fund somewhat belongs to him.
After all, these 300 villagers never had it so
good.
That pernicious idea is changing the
man, In 10 years, the pension fund is
growing out of proportion. Without yearly
cumulative interests, it would represent
$12,480,000 -for the simple minded.
(Bankers will tell you that the fund is in fact
worth close to three times as much).
So, this Mr. X..., after 10 years, knows
that his 300 employees have a bright
retirement in store. .
Lucky for him that only 10 people have
reached retirement age. Lucky for him
that, in 1966, Canadians in their blissful
ignorance, settled for only a quarter of
their weekly wages for pension. Lucky for
him that he, by law," contribilted to the
pension fund of his employees,
Lucky for him that the existing law does
not allow "his" pensioners to deinand
more money from the fund,
In case of troubles engineered by better
educated Canadians (to heck with Grade
11-12 and 13) Mr, X.,. knows that some law
will be on his side,
Harassment from some militants and
. . 011111C
• Kinloss Township Council met for the
regular meeting of Council on September 2
with Reeve Barry Johnston and all council.
members present;
The tender of Robren Equipment
Limited for $135,584.56 was accepted for a
class "6" John Deer grader except that
seven 17.50 x 2$ 12 ply tires with tubes on
14 inch rims be included at the dealer's
additional cost over the tendered tire of 6,
14.00 x 24 12 ply on 10" rims. Tender is
subject to Ministry of Transportation and
Communications approval,
Council accepted the application for a
*Turn to piige 6
ses schooi,
tile dramn. loan for $4,500 for Gerald Doe1.
man
Building permit applications were ac-
cepted for Robert Gilchrist to construct a
hog barn; G. Wm. -Vander Klippe a
partially enclosed leanto addition to an
existing barn and for George McBride to
, .
• extend an existing machinery shed,
General accounts for $13,973.60 and
.road accounts for $13,925 were approved.
By-law 104986 was given three readings
being a by-law authorizing the purchase of
part lot 9, concession 8 from the Bruce
County Board of Education, (Kinloss
Central. Public School),
Housing study for area seniors
• The Village of. Liicknow, and the
Townships of Ashfield, Kinloss and West
Wawanosh, in conjunction with the Minist-
ry of Housing are conducting a survey to
determine the need for market and
rent -geared -to -income rental housing for
senior citizens and families,
The municipalities will conduct a. study
of the area housing situation. This review
will include an assessment of economic
trends, growth factors, and current and
future housing needs,
Additional information will be gathered
through advertising, direct mail question -
aims, interviews and reviewing applica-
tions on file with the Local Housing
Authority.
A self-explanatory questionaire will be
mailed to senior citizens and tenant
families asking them if they are interested
in market or rent -geared -to -income rental
housing. Residents who de. not receive a
questionaire by mail, or who would like
Strategy..
The Man
To See Is
000
FARMS
89.5 ACRES, Ashfield Twp. systematically underdrained, barns for beef, silo
20 x 70, steel implement shed 40 x 70, comfortable home.
100 ACRES recreational, Ashfield Twp., reforested pine hardwood and cedar
bush, Lucknow River crosses property, ideal for summer/winter private use,
church camp or trailer camp.
286 ACRES Turnberry Twp., 180 workable, gravel bottom and systematic
drainage, balance mixed bush, hwy. location. Reduced.
200 ACRES West Wawanosh Twp., 165 workable, maple bush, brick home, barn
feeding bogs, beef cattle, pit, upright silo, Harriston loam soil, Priced to sell.
200 ACRES Culross Twp., immaculate home, extra 100 acres ava0able, beef,
cash crop.
HOBBY, 25 ACRES Lucknow area, 3-4 acres open, balance phie, cedar bush;
10 year old, 3 bedroom home, asking $45,500. Immediate possession.
RIPLEY, AREA, 90 workable, 3 bedroom home, large renovated beef hog barn;
productive loam soil.
WEST WAWANOSH, 200 acres, brick home, beef hog barn, silo.
ASHFIELD, 200 acres, approximately 170 workable, well tiled, balance hard-
wood, cedar bush.
3 BEDROOM brick home, small barn, close to Lake Huron, year round access.
HOUSES.
COUNTRY HOME on 3/4 acres landscaped lot, 3 bedrooms, full bath, air con-
ditioned. This is an, ideal retirement home with room for seperate business,
double garage, spring fed pond.
•
•
AMBERLEY, highway- location, 4 bedroom brick home, immaculate, large
craft workshop, Priced to sell.
THREE BEDROOM home, kitchen, living room, dining room; bath down;
porch recently sided; a good family or starter home. Owner would like to see
an offer, '
LUCKNOW, 4 bedroom home, well maintained, one bedroom (town. Priced
right, immediate possession.
LUCKNOW, desirable building lot, owner has reduced asking price, prime
location?
LUCKNOW DUPLEX located close to 'Stores and post office, both apts. 2
bedrooms, asking $29,000. REDUCED
LUCKNOW, 3 bedroom, with added family room, oil and electric heat, well
•
insulated, full lot. Priced to sell.
WARREN ZINN, 528-3710 ALVIN ROBB, 395-3174
Now thru November 15, 1986
•
.ace
plus
onus Sale!
Newl
Alexis
additional information, may °Wahl forms
and further information from the Clerk of
your municipality, Call Lucknow 528-3539;
Ashfield 395-2753; Kinloss 395-3575 or '
West Wawanosh 528-2903,
A meeting will be held on September 22,
1986 at 2:00 p.in. in North wing of the
Legion to provide further information . •
about the proposed project and answer any
questions about the survey.
*from peso 2
recommendations. .
Huron County's planning director, Gary
Davidson, said his department "will be go.
ing over the report with council's planning
and development committee leading to
recommendations which wilt be presented
to Moen,"
' • •
Chlorin' ittion...
Buy a 5 -piece place setting
on sale — receive.a bonus
dinner fork NO CHARGE!
• Introdueing ALEXIS in "
•• ONEIDA DELUXE STAINLESS
whoouOTORY 18 99 I AFTER $29 75
PRICE 'r SALE
11
1$01.0 ROGERS 0° SIWORPLATE
• by ONEIDAB
SALE $25.99/r0g. $40.95
BONUS ALSO AVAILABLE IN
Mese PAMOLI$ ONEIOA SAWS
ONEIDAt HEIRLOOM` STAINLESS
SALE $37t99/teg. $OU*
*from Pagel
inspect the holes at the standpipe, and
possibly commence, with repairing them.
In other business, a bylaw was passed to
transfer ownership of the land at the water-
works property at the east edge of the
village to the Maitland Valley Conservation
Authority. The land was deeded for the
price of $1.
A letter from Steve Burns, an Engineer
with B.M. Ross and Associates of God-
erich, stated the testing at the Brooks
property, a proposed site for the new
sewage works plant far the village, are now
completed. Mr. Burns says the company is
now compiling information which wilt show
if the site is suitable for the rapid
infiltration system of sewage disposal
under investigation for the village.
• mew DELUXE' STAINLESS
SALE $111149429.76
- *Mmiloarii et Nola Canwli. Wood
Agnew Jewellery & Gifts
LUCKNOW Ev
(wet SIX DAYS A WOE
3040 6284632