Comparison of Pensions from Germany, Britain, The Netherlands, Italy, Switzerland and Poland

In Canada we have a fairly good pensions system, so today I want to take a look at the work done by  Prof. Dr. Barbara Riedmüller - Freie Universität Berlin - Otto-Suhr-Institut für Politikwissenschaft - FB Politik- und Sozialwiss and her comparison of pensions in a number of European countries, so we as North Americans can see what European countries are doing to help seniors.

Complaint received and ignored

THESE ARE ACTUAL COMPLAINTS RECEIVED BY "THOMAS COOK VACATIONS" FROM DISSATISFIED CUSTOMERS:

1. "They should not allow topless sunbathing on the beach. It was very distracting for my husband who just wanted to relax."

2. "On my holiday to Goa in India, I was disgusted to find that almost every restaurant served curry. I don't like spicy food."

3. "We went on holiday to Spain and had a problem with the taxi drivers as they were all Spanish."

4. "We booked an excursion to a water park but no-one told us we had to bring our own swimsuits and towels. We assumed it would be included in the price."

5. "The beach was too sandy. We had to clean everything when we returned to our room."

6. "We found the sand was not like the sand in the brochure. Your brochure shows the sand as white but it was more yellow."

7. "It's lazy of the local shopkeepers in Puerto Vallartato close in the afternoons. I often needed to buy things during 'siesta' time -- this should be banned."

8. "No-one told us there would be fish in the water. The children were scared."

9. "Although the brochure said that there was a fully equipped kitchen, there was no egg-slicer in the drawers."

10. "I think it should be explained in the brochure that the local convenience store does not sell proper biscuits like custard creams or ginger nuts."

11. "The roads were uneven and bumpy, so we could not read the local guide book during the bus ride to the resort. Because of this, we were unaware of many things that would have made our holiday more fun."

12. "It took us nine hours to fly home from Jamaica to England. It took the Americans only three hours to get home. This seems unfair."

13. "I compared the size of our one-bedroom suite to our friends' three-bedroom and ours was significantly smaller."

14. "The brochure stated: 'No hairdressers at the resort.' We're trainee hairdressers and we think they knew and made us wait longer for service."

15. "When we were in Spain, there were too many Spanish people there. The receptionist spoke Spanish, the food was Spanish. No one told us that there would be so many foreigners."

16. "We had to line up outside to catch the boat and there was no air-conditioning."

17. "It is your duty as a tour operator to advise us of noisy or unruly guests before we travel."

18. "I was bitten by a mosquito. The brochure did not mention mosquitoes."

19. "My fiancée and I requested twin-beds when we booked, but instead we were placed in a room with a king bed. We now hold you responsible and want to be re-reimbursed for the fact that I became pregnant. This would not have happened if you had put us in the room that we booked."

Housing options for seniors in BC

Information on the state of senior care in my home Province from the Senior Advocate Report (PDF File)

Half of B.C. seniors live on $24,000 per year or less and more than 50,000 seniors are living on $20,000 or less. These are incomes that will not rise and many costs related to declining health care are not covered for many of our lowest-income seniors. 

Some seniors are making ends meet by either living in substandard housing or by foregoing other basic needs and no one wants to see this happen to our seniors in their final years.

Many seniors accept that, as they age, changes to their health and mobility may necessitate a move to  housing that incorporates a support or care component. However, many feel frustrated that their housing options are limited by the availability of appropriate housing in their communities and by the policies, practices and regulations currently in place that determine eligibility for particular types of housing. 

They fear they will be forced into assisted living or residential care prematurely, or need to move to faraway communities where there is no support system of friends and family.

A snapshot of how B.C. seniors are living shows that: 

• 93% live independently in houses/town-houses/apartments/condominiums 

• 80% are home-owners, of which 22% carry a mortgage 

• 20% are renters, with 20% receiving some rent subsidy 

• 26% live alone 

• 4% live independently but receive provincially subsidized home care services 

• 3% live in assisted living, with 20% receiving a subsidy 

• 4% live in residential care, with 95% receiving a subsidy 

The financial circumstances of B.C. seniors show that: 

• The median income for seniors is $24,000 

• 35% of seniors who rent live on a household income of $20,000 or less 

• Average rents for a one-bedroom apartment vary from a high of $1,038 in Vancouver to a low of $547 in Quesnel 

• While the average house price varies greatly in the province, the average annual costs of home-ownership net of any mortgage payments is about the same regardless of where a senior lives, averaging around $1,000 per month 

• 36% of seniors with household incomes less than $30,000 believe they will need to move in the future due to affordability

Independent housing options for seniors include both home ownership and rental situations. Independent housing is a choice that is appropriate for most seniors if it is affordable, if there is housing available that can provide accessibility to services and supports, and if it allows for design features to make the environment safe and accessible. 

There are data to support that, if seniors choose to, they can be cared for in their own home to very high care levels. 

Assisted living in British Columbia takes various forms: publicly-subsidized Registered Assisted Living, private-pay Registered Assisted Living, and private-market assisted living Residences. Assisted living is a housing choice for many seniors who wish to live in a community with others and have hospitality services like cooking and cleaning provided by the facility. It is also appropriate housing for seniors who require care but have a level of cognitive function that allows them to engage with the community of seniors they live with while maintaining their independence.

The data also clearly indicate there are other seniors for whom subsidized Registered Assisted Living would be appropriate, but they are not eligible for this type of housing and care as a result of the current regulations. 

These seniors would appear to instead go prematurely to residential care. The affordability of subsidized assisted living appears to be adequately regulated by the current rate structure whereby seniors pay 70% of their net income, with a Temporary Rate Reduction available to those who need it. For seniors with very low incomes, however, these fees can leave very little disposable income for costs not covered by the fees. The availability of assisted living overall appears to be sufficient given there is an estimated 10% vacancy rate. 

However, the availability in smaller, more remote communities may be a challenge. In general, the availability of subsidized assisted living is difficult to assess as there is no standardized method used for tracking vacancies either within or between health authorities.

Residential Care sometimes called long-term care, facility care or a nursing home, residential care provides 24-hour professional supervision and care in a protective, secure environment for people who have complex care needs and can no longer be cared for in their own homes or in assisted living settings. Seniors with Alzheimer’s or other forms of dementia, those with significant physical incapacity, and those who require unscheduled and frequent higher level nursing care are all suited to live in residential care

The availability of residential care varies throughout the province. Waiting times for placement are greater in the north than in the Lower Mainland and waiting times are greatest for those who require highly specialized care such as a secure dementia unit. 

While it is difficult to assess accurately the sufficiency of beds overall, there is definitely a lack of availability of the bed of choice, or ‘preferred bed’. 

The affordability of residential care is assured by charging residents a percentage of their net income and by the availability of a Temporary Rate Reduction (TRR) in the case of undue financial hardship. However, awareness of the TRR and uniform application are lacking. 

For all of the recommendations go here

Funny, sad and maybe true

“Sugar why don’t you sit down by the table and we’ll start supper.” Said Dorothy to her Husband of 50 years.

“Sure thing,” said her husband settling himself down. 

“Now darling, would you like the soup first or the salad?” Questioned Dorothy. 

“Umm I guess I’ll take the soup.” He responded. 

After a whole meal of one endearing term after another, their guest Bob couldn't contain his curiosity any longer. 

Bob snuck into the kitchen and asked, “Dorothy do you always talk to your husband like that?” 

“Bob, I’ll be honest with you,” Dorothy replied. “It’s been five years now, I just can’t remember his name, and I am just too embarrassed to ask him!”

National Strategy for Financial Literacy – Count me in, Canada

The report on financial literacy has some goals and its own definition of success. So what are the goals and how will the government measure success. According to the report, this is what they will do, only time will tell if they are successful.

We welcome initiatives that address the strategy’s goals. Governments, private sector and non-profit organizations, as well as the financial services sector, should all consider how they can intensify efforts to contribute in the following ways:

Initiatives by goal
1. Manage money and debt wisely
Provide free and objective resources to help Canadians budget and manage finances.
Incorporate effective money management resources and training in programs and services offered to Canadians.
2. Plan and save for the future
Provide free and objective information about financial products and services to help Canadians better plan and save.
Develop innovative ways to inform and engage Canadians about savings vehicles and how to plan for their financial future.
Make it easier for people to find out if they are eligible for government benefits and, if so, how to access them to help people plan and save.
3. Prevent and protect against fraud and financial abuse
Share tools and resources that engage various groups of Canadians to learn about the risks of fraud and financial abuse and how to minimize them.
Identify areas of vulnerability for financial abuse and proactively share existing tools and resources. We will seek innovative ways to reach more Canadians with these materials.

Encourage Canadians to seek help if they feel they are victims of fraud. FCAC has information on its website related to fraud and what to do if you’re a victim. Leverage Fraud Prevention Month​ and World Elder Abuse Awareness Day to heighten awareness of how Canadians can protect themselves against these risks and leverage these efforts to reach Canadians year-round.​​​

How we’re measuring success
Improving financial literacy and the financial well-being of Canadians will take time. It will require a focused and sustained effort by organizations in the public, private and non-profit sectors. We are seeking long-term change, but the effort will be worth it.

What will success look like? In qualitative terms, a growing number of Canadians will be better informed and more confident in dealing with financial matters and making decisions that improve their financial well-being and keep our economy strong.

Progress on the strategy will be measured using a range of evaluation tools supported by research, for example, on effective methods of delivering initiatives to Canadians. The Canadian Financial Capability Survey, conducted every five years (next in 2019), has helped to identify goals and will be a key reference point for measuring change in Canadians’ financial literacy over time. Tracking, measurement and reporting mechanisms will be established to ensure individual programs are consistently evaluated and, if necessary, improved upon. Best practices will be shared.

The Financial Literacy Leader and the National Steering Committee will assess progress and get feedback by consulting with stakeholders and partners who provide tools and services, and from Canadians directly through surveys and feedback on the programs, tools and resources that they use. The Financial Literacy Leader will report on progress through FCAC’s Annual Report.

Canada will benchmark itself internationally. Canada will participate in the OECD’s 2015 international survey that will allow us to assess financial literacy levels among adults and compare results with those of participating countries. The level of financial literacy among Canada’s young people will also be measured through the OECD’s Programme for International Student Assessment​, which surveys 15-year-olds and provides a basis for measuring progress and identifying new areas of focus.