a nice summary of the various generations

http://www.theglobeandmail.com/globe-drive/car-tips/its-covered/talking-bout-my-generations-rates/article1502153/

D: the article is actually about car insurance rates.

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Generation Y (born 1977-1991): The Internet generation, they learned to drive before they ever got behind the wheel of the car – via video games, of course. The centre of their parents' universe, these high-maintenance kids have been groomed for success. Voted most likely to have their own car before the age of 18.

Generation X (born 1965-1976): Generation X has sometimes been described as disaffected, directionless, lacking passion and drive. This group grew up during a period of the dot.com boom, combined with reduced expectations of long term relationships between employer and employee.

Baby Boomers (1943-1964): This generation thinks the world revolves around them, and for the most part, they're right. They command the most attention from marketers, media and politicians. Clinging to their youth, this group has been voted most likely to sport a bumper sticker saying, "Just Like You ... Only Richer & Smarter." As a group they're the healthiest and wealthiest.

The Silent Generation (1925– 1942): This generation of hardworking people focused on getting things done and advancing their careers. Yet, they've been called withdrawn, cautious and unadventurous.

The Greatest Generation (1911-1924): This generation had the Second World War and spent the ensuing years rebuilding their lives. These men and women have no problem fighting for what they believe in.

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D: The pre-Boomers did manage to luck into a pension plan without paying for it.
And benefited from many other social programs too.
However, I have difficulty holding that against them. They did collectively defeat fascism, after all.
Plus they are not that numerous.

D: I was talking to a contractor inspector yesterday at work. He pointed out the impact of recent CPP changes.
The payoff for early retirement was reduced, plus the payoff for later retirement was increased.
I think from 5 to 7% difference in each cash. Some formula based on # of months before/after age 65.
Anyway, let's say this deters somebody from retiring at 65. Let's say by 3 years.
Well, not only is that 3 years more payin. It is also 3 years LESS payout. The retiree stills dies at the same time.
So at the same time as this reform makes retiring at, say, age 65 impractical, it in turn contributes to pension plan viability.
A whole lot of people don't have the personal savings to retire at their desired standard of living.

http://www.mercer.com/summary.htm?siteLanguage=100&idContent=1351770
D: a list of recommended CPP changes.

Prior to 2007, it was required that a Registered Retirement Savings Plan (RRSP) be converted to a Registered Retirement Income Fund (RRIF) by the end of the year in which the owner turned 69. The 2007 Federal budget revised this age to 71, for both RRSPs and RPPs. RRIF owners are required to withdraw a minimum amount each year, starting the year after the RRIF is established. This requirement is waived, and there is no minimum withdrawal in the following circumstances:

for 2007, for RRIF owners who turn 71 in 2007, and

for 2007 and 2008, for RRIF owners who turn 70 in 2007.
There is no advantage gained by converting your RRSP to a RRIF before age 65.

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D: same incentive, I think.

D: these look like quiet reforms that basically admit that the CPP plan maybe is not as solvent as they let on.
After all, if everything is fine, then why all these little changes, introduced without much fanfare?