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Reform of the CPP is a step in the right direction I mprovements to the Canada Pension Plan (CPP) will be bene cial for future retirees. On June 20, the federal government reached an agreement with most provinces that will see CPP bene ts increase in the future. This is welcome news to millions of Canadians. CPP started 50 years ago and has not had any signi cant increase to bene ts during that time. The last major change was during the 1990s when contribution amounts were increased to ensure the CPP was nancially sustainable. Previous attempts to reform the CPP have failed. The federal government and provinces could not agree on how to reform the current plan. No sense in duplicating federal efforts Ontario decided to start its own version of a provincial plan and announced the Ontario Retirement Pension Plan. While it was noble of our province to attempt to augment retirement income, completely duplicating the federal efforts made no sense at all. Government programs cost money to implement. For one province to completely duplicate the activity of the federal government, in my opinion, was not economically justi able. Finally, the federal and provincial nance 19 | Thursday, July 7, 2016 | OAKVILLE BEAVER | www.insideHALTON.com For more news, visit insidehalton.com/oakville-on Sign up Online Visit WagJag.com Dollars & Sense Guest Contributor Peter Watson Buy Online: 40% off $30.00 ministers have agreed on pension reform. Ontario Finance Minister Charles Sousa said if the new reforms are implemented then Ontario would drop plans for its own provincial initiative. Changes will be slow There will be changes, however, the changes will be slow. A seven year phase-in will likely start on January 1, 2019. Workers and their employers will contribute more to the plan. The current CPP plan requires employers and employees to each contribute 4.95 per cent of income between $3,500 and $54,900. The proposed CPP plan will increase the eligible earnings that will require pension contributions to $82,700 by the year 2025. Employers and employees will each increase their contribution by one per cent to a contribution level of 5.95 per cent. see New on p.20 $30 FOR $50 TOWARDS RIBS, STEAKS AND MORE AT RIB EYE JACK'S ALE HOUSE IN BURLINGTON OR MISSISSAUGA Buy Online: 40% off $9.00 Buy Online: 51% off $59.00 UP TO 68% OFF DOG WASTE REMOVAL FROM DOGGY DOO SQUAD. SERVICE AREAS INCLUDE MISSISSAUGA, OAKVILLE, MILTON, BURLINGTON AND GEORGETOWN Brought to you by $59 FOR 3 OIL CHANGES, TIRE AND PRESSURE INSPECTION, BATTERY TEST, LIGHTS CHECK, AIR FILTER, AND FLUID LEVELS CHECK AT ACCURATE TIRE AND AUTO CARE IN BURLINGTON A $119.95 VALUE Good hearing but trouble with conversation? A lot of people have trouble catching what people say, especially in group situations, despite having good hearing. What a lot of people don't know is that this may be caused by damage to the so-called motor or amplifier function of special cells in the ear. A new type of hearing aid can help balance this out. A great many people have difficulty hearing others clearly on a daily basis. Bad acoustics, unclear pronunciation, background noise and music often make it challenging to catch what people say. This results in them having to repeatedly ask questions, straining to hear and perhaps increasingly avoiding discussions in large groups. As mentioned earlier, this may be caused by malfunctions in special cells in the ear. According to a theory proposed by hearing researchers, "motor cells" are a type of hair cell responsible for amplifying quiet sounds. They vibrate up to 20,000 times per second. If these hair cells do not work properly then quiet sounds are no longer naturally This improvement in hearing can be achieved for some clients through the new Phonak Audéo V's hearing aids. This cutting-edge hearing technology comes in a miniature casing that can significantly enhance the user's ability to hear speech in company. The hearing aids attune to the person you are speaking to and can also recognize if ambient noise increases in the background. Hair cells in the ear move very rapidly and can act as an amplifier or dampener. If these cells are damaged, they can no longer properly amplify speech and dampen loud noises. amplified in the ear and loud sounds no longer dampened. This leads to more difficulty in hearing what is said in a lot of situations. If the hair cells have been damaged by noise or blood circulation problems, hearing aids that amplify quiet speech and dampen loud ambient noise can be a good solution for most people. Connect Hearing is currently looking to improve hearing for people who experience these challenges and want to try this new technology. We are particularly interested in candidates who have trouble hearing speech in the situations discussed above and can benefit from a trial to see whether they notice an improvement. Interested people can register for a free hearing evaluation and a no-obligation trial of the Audéo V hearing aids by calling 1.888.408.7377. Hearing sensation! Swiss researchers: Audéo V is superior for conversation. ow Trial n E E for FR Call today to book your FREE hearing test.* ACT NOW! 1.888.408.7377 connecthearing.ca/fine *Complimentary hearing tests only applicable for clients over 50 years of age and no fees or purchase are necessary CAA Rebate for Private clients only and cannot be combined with any other offer, rebate or previous purchase and is non-redeemable for cash. Lyric, BAHA and Econo aids excluded. Certain conditions apply to the Price Match Guarantee. See clinic for details. ®CAA, CAA logo and CAA Rewards trademarks owned by, and use is authorized by, the Canadian Automobile Association. VAC, WCB, WSIB, ADP accepted.