Tel. 980-0511

ae

yes
Ly
Ley

BORED WITH SUNSHINE, this guy gives the impression that he would be much happier on some g
snow with a few icebergs not too far away. (lan Smith photo)

ood old northern

Pension plans
being eroded

by inflation

Workers can’t afford fo retire

Some workers may
not be able to afford to
retire because their
pension plans are being
eroded by inflation,
according to Kenneth
M. Dye, the president
of the Institute of
Chartered Accountants
of British Columbia.

Speaking to ai B.C.
chamber of commerce last
week, Dye said pension
planners face a major
problem because private
plans cannot. afford the
indexing for inflation built
into some government plans.

If private plans are in-
dexed to inflation, costs will
rise within a companyand
contribute to more inflation,

while if the plans are not
indexed, employees in the
private sector may find their
pension incomes inadequate
when they reach their
retirement years, Dye said.

Dye said that only half the
manufacturing workers in
Canada were covered by a
pension plan in 1978, and
less than one per cent of
agricultural workers had
pension plans. This com-
pares with 98 per cent
coverage in the _ public
sector.

“If the sector is going to
ensure that employees have
adequate pensions,” said
Dye, “employers must
explain that a pension is
nothing more than deferred
pay.

CONTINUED ON PAGE C 2

Sale

Lino, Carpet & Roll-ends

Edgemont

Carpet & Lino is pleased to in-

troduce their new manager Pat Breslin. Pat
would like to invite everyone to come in and
take advantage of this sale. Stock has to go and
iS priced to clear Hurry for best slection.

y eOogemonc 7ceRtors LLCO.

CARPET & LINO CENTRE
2029 Lonsdale Ave.
(just across from London Drugs)

985-0114