Actuarial Science 1021A/B Lecture Notes - Lecture 3: Ontario Health Insurance Plan, Retail Loss Prevention, Savings Account
9 Dec 2015
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Document Summary
Principles of economic security programs (at gov. level) How much economic security responsibility falls on individual and how much on gov. Higher level of gov. should not do things that lower level can accomplish. Gov. shouldn"t perform tasks people can do themselves. If a program is desired by majority, gov. will make it happen. No one approach should be used to solve economic insecurity. Want programs that supplement and complement each other. Employment insurance, offset with gov. policies that encourage job creation or retraining programs. Rehab of drug users alongside awareness programs of dangers of drug use. Mandatory cpp participation alongside offering things like tfsa and rrsp"s. Ohip alongside promoting a healthy and active lifestyle. Allows basic floor of income protection to be provided at a reasonable cost to the masses. If everyone participates to si program, there should be enough money in program to pay for the benefits. Individual is responsible for his own economic security in most countries.
