Latest news with #DPSP
Indian Express
27-05-2025
- Politics
- Indian Express
Much need not be read into recent defections from AAP. Every political party goes through such churn
Written by Saumya Gupta On May 17, as many as 13 MCD Aam Aadmi Party (AAP) councillors left the party to start a new organisation: Indraprastha Vikas Party (IVP). This political blow comes right in the wake of AAP's defeat in the Delhi assembly elections. This again raised a crucial question: Is AAP a post-ideological party? Many scholars attribute its defeat and defection to the absence of ideology. However, one must go beyond such a limited understanding to unpack AAP's politics. My argument here rests primarily on three ideas that shape its politics. First, its commitment to Directive Principles of State Policy (DPSP); second, the party stands for welfare, rooted not in the structural inequalities; and finally, the party attempts to be principally against any form of political violence. The provision of DPSP in the Indian Constitution reflects socialist, Gandhian, and liberal ideals, guiding the vision of a just, welfare-oriented state. AAP's governance, as evidenced in its mohalla clinics, legal aid drives, public schooling, and free bus services for women, embodies these principles. Critics argue this focus on efficient public service lacks ideological depth. Yet, when viewed through the DPSP lens, AAP's model aligns with a form of 'actionable ideology' rooted in addressing material needs. Its politics of citizen-centric delivery gained popular support, though some feared it would become merely transactional. Its weakness lies not in the absence of ideology, but in the lack of a language that could articulate it. Drawing from Antoine Destutt de Tracy's notion of ideology as a 'science of ideas' tied to material conditions, AAP's actions can be seen as ideological. Since coming to power in Delhi, AAP has focused exceedingly on economics and public finance. However, a lack of a deeper understanding of structural inequalities in India, predominantly caste, has been a consistent lack in its politics. Arvind Kejriwal's emphasis on state efficiency was a recalibration of politics, implying that administrative push is enough to fight inequality, without resorting to caste politics or social engineering. AAP achieved 'national party' status in the shortest time. Notably, it is also one of the very few national parties without any history of political violence. It breached the conventional political space of identity-based, caste/class-based or regional rhetoric-based politics and found a new space to redefine conventional understandings. Scholars like Sacha Kapoor and Arvind Magesan have stated that if there is a regional party rule, the chance of political violence increases. This argument, however, doesn't hold for AAP, which started its journey through satyagraha and has remained aligned with Gandhian philosophy, at least on the question of violence. Kejriwal's rise reshaped opposition politics in India, pushing traditional left-of-centre parties to reassess their approaches in light of AAP's tangible public service delivery. While critics accused him of 'soft Hindutva', his appeal lies in effective governance and bold political manoeuvres. His instincts for timely political action have made his political performance different from that of other political parties. Defeats and defections are part of the political game. So, discarding it as a non-ideological party amounts to a misreading of its political trajectory. The writer is a political consultant who was earlier with Centre for Legislative Research and Education, FLAME University
Toronto Star
11-05-2025
- Business
- Toronto Star
My company offers a deferred profit-sharing plan. How does it differ from my group RRSP?
What looks like an RRSP, but isn't an RRSP? Of the many financial vehicles to help Canadians save for the future, a deferred profit sharing plan (DPSP) comes with its own rules and regulations that set it apart from an RRSP. A DPSP is an account that only an employer contributes to, and generally speaking, it's meant to represent a percentage of your company's profits, says Jason Heath, managing director at Objective Financial Partners in Toronto. He adds that this percentage can often range between two and four per cent. 'It kind of works like a group RRSP where your employer is just putting money into a separate account effectively,' says Heath. ARTICLE CONTINUES BELOW Heath says every plan is different, so it's important to read the fine print for specifics, like what happens to the contributions if you leave your job or get laid off. 'The DPSP provides flexibility if the employer gets into financial difficulty,' he says, 'but it also provides some flexibility to take back contributions if an employee leaves.' Also, be sure to read the fine print for the vesting period. 'The DPSP can have a maximum vesting period of up to two years,' says Cindy Marques, certified financial planner and director at Open Access in North York. Personal Finance Amid U.S. tariff storms, you really need a rainy-day fund. Here's where to park your money Experts says keeping emergency cash liquid is crucial, in an account that earns at least some This, Marques says, means that you would have to stay with the company for the duration of that vesting period for those funds to belong to you. She adds that if you leave your job after a year, and your DPSP has a vesting period of two years, your company could reclaim its contributions — the main difference between a DPSP and an RRSP. 'With RRSPs, that's immediate vesting,' says Marques. 'So your employer makes a contribution, you quit the next day, that money is yours to take.' ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Where you can withdraw money from an RRSP, you can't withdraw your company's contributions from a DPSP. Marques says that as long as you're with your company, that money stays in the DPSP. The tax implications between a DPSP and RRSP also differ. While RRSPs allow individual contributions that are tax-deductible and earnings can grow tax-deferred, DPSPs are tax-deductible until you withdraw the money. 'After you leave, you can roll the DPSP into the RRSP without any taxable consequences, and now you have more control over that money,' says Marques. You can also take the DPSP out in cash, but Marques warns that doing this triggers a 'huge taxable burden.' Personal Finance Bringing a dog home just got more expensive. Here's how to keep your best friend happy and healthy on a budget Aspiring dog parents can expect to pay between $1,750 and $4,655 in upfront costs to bring one home. Lastly, note that DPSP contributions reduce your RRSP contribution room for the following tax year. Heath points out that contributing to your RRSP will reduce your contribution room for the current year. 'But with a DPSP, your employer's contributions to the account reduce your RRSP contribution room for the next year,' says Heath. 'Employer contributions to a DPSP result in what's called a pension adjustment, and that pension adjustment reduces your RRSP room on a one-year delay.'
