hard to scam the government for welfare etc if you show having a job duh.. Do you have any idea of how hard it would be to make the Benz/BMW and Lambo lease's to park in my mini mansion with a regular job sheesh if it was not for the side gig scams it would be tough.
I know. Sometimes it's hard to see other people's plight when i'm looking through my tears at how much I paid in Federal tax.
high income earners pay extra cpp nothing we in the trucking industry will have to worry about....
In spite of what fear mongers might tell you, the Canadian Pension Plan is one of the best run and most sustainable public pension plans in the world. Nothing will ever take the place of proper planning for your own future, but as an additional source of retirement income, CPP isn’t too shabby!
Yep. I have an accounting degree I never use but I had a great prof that said CPP was only good enough for a day at the casino or night at the rippers.
Exactly. CPP was never designed, nor intended to provide anyone with a luxurious, worry free retirement. It is simply a modest source of additional, retirement income. It certainly doesn't relieve you of being a conscientious saver during one's working career.. It is at best, a pretty thin safety net for those with no other source of income.
that is an understatement...A Pension Plan should be providing a livable income for retirement for the current conditions, if not what's the point of it? No one expects to buy a lambo and pay a mortgage with it, but whats provided to someone whos been contributing for decades of their working careers is a far shot from whats needed. I know people that get less that $1600/ month from their CPP, coupled with their OAS of about $600 to $800 a month...That barely gets you a 1 bedroom apartment anywhere in the GTA. Considering all other basic necessity expenses (food, phone, gas, electricity), there's a wonder why a good portion of the Homeless in our country are seniors. It may be the a good program on paper and I can agree with the sentiment of "having something is better than nothing" but there are more incentives for folks who just came to the country vs. the ones that have been here contributing for decades.
That is my point exactly. If you need more money to live on during your retirement, the answer is simple…..SAVE MORE while you’re working. Lo and behold, the money will be there when you decide to hang up your skates. If you decide not to put something away for the future rainy days, that can hardly be called the governments fault. For those of you who feel strongly that CPP should pay more, then lobby your federal politicians to increase the amount of the mandatory contributions made by both employees and employers, something that will no doubt be met with a some stiff, negative response. It isn’t rocket science. If you want a larger return at the end, you must make larger contributions.
Cherry picking a few biased studies, especially when you include that conservative think tank, the Fraser Institute, hardly gives the full picture on the health and performance of CPP. Unfortunately, my days of cutting and pasting have dried up like the tube of white glue, but please, expand your search to include a few more reports and you will find that CPP is one of the most highly regarded global pension plans, regularly scoring in the top ten in many different categories. The system is far from broken.studies actually show the latter:
5 Myths of the Canada Pension Plan
www.fraserinstitute.org
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The systems broken, and you can choose to either accept it or deny it, your money and Free country.
What I do feel strongly about is how our Taxed funds are allocated, and that's a whole other discussion.
Yep, 396.00 is the max for CPP2
This myth that CPP will not be around for the current crop of contributors to draw from, has been around for years, even back to when it first began. Actually, this is a good myth because hopefully it might encourage younger folks to start making some retirement plans outside of CPP.
CPP2 is not the result of, or designed to repair any deficiency on the part of the Canada Pension Plan. It is intended to provide more retirement income for higher wage earners, those earning above the base level. Not at all a situation of “having to throw more money at it”.
