Oh they are out to get us dude. Agreed. But I'm paranoid. Or semi. Lol.
Oh they are out to get us dude. Agreed. But I'm paranoid. Or semi. Lol.
Lol Harold, a perfective example of those who don't seem to actually understand….and liberals who expect to live cradle to grave….
Do you even know what an actuary is?
How Pension plans work?
Why CPP is being looked at so hard?
Lets assume you contribute the max an can receive the max CPP benefit. $12,800/year
Lets assume actuaries know what they are doing and life expectancy today for males is (I believe) 22.1 years
22 x $12,800 = $281,000
How many Canadians are there drawing?
How many will be in the not too distant future?
Now lets assume you contribute the max for 22 years (depending on income) but for illustrative purposes $1,000/year
22 x $1,000= do the math. $22,000 in, $281,000 out.
Now for just starters what impact do you think Boomers might have? Once they
A) leave the workforce and are no longer working, paying taxes and their lol, share.
B) Start sucking the life out of CPP, Healthcare and more.
Do you really think for one iota of a second they didn't know/rely on a certain percentage becoming worm food before collecting theirs..when they introduced it?
Do you think back in the 1960s anyone really foresaw some of these things? Not the least of which is
life expectancy being….20 years aka into your eighties? Back then it was in the low teens. Aka you'd only draw for 10years before kicking the can.
Do you know anything about retirement planning?
Im curious Harold.What do you do for a living?
Jesus good god, do you read any news at all, about Pension Plans, CPP, OAS and the needs for reforms. Why the heck do you think Martin boosted the premiums? Do you understand why immigration and population growth is important?
WHy the middle class (the tax base) is so important?
Understand Anything?
As Terry rightfully said
You don't seem to understand that those looking to withdraw from it are growing faster than those contributing to it.
Its a ponzi scheme. A rose by any other name….
******************
Now Harold, perhaps in the future before taking weak baseless uninformed snipes that require you be taught a lesson or what 5 now?. In the future have some substance, to atleast debate/discuss…"or don't "shoot" the messengers. You know forum rules are quite explicit about this…about no need to agree but respect/discuss, trolling etc.
Im surprised you haven't been booted yet, given Your a self admitted troll who likes to stir the pot, cause trouble, derail threads and all you seem to do is take weak arced pot shots and really……lol.
You need abetter game Harold if you think its much more than a mosquito in the room.
Last edited by JBen; July 21st, 2015 at 08:54 PM.
Really good points jben. If we go back through this thread we talked about RESP. My money. We talked about RRSP. My money. But when we talk about CPP why is it a crap shoot? Ive been contributing since 1976 and the government is going to tell me what im getting. Its total . I put in. I want it out. Simple.Originally Posted by JBen
I won't respond to all that gum flapping but I will say this: the more Canadians that can be encouraged/induced into putting savings into a plan such as(or modeled on) the CPP the fewer will need gov't handouts when they reach retirement. Sound a bit more fair than many spending all their earnings and then being dependent on the rest of us for support---at least in the world that I live in, but I don't know about yours.
Lets see if you understand "this":
1) Topics such as these are not simple.,they are quite complex.,and many things such as population growths, life expectancy and more are part of it/,so what you call gum flapping is I'm sorry to say, simply broadening the scope (maybe your knowledge base?..dunno). Maybe that explains why all you have have it yet another.....
2) once past yet another terribly weak attempt at an insult to what, get under my skin? Please.. You really do need to up game there, your not very good at it.
The rest is wow how nice for a change from you. Actually contributing thoughts/opinions. Versus nothing but.....
Now this is how discussions works. I don't wholly agree with your thoughts because primarily CPP isn't cutting it and I can back that up with soo much starting with the fact ALL govts are concerned about it. . I don't agree with doing the same old same old when it's not working so you? and two
That means people are taxed yet more. People are already taxed to the teeth and that's why, they can't save.
And three if i die early I want my kids to have it, benefit from it. Not "you" or big nanny.
However, see how I can disagree with you, yet still respect your opinion/thoughts without attacking you or them or insulting you?
Lesson over.
Last edited by JBen; July 21st, 2015 at 10:22 PM.
Rapala, dare devil, spinner bait, moose look,big O,cyclops, Williams,shad rap,which would be the perfect one to "troll"with??? I missed one , I think a "JERK" bait would be ideal!!! HHhappy fishing, everyone!!! Good luck !! Lmfao!!
There's a huge flaw in your statement. The CPP was completely unfunded until 1997. It is only 20% funded now and the plan is to have it 30% funded by 2075. The plan for the Ontario Pension Plan is to be 100% UNFUNDED. The money IS NOT being saved. It's being spent on infrastructure and future taxpayers will have to come good for the pensions for the people paying in now. What you are defending is 100% backwards to your reasoning behind defending it.
You'd do well to do be a little more civil in your replies as well.
You're coming across as an idiot and a rude one at that.
Last edited by werner.reiche; July 22nd, 2015 at 07:21 AM.
Some people just don't understand that ideology never replaces mathematics.
I’m suspicious of people who don't like dogs, but I trust a dog who doesn't like a person.
Key paragraph from the article:
"With each new percentage point of earnings mandated for contribution, the report finds, there was a “substitution effect,” namely a 0.895 per cent drop in voluntary savings. In other words, an additional dollar contributed to the CPP led to a proportionate decrease in the average household’s private savings. If such findings prove consistent with the implementation of this provincial plan, then the entire exercise will be a waste, leading to greater government control over retirement savings than is currently the case."
The whole point of this ORPP is to take $$$ from peoples savings and dump it into Toronto infrastructure. There will be no pension "fund" - just a tax bill for Ontario's future taxpayers.
Last edited by werner.reiche; July 22nd, 2015 at 07:49 AM.
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