Quote:
Originally Posted by calumniate
I have a question with regards to CPP. Apparently the fund has been taking a hit of sorts, and my employer has been matching my contributions for 3 years.
My dad mentioned that it's actually a good thing to contribute to CPP in this downturn, as the 'units' or stock of CPP will be less expensive so technically I'm buying more stock right now then I would be otherwise? Are there any wheels to this argument? Honestly I haven't paid much attention to my CPP - sorry if this question isn't that clear.
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I might be wrong, but I don't think you can control how much you contribute to CPP. It's a mandatory government program and money is automatically deducted from your pay cheque proportionate to your salary just like income tax and EI. Maybe you're confusing it with your employer's private pension fund?
[Edit]
If you are thinking of your employer's pension plan, it's
always a good idea to contribute the maximum amount that the company will match. Don't neglect making personal RRSP and/or TFSA contributions just because you have a company pension, though.