Quote:
Originally Posted by Senator Clay Davis
Again I'm getting this stuff from the CPP and CPPIB websites, but apparently assets held in the CPP fund are by themselves insufficient to pay for all future benefits accrued to date but sufficient to prevent contributions from rising any further and that CPP's chief actuary showed that this type of funding method is "robust and appropriate" given reasonable assumptions about future conditions.
So again, with proper management, the system seems to be in a strong position going forward. CPP is according the various reports published on the CPP and CPPIB websites solvent until 2075 at least. Unlike social security in US America, we've actually managed our fund very well (SS projected to be broke by around 2038)
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Much of it has to do with the changes made by the Liberals in the 90s. Think cuts and reforms. Something the US refuses to do.
Either way, the baby boomers are an obvious concern, but I'm not really worried about CPP. They've been running it quite well.
Still like the idea of a provincial pension plan though.