Quote:
Originally posted by Mean Mr. Mustard@Sep 26 2004, 05:10 PM
But as a rule people don't invest for their retirement and then some pretty sad things happen/
|
In my comparative youth, working for peanuts in Grande Prairie, I went to look for a small place to live on a peanut worthy budget.
I came across this ex-Army guy, retired, in a tiny basement suite, renting, who wanted to sub-rent a bedroom. What a terrible situation. I decided right then and there that in my old age, I would never be in the same position as that guy. I've never forgotten it and its been a good impetus for me.
Maybe someone can give me insight as to how the CPP works, as I am not nearly old enough to retire and don't really pay attention to it. Does everyone get it, regarless of income levels? And at what age do you start getting it? 65 I'm assuming...
CPP is something most, but not all, Canadians contribute to. As an example, a housewife likely doesn't.
Payments can start at a reduced rate at age 60 or at the full rate at age 65 I believe.
Many Canadians remember the news one day when it became known Pierre Trudeau began receiving his CPP.
Cowperson