Flame is right, because CPP is based on a pyramid scheme, it is doomed to collapse. At some point the top is going to get too heavy, too much of a burden, for the workers. The fact that the average age is growing by leaps and bounds is only going to compond this failure. I mean, a lot of these 65 year olds will live to be a century now with the medical technology we have. Unless they increase the age of when you can receive, making you work and therefore pay in longer, there's going to be big problems.
Making the younger crowd pay in more, is HARDLY a fix in my eyes. Sure it may have relieved the strain and helped save the system, but we're still not getting what we pay into it this way, we are just subsidizing others costs.
And 9.9 is a GROSS amount to pay. Besides, investing that 9.9 yourself would yield you far larger returns. I'm sure if you could invest even 6.0 of that you could make more for your retirement than the gov could and still have a cool 3.9 for spending.
It's a tax is all it is really. Though at least we can take solace in the fact that we are helping the older generation. I guess the fact that we agree with a certain level of 'social responsibilty' is one of the reasons why many of us live in Canada, though there are lots of debates recently about changing this. (Health care, etc.)
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