Quote:
Originally Posted by Jason14h
If a person doesn't have any income at 95 years old they are either on the street or someone is paying for them/it is having an effect
Personally I hate CPP, but when I see so many people who have no savings or under 10$k savings in their 30s I get why we need it
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The government could say that 10% of your monthly income must go into an approved government retirement savings account. As cpp stands right now, the government is getting an exceptional deal, an interest free loan for 20-40 years.
For anyone that doesn't know cpp will be going up in 2019. The max contribution will go from $54,000 to $83,000. That little extra many people get at the end of year will disappear.
https://beta.theglobeandmail.com/glo...service=mobile
It means an extra $9 a month to start then $43 extra a month when fully phased in. A nickel here, a dime there.