Quote:
Originally Posted by albertGQ
I heard its just the media that is painting this doom and gloom picture. The CPP is a pay as you go system, so all the feds have to do is hike up the CPP premiums and cut the benefits to support the baby boom
I do agree that the CPP is not an efficient pension plan. We can all do better if we invested the money ourselves, but the estimates of the CPP going bankrupt are premature IMO
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So your solution is to pay more and get less? That sounds like a very big problem to me.
At what point does the CPP tax get too high? 2%? 5%? 10%? 25%?
And at what point do the benefits get too low? $866 / month is the maximum now. Considering a CPP only retirement income doesn't provide a good standard of living and the never ending inflation and cost of living increases, how much lower can it go before CPP income is considered irrelevant?