canada has a state-regulated canada pension plan, it is not going to work.
state regulation means that CPP is a slush fund, but don't worry we'll just put the money back next administration.
oops, we've been voted out!
well, the next guys will put the money back.
still no, eh?
oh well.
seriously, it has always been my belief that CPP is just a hidden federal income tax. at least you can max out and not pay any more per year!
there's people that actually believe that baby boomers will clean it out, but quite honestly, if they paid into it, shouldn't it reflect that?
per person it works, so why not per 1 million people?
the money has been spent on non-pension stuff, plain and simple. it will run dry when the last of the boomers retire, then hopefully enough of us younger people would have seen this coming and set some aside. most people i know are quite aware they won't get a dime out of CPP.
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