Quote:
Originally Posted by Slava
Yeah and for most people the rule of thumb is ~10% for long-term savings, so that's not surprising. Like I say, the point of this thread is discussing teachers who are at the end of their rope though...which is why we were talking about 20%.
Retirement planning in general for people is a different ballgame.
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I guess my comment around the matching is that the public’s perception of the difference between a typical professional working in an office with a 3-9% match and potentially other incentives/benefits vs the teachers plan with a 9.5% employeer match is drastically overblown.
And second
Many people don’t want to have the TPP as their pension plan as evidenced by the opposition to CPP increases which is a greater than 100% employer matched defined benefit pension.