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Originally Posted by Goriders
I don’t think that’s the case. But if there was a better option I would be interested. Who wouldn’t?
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Quote:
Originally Posted by Goriders
There was one other item that they kept talking about online. It was a $1.4 trillion deficit that I think the CPP carries. Something about the original recipients funding not being covered by their contributions (because there weren’t any) at the start of the program. I didn’t quite follow that part.
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In 1990 the fund changes so it would be solvent. This involves today’s contributors paying for current retirees so people end up contributing more then they wil get as a result.
The CPP doesn’t have a deficit, it is solvent until 2075 meaning with predicted growth and contributions it will be able to pay out retirees. It does rely on current workers paying for current retirees at the present time.
You also have said you don’t want the better option of the Calgary pension plan yet didn’t say why you don’t?