Finance ministers reach deal to expand Canada Pension Plan

[mrkajz44]

There is no CPP clawback, but there is clawback on OAS (old age security) or GIS (guaranteed income supplement).

[Locke]

Originally Posted by Lubicon

Or they claw back some of the benefits due to your retirement income level, then you don't get out of it what you put in. Or is that a different government program that does that?

Originally Posted by mrkajz44

There is no CPP clawback, but there is clawback on OAS (old age security) or GIS (guaranteed income supplement).

This is true, but if you have a public service pension it will be reduced by the amount CPP pays.

[GGG]

Originally Posted by MisterJoji

This feels like a handout to those who improperly prepared for retirement. I'm all for helping out the low income seniors but I'd almost prefer they kept CPP where it's at and if by the time I retire there's nothing left, that's fine by me. And trust me I'm not rich, I grew up with only one parent and we were on welfare for a bit. But I went to post secondary, started investing immediately after starting my career and should be moderately comfortable when I retire with just my work pension and own investments. This is just more of the gov't taking out out my pocket and giving to those who haven't earned it.

Do you have an issue with your work pension taking money out of you pocket and giving it to people who don't deserve it?