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Canada Pension Plan...

What is the Canada Pension Plan doing?

  • It is a slowly dwindling fund

    Votes: 9 42.9%
  • It is about staying the same.. near inflation levels...

    Votes: 3 14.3%
  • It is growing slowly- slightly better than inflation

    Votes: 6 28.6%
  • It is growing aggressively

    Votes: 3 14.3%

  • Total voters
    21

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
what do you think?
 

Kylie_kiss

big Titties to the rescue
Mar 26, 2004
205
0
0
40
Toronto
you know what i think of cpp...
my mother in law is 67....has to wait till she's 69 to get her money, after that it gets taxed....what kind of bullshit is that????
no even the ol' folked gets a break...
i think the liberal government is a big crock of shit and they dont't care about us...they just want to spend taxpayers money, none of theirs, and keep lining their pockets...I HATE LIBERALS
THANX MCGUILTY
 

The Doctor

Still Without Humour
Jun 2, 2003
2,319
1
0
1060 West Addision
I don't really know if the actual fund is growing or not, but I do believe that the investment returns for the last couple of years have been reasonable. The CPP Investment Board has transitioned the portfolio from primarily fixed income investments to a more balanced portfolio over the past few years, to include passive equities and alternative products, and it is paying dividends (no pun intended).

It is tough to say whether the investment returns will be enough to compensate for the growth in the number of claimants over the next 15 - 20 years. The number of people in the workforce supporting the claimants is changing rapidly as the front edge of the baby boom approaches retirement age. This will ultimately determine whether the fund is growing or not.

Net growth of the fund is not necessarily the objective though...providing enough for those that depend on the fund currently and for years to come, is.
 

red

you must be fk'n kid'g me
Nov 13, 2001
17,572
8
38
Kylie_kiss said:
you know what i think of cpp...
my mother in law is 67....has to wait till she's 69 to get her money, after that it gets taxed....what kind of bullshit is that????
no even the ol' folked gets a break...
i think the liberal government is a big crock of shit and they dont't care about us...they just want to spend taxpayers money, none of theirs, and keep lining their pockets...I HATE LIBERALS
THANX MCGUILTY
mcguinty has little or nothing to do with cpp.
 

hambone

New member
Nov 18, 2001
1,585
0
0
lurking
I don't understand why someone would have to wait until they are 69 to collect CPP. I believe it is unversally avaiable at 65 and I know people who are collecting it in their 50's.
 

The Doctor

Still Without Humour
Jun 2, 2003
2,319
1
0
1060 West Addision
The earliest that you can request to begin receiving your CPP benefit is the month after you turn 60. You can elect to receive it starting at a later date if it you are still working. According to the CPP Investment Board's website, the investable assets in the CPP has grown from $44.5 billion in 2000 to an estimated $77.2 billion in 2005 (CPP Assets). While this represents asset growth in excess of 70% over that timeframe it is diffucult to know whether this is good or bad unless you know the liability side of the equation and the projected growth in claims on these assets.

Not sure why your mother in law is still waiting Kylie. Perhaps there was a change to the payments of the Old Age Supplement (OAS).
 

papasmerf

New member
Oct 22, 2002
26,533
0
0
42.55.65N 78.43.73W
Piss and moan is not a retirement plan?:D

<papa ducks behind surplus tank>
 

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
Well.. this is what I discovered about our CPP fund here in Canada...

It is not a dwindling fund, In fact it is growing at a prodigious rate. It has
better than doubled in five years; it held just $37.6 billion in 1999. At the
pace that contributions are flooding in, the fund is projected to double again
to $146.8 billion by 2010. Once the waves of boomers start collecting in 2022,
benefits paid out will exceed contributions, but the fund will still keep
growing, albeit more slowly, from income generated from a $380 billion mountain of assets.

So folks, the money will be there when you retire. Of course,
keep in mind that the level of benefits is modest, and designed to ward off
poverty, not perpetuate the lifestyle of affluent boomers. If you're planning to
jet around to resorts or take the grandkids on Disney cruises, you're still
going to need a healthy RRSP to afford a stylish retirement.
 

Gentle Ben

Senior Member
Jan 5, 2002
7,219
0
36
21pro said:
Well.. this is what I discovered about our CPP fund here in Canada...

. Once the waves of boomers start collecting in 2022,
benefits paid out will exceed contributions, but the fund will still keep
growing, albeit more slowly, from income
.
The wave of boomers is set to start collecting in 3 to 5 yrs,(not 17 yrs) as the first of the boomers will be hitting 60yrs old then
 

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
true you are, however, the largest segment of the cohort won't start collecting until 2022... from 2010 to 2022 the pension will still strongly outgrow the demands put upon it from the early boomers.
 

pro419

Banned
May 5, 2003
122
0
0
CPP Payout is not enough

Here what if find out in cpp fund. I am not sure about the investment stratigy of the fund but i could see that the contributions and the payout are not balanced which i think it may cause the system to collaps.

1- as our population are aging and living longer, I find out that the average age of life expectancy in canada is going up to be in the early eighties to early nineties from mid seventies, with more focus on health care, our population is living longer life and they are definitly taking more $$$ out of the CPP fund.

2- Our younger Generation whome are not contributing to the fund because of lack of employments, lower wage earnings or simply they turn to be self employed, or new immigrants, or emmigrated to usa, europe and asia seeking overseas employment. In the last 30 years canada's population did not grow at all despite the increase in the numbers of immigrants and births, while pensioners population grown dramatically.

3- This situation of aging population and longer life expectancies and the emmigration of yonge canadians who chose to work oversease, caused big gap between the contributions and the payout that caused deficit in the fund year after year.

4- The benefits paid out to our seniours are not enough to cover the continuously increasing cost of living. At maximum of approx $ 1300
per month it may not cover any basic costs such as rents or food or closthing or even personal care and it does not even keep up with the rising costs of goods and services due to incrase in the inflation rate year after year.

5- Its clear that the fund need to be re-designed now to reflect the facts i mentioned, as suggested baby boomers who will be retiring soon
may increase the number of pensioner dramatically and cause the system to a larger deficits if these problems not addressed right now.

6- I find out that the government deliberitly ignoring the issue of cpp, instead of dealing with the problem, its encouraging canadians to build their own private pensions such as RRSP or RRIF etc or its pushing lot of private and government Retirement funds to take place, but these funds serve those who worked in the government or large corporations who maintain such funds, but those who can't get such retiement packages will definitly suffer as a result of this policy.

Pro419
 

The Doctor

Still Without Humour
Jun 2, 2003
2,319
1
0
1060 West Addision
:rolleyes:

For someone who can formulate somewhat intelligent thoughts you think you'd be able to find the spell check key.
 

21pro

Crotch Sniffer
Oct 22, 2003
7,830
1
0
Caledon East
spelling and grammar nazi?
 

pro419

Banned
May 5, 2003
122
0
0
I wonder about u guys

Considering english as my second language, I am glad that I could come up with such article, few misspellings or few grammer glitches are ok as long as you could understand my point. but i wonder how shmuks like you will score when they try to write and speak in my first language. :confused:

Cheers

Pro419
 

The Brus

Guest
Nov 30, 2004
166
0
0
Windsor
I think Kylie has confused the Canada Pension Plan with the RRSP. The Canada Pension Plan can be collected, as the Doctor said, as early as 60, which I plan on doing shortly. Old Age Security Pension is collected at 65. The RRSP must be converted in the year you are 69, at the latest.

A further note...Old Age Security Pension and Canada Pension Plan must be applied for. If you are late, they will only compensate you for about 18 months. So one should always file about six months in advance, in order for the bureaucracy to handle the application in typical bureaucratic fashion.
 

to-guy69

New member
Mar 28, 2004
1,470
0
0
Sonic Temple
Bottom line...this plan only works for the Ontario government who subsidizes other programs with your CPP money.

The average white North American male only lives to 72 years of age which is only 7 years over retirement anyway.
 

someone

Active member
Jun 7, 2003
4,307
1
36
Earth
to-guy69 said:
Bottom line...this plan only works for the Ontario government who subsidizes other programs with your CPP
As the name implies, the CPP is federal.
 
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