News Canada Pension Plan will replace roughly 30% of a worker's earnings in retirement - GoFuckYourself.com

brassmonkey · 06-22-2016, 01:48 PM

The Canada Pension Plan will soon start collecting more of your money to provide support later in retirement, after the federal government and most of the provinces hashed out an enhancement plan Monday.

Depending on whom you ask, the hike is either a much-needed shot in the arm for middle-income retirees or another blow to the bottom line for businesses.

What the CPP boost means for the average Canadian worker - Politics - CBC News

Spunky · 06-22-2016, 02:09 PM

Something has to be done to help the future retirees. There won't be enough

Hannes · 06-22-2016, 03:05 PM

its not a bd amount, but the cost of living is fairly high. you'll need more money than the 30% you're given

_Richard_ · 06-23-2016, 04:21 AM

Quote:

Originally Posted by Spunky

Something has to be done to help the future retirees. There won't be enough

yea.. or, they need more money for their canadian pension war-machine

Bryan G · 06-23-2016, 05:47 AM

Quote:

Originally Posted by Spunky

Something has to be done to help the future retirees. There won't be enough

Or people could be responsible and save their own money via investments like RRSP's and Tax Free savings accounts?

directfiesta · 06-23-2016, 06:39 AM

Quote:

Originally Posted by Bryan G

Or people could be responsible and save their own money via investments like RRSP's and Tax Free savings accounts?

That is not enough ... I put 15K a year ( max) allowed of my income in RRSP ... But younger, I did not have the available income to do that .

I am near retirement , so at one point I will start taking out ( I am obligated by age 72 ). How long will I live . Will it last long enough if I live another 20 years, 25 years ...

I will have Provincial RRQ ( 700.00/month ) and Old Age security ( 650.00/month ) plus my pull out of RRSP .
I am fortunate in the sense that I have a few rental properties that bring me cash flow monthly, and that I will be able to sell as money is needed ; also, I have no dependants ( wife, kids, etc..) so I can spend it all.

But for ordinary hard working people, they will retire in poverty .

Bryan G · 06-23-2016, 06:44 AM

Quote:

Originally Posted by directfiesta

That is not enough ... I put 15K a year ( max) allowed of my income in RRSP ... But younger, I did not have the available income to do that .

I am near retirement , so at one point I will start taking out ( I am obligated by age 72 ). How long will I live . Will it last long enough if I live another 20 years, 25 years ...

I will have Provincial RRQ ( 700.00/month ) and Old Age security ( 650.00/month ) plus my pull out of RRSP .
I am fortunate in the sense that I have a few rental properties that bring me cash flow monthly, and that I will be able to sell as money is needed ; also, I have no dependants ( wife, kids, etc..) so I can spend it all.

But for ordinary hard working people, they will retire in poverty .

Well its better than nothing, I know people my age (37) that don't save shit. I can't understand it. When I retire my house will be paid off and I am planning on buying another soon to rent out. Most people will have to work well past 65 though.

Spunky · 06-23-2016, 06:59 AM

Quote:

Originally Posted by Bryan G

Or people could be responsible and save their own money via investments like RRSP's and Tax Free savings accounts?

Agreed, the average working joe is living paycheck to paycheck and can't afford it.especially in Vancouver where your mortgage or rent takes most of the paycheck.

poncabare · 06-23-2016, 07:05 AM

Quote:

Originally Posted by Bryan G

Or people could be responsible and save their own money via investments like RRSP's and Tax Free savings accounts?

But who would want to be a man and be responsible for himself?

CDSmith · 06-23-2016, 08:19 AM

Anyone who thinks that government old age pension is going to do it for them has their head in the sand.

Paul Markham · 06-23-2016, 08:25 AM

In the good years I put away a large chunk, so in the lean years I had some reserves, in the very good years, we put a lot away.

In 2008 most of you know the shit hit the fan for both of us and we didn't work for 3-4 years. Living off some of those reserves.

Now I'm 99% retired and living off my pensions and will never have to work or worry again.

JamesM83 · 06-23-2016, 09:41 PM

This is an interesting thing to read about especially considering the fact I'm canadian and I know we're the most educated country in the world (on some basis) and our current generation of workers are working far past their 50s.

Phoenix · 06-24-2016, 04:42 AM

Quote:

Originally Posted by JamesM83

This is an interesting thing to read about especially considering the fact I'm canadian and I know we're the most educated country in the world (on some basis) and our current generation of workers are working far past their 50s.

Depending on who you check with we are a lot further down the education line than you might expect.

JFK · 06-24-2016, 07:05 AM

Quote:

Originally Posted by Spunky

Something has to be done to help the future retirees. There won't be enough

thats because the fucking politicians squandered ever cent they ever took in for the pogram

06-22-2016, 01:48 PM	#1
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 76,899	Canada Pension Plan will replace roughly 30% of a worker's earnings in retirement The Canada Pension Plan will soon start collecting more of your money to provide support later in retirement, after the federal government and most of the provinces hashed out an enhancement plan Monday. Depending on whom you ask, the hike is either a much-needed shot in the arm for middle-income retirees or another blow to the bottom line for businesses. What the CPP boost means for the average Canadian worker - Politics - CBC News __________________ TRUMP 2025 KEKAW!!! - Support The Laken Riley Act!!! END DACA - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

06-22-2016, 02:09 PM	#2
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,919	Something has to be done to help the future retirees. There won't be enough __________________ *Skype : Spunky GFY*

06-23-2016, 08:19 AM	#10
CDSmith Too lazy to set a custom title Industry Role: Join Date: May 2001 Location: My network is hosted at TECHIEMEDIA.net ...Wait, you meant where am I located at? Oh... okay, I'm in Winnipeg, Canada. Oops. :) Posts: 51,460	Anyone who thinks that government old age pension is going to do it for them has their head in the sand. __________________ *Promote Wildmatch, ImLive, Sexier.com, and more!!* ALWAYS THE HIGHEST PAYOUTS: Big Bux/ImLive SIGNUP ON NOW!!! Put some PUSSYCA$H in your pocket. ICQ me at: 31024634

06-23-2016, 08:25 AM	#11
Paul Markham Too old to care Industry Role: Join Date: Jun 2001 Location: On the sofa, watching TV or doing my jigsaws. Posts: 52,943	In the good years I put away a large chunk, so in the lean years I had some reserves, in the very good years, we put a lot away. In 2008 most of you know the shit hit the fan for both of us and we didn't work for 3-4 years. Living off some of those reserves. Now I'm 99% retired and living off my pensions and will never have to work or worry again. __________________ Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500. PM me for a deal. Skype Paulmarkham70

06-22-2016, 03:05 PM	#3
Hannes Confirmed User Industry Role: Join Date: May 2016 Posts: 1,594	its not a bd amount, but the cost of living is fairly high. you'll need more money than the 30% you're given

06-23-2016, 09:41 PM	#12
JamesM83 Confirmed User Industry Role: Join Date: May 2016 Location: Montreal, Canada Posts: 334	This is an interesting thing to read about especially considering the fact I'm canadian and I know we're the most educated country in the world (on some basis) and our current generation of workers are working far past their 50s.