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  #11  
Old 03-30-2012, 02:13 PM
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Retirement/pensions were supposed to be for the last 5, maybe 10 years of your life. Now people are trying to retire with 20+ years left on this earth. It's a nice theory, but that's not really sustainable long term.

My parents (both with graduate degrees and investments) are expecting to retire around 70.
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  #12  
Old 03-30-2012, 02:21 PM
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Originally Posted by CaliTerp07 View Post
Retirement/pensions were supposed to be for the last 5, maybe 10 years of your life. Now people are trying to retire with 20+ years left on this earth. It's a nice theory, but that's not really sustainable long term.

My parents (both with graduate degrees and investments) are expecting to retire around 70.
Indeed. When Social Security was started, 65 years was older than the average life expectancy. If you made it long enough to get it, it would not be for long.

I don't want to get preachy.... So just insert my usual rant about Federal social welfare programs and the utter lie that they are. LOL
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  #13  
Old 03-30-2012, 02:29 PM
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Originally Posted by CaliTerp07 View Post
Retirement/pensions were supposed to be for the last 5, maybe 10 years of your life. Now people are trying to retire with 20+ years left on this earth. It's a nice theory, but that's not really sustainable long term.

My parents (both with graduate degrees and investments) are expecting to retire around 70.

I firmly believe it has more to do with bad management of other services, than a sudden increase in age.... In fact because of poor lifestyle choices there are predictions the average age is going to slide down fast soon...

I would have no issue if it were proven to be in fact about the CPP, but when I pay from my taxes, above and beyond my pension contributions, to support MILLIONS abusing our social services ( Have no problem with the small percentage who actually need it ) Then, YES I have a problem with it...

Call me a horrible, cruel, mean person but I firmly feel you should cut those services, and HARD before you mess with pensions we have paid into, a good chunk of our checks, our whole working life!!!

Maybe they are ( in fact I know they are ) two separate issues, but when I talk to someone who makes as much as people in good jobs here while on welfare, and are in their 20's and able bodied but tell me they won't go to work because they'll make less then... It becomes impossible for me to separate it...
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Old 03-30-2012, 02:40 PM
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Originally Posted by CaliTerp07 View Post
Retirement/pensions were supposed to be for the last 5, maybe 10 years of your life. Now people are trying to retire with 20+ years left on this earth. It's a nice theory, but that's not really sustainable long term.

My parents (both with graduate degrees and investments) are expecting to retire around 70.
This was the point I was trying to make you just said it better. Which is why having a seperate pension plan to go with the CPP is something that should be a priority.

LauraLeigh - It sounds like you are really angry about the social services programs then about Cpp. I think Social Services needs to be set up differently. BUT I do disagree that only a small percentage of the people on it actually need it. I would think it would be closer to 50% or more that are honestly on it. But it is also set up that when honest people have to use it then it is almost impossible to get off of it for many reasons. Do people abuse it? Yup. But the people I know that have had to use it all say the same thing. They make it almost imposible to get a job and get off it.
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  #15  
Old 03-30-2012, 02:41 PM
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CPP question.

Is it really a "pension", or is it like SS in the States? Here SS is, well, a Ponzi scheme. The people drawing on it are funded by the people currently working. The people currently working (and funding) SS, HOPE, that the next generation will be there to support them.

See the fatal flaw? Take the modern entitlement mentality and combine it with a very, VERY liberal idea as to what a "need" is... You get the current, unsustainable mess.

Laura, you are very right to be upset. We all should be.
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  #16  
Old 03-30-2012, 02:45 PM
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Originally Posted by Puckstop31 View Post
Indeed. When Social Security was started, 65 years was older than the average life expectancy. If you made it long enough to get it, it would not be for long.

I don't want to get preachy.... So just insert my usual rant about Federal social welfare programs and the utter lie that they are. LOL

When did SS start there?

CPP is not terribly old, John never paid in until he was older because it did not exsist when he was younger...

Just looked and yes, statistically women live 7 years longer and men 8 years verses in 1966 when the CPP plan was instituted, however our contribution rate has increased a lot since 1966 as well....

I don't know, I get that part of it (Longer life means more expensive)

It's the fact that so many other services are so seriously abused, it makes me want to just scream, clean that up before you mess with pensions!!!

Maybe I just can't be objective LOL
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Old 03-30-2012, 02:54 PM
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Originally Posted by Puckstop31 View Post
CPP question.

Is it really a "pension", or is it like SS in the States? Here SS is, well, a Ponzi scheme. The people drawing on it are funded by the people currently working. The people currently working (and funding) SS, HOPE, that the next generation will be there to support them.

See the fatal flaw? Take the modern entitlement mentality and combine it with a very, VERY liberal idea as to what a "need" is... You get the current, unsustainable mess.

Laura, you are very right to be upset. We all should be.
I think it's similar I guess... I admit to not understanding it fully
Quote:
The Canada Pension Plan or CPP is a contributory, earnings-related social insurance program. It provides benefits to contributors on retirement, disability and death. The CPP applies throughout Canada except in Québec where a similar program, the Québec Pension Plan (or QPP), is in force. The two programs are coordinated under agreements between the two governments.

The program covers virtually all employed and self-employed persons in Canada (except in Québec where the QPP applies) who are between the ages of 18 and 70 and who earn more than a minimum level of earnings in a calendar year.

The CPP is financed through contributions from employees, employers and self-employed persons, as well as investment earnings from the Canada Pension Plan Fund. Starting in 1998, a new CPP Investment Board will invest all new contributions in capital markets to achieve a better return. Human Resources Development Canada administers the Canada Pension Plan through a network of Human Resource Centers of Canada located in principal cities and towns across the country.
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  #18  
Old 03-30-2012, 03:10 PM
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Originally Posted by LauraLeigh View Post
I think it's similar I guess... I admit to not understanding it fully.

"The CPP is financed through contributions from employees, employers and self-employed persons, as well as investment earnings from the Canada Pension Plan Fund. Starting in 1998, a new CPP Investment Board will invest all new contributions in capital markets to achieve a better return. Human Resources Development Canada administers the Canada Pension Plan through a network of Human Resource Centers of Canada located in principal cities and towns across the country. "

SS was established in 1935.

Well looky there! Its NOT a true Pozi scheme like our SS is. They actually invest the money in the market. These days, I would not put it in the market, but into some kind of physical investment, but still... Thats a LOT better than we have it. Our morons already spent the money sent to the SS fund, the SS "fund" is full of IOU's. Certain politicians and their minions think that is OK because, "it's money we owe ourselves". Give me a physical break. LOL

A few years back, there was an effort to give US Citizens the OPTION to invest a portion of their SS witholdings in the market. One side of the aisle screamed foul!!! How dare the "people" decide what to do with their OWN money.

It all goes back to my orginal quote in this thread.
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  #19  
Old 03-30-2012, 03:18 PM
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Had this as an edit, decided to make a new post do it would not get lost...

Nicole,

And we'll have to agree to disagree that 50% on the system truly need it...

Hub and I were married at 17/18 and had two babies by 18/19...

We struggled, we searched under cushions for milk money, we did menial jobs for little pay to supplement our income, we lived in a 600 square foot home with two kids that we owned, because it was what we could afford to own and heat...

We dug, scratched and clawed our way to a better life... Never once doing what so many others in our position did, turn to the government for help....

We are not special, anyone able bodied, willing to work **** hard and be poor as hell for a while could do the same...

Was it easy? While watching others get more money, more benefits, and far better housing on the government dime? Not at all...

Was it worth it? Hell yes!!!
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  #20  
Old 03-30-2012, 03:27 PM
Psyfalcon Psyfalcon is offline
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Quote:
Originally Posted by Puckstop31 View Post
CPP question.

Is it really a "pension", or is it like SS in the States? Here SS is, well, a Ponzi scheme. The people drawing on it are funded by the people currently working. The people currently working (and funding) SS, HOPE, that the next generation will be there to support them.

See the fatal flaw? Take the modern entitlement mentality and combine it with a very, VERY liberal idea as to what a "need" is... You get the current, unsustainable mess.

Laura, you are very right to be upset. We all should be.
Just because you don't like it does not mean its a scam. A Ponzi scheme is a scam. Everything here is spelled out in excruciating detail.

Its funded for quite some time, though it will have issues if the population starts dropping. We can counter that with immigration if so many people would stop crying about that.

"The amount of the monthly benefit to which the worker is entitled depends upon that earnings record and upon the age at which the retiree chooses to begin receiving benefits. "

You get back, what you pay in, I can't see how some mythical entitlement mentality is going to change that.
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