July 21, 2015

CPP: Most Canadians can save for retirement on their own -- and are better off doing so

Brian LilleyArchive

Everyone wants to be comfortable in their golden years but is raising CPP premiums or introducing another pension plan in Ontario the way for Canadians to achieve this?

I've been expressing doubts about the government's ability to tell us the best way for Canadians to save for retirement and now a recently released report from the Fraser Institute confirms those doubts. I take a look at the report which should have us all wondering why politicians don't trust the wisdom of the common man and demanding an answer before we go to the polls on October 19th. 

 

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Comments
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commented 2015-07-23 22:03:32 -0400
As far as the ORPP that’s being tabled, it’s another major bonehead move. Let me breakdown my analysis in a nutshell:

1. Our money that gets paid into the ORPP is not very likely to be returned, as when the provincial deficit increases (and you know it will), it’s going to be used to offset some of the difference.

2. Once that money is gone, our future is pretty much written. We won’t have one.

3. As soon as the money disappears, businesses large and small will leave and leave us economically destroyed.

So, Premier Wynne has put the screws to us once again, and will continue to do so until her agenda is fulfilled and we are killing each other over dumpster scraps.
commented 2015-07-22 13:31:00 -0400
That’s the other thing Eileen, to Wynne it’s just another revenue stream for her. It’s meant to be carefully invested for the future, not be a line of credit for Ontario Liberals. It will be used and abused. May as well flush it down the toilet. Robbery basically.
commented 2015-07-22 10:58:43 -0400
Do you think “Wind-up Wynne” is getting the message? People of Ontario/Canada CANNOT afford further payroll deductions! And what does “Winnie-the-Pooh” plan to do with the new “made in Ontario” pension plan money? Will it be there for the 20 something’s in 40 years’ time? Those are questions people of Ontario MUST ask!
commented 2015-07-22 07:22:12 -0400
Ontario’s provincial debt is 0.3 TRILLION DOLLARS – thanks for doing the PIG WYNNE!!

When Ontario defaults, it’s going to get very ugly – businesses head offices will be moving out of Ontario.

This is the elephant in the living room – you should be spending more time on this real matter Brian.
commented 2015-07-21 23:53:03 -0400
When I was self employed I opted out as well, now that I am not I don’t need any more taken out of my paycheck, for the government to hold. Thanks but no thanks. Any provincial leader who thinks people or employers will put up with raised deductions is crazy. As long as Harper gets back in we won’t have to worry about a PM making such a move nationally. It will really hobble anyone who has employees.
commented 2015-07-21 22:38:58 -0400
Me too prince. Everyone knows cpp is designed to pay MPs pension after 4years of service. $80000 /yr tax free for life.
commented 2015-07-21 20:09:56 -0400
As a self-employed entrepreneur, I have the ability to opt out of CPP and EI — and have done so. I have more tax deductions than I know what to do with as it is…