this is nothing more than a tax on the young and middle aged people who are working to pay into a ponzi scheme called CPP for retiring baby boomers. there will be noting left when it comes time for the working class to retire.
i have a suggestion, tax less and that will enable people save for their own retirement. Also end the public sector gold plated pensions which are a racket that workers in the private sector with no pension are forced to pay.
I assume the funds will be parked in 'safe' govt bonds that compound until a person retires. But there's 1 problem. Govts tend to publish fake inflation stats to understate the real rate of inflation. This is on account of the Bank of Canada which robs producers and reward banks through money printing.
Money invested in govt bonds consequently loses value at a faster rate than interest paid. Younger workers may end up holding the bag when their time comes to retire.
this is nothing more than a tax on the young and middle aged people who are working to pay into a ponzi scheme called CPP for retiring baby boomers. there will be noting left when it comes time for the working class to retire.
i have a suggestion, tax less and that will enable people save for their own retirement. Also end the public sector gold plated pensions which are a racket that workers in the private sector with no pension are forced to pay.
orangedac 1 year ago
@orangedac canadianlabour.ca/action-center/retirement-security-everyone/fact-sheets
canadianlabour 1 year ago
@canadianlabour
I assume the funds will be parked in 'safe' govt bonds that compound until a person retires. But there's 1 problem. Govts tend to publish fake inflation stats to understate the real rate of inflation. This is on account of the Bank of Canada which robs producers and reward banks through money printing.
Money invested in govt bonds consequently loses value at a faster rate than interest paid. Younger workers may end up holding the bag when their time comes to retire.
orangedac 1 year ago