Posts: 2873
Location: Western Hemisphere
Posted on: 16-03-06 20:04:08
Location: Western Hemisphere
Posted on: 16-03-06 20:04:08
I hope no one is living or planning to live in Canada with the hopes of Social Security when they retire. I wouldn't bank on any social system (health care, pensions, etc) to be in its current form or even solvent in the next 20 to 40 years.
-----------------------------------------------------------------
Dimple2001
Posts: 1920
Location: British Columbia
Posted on: 16-03-06 20:25:53
Location: British Columbia
Posted on: 16-03-06 20:25:53
Quote:
Originally posted by dimple2001
I hope no one is living or planning to live in Canada with the hopes of Social Security when they retire. I wouldn't bank on any social system (health care, pensions, etc) to be in its current form or even solvent in the next 20 to 40 years.
Interesting that you say that. I have heard this comment for the past 15 years and I know that CPP pension contributions havent been reduced..so why will benefits be reduced upon retirement? The only reason I can think of is that there will be a large # of people retiring when I retire. and smaller population to pay my pension???
-----------------------------------------------------------------
~ Morning rain
Posts: 2873
Location: Western Hemisphere
Posted on: 16-03-06 21:32:28
Location: Western Hemisphere
Posted on: 16-03-06 21:32:28
Quote:
Originally posted by morning_rain
Interesting that you say that. I have heard this comment for the past 15 years and I know that CPP pension contributions havent been reduced..so why will benefits be reduced upon retirement? The only reason I can think of is that there will be a large # of people retiring when I retire. and smaller population to pay my pension???
Yep, that's exactly what could happen. I would rephrase your statement to say, a "smaller contributing population" to pay in to the pension pool.
One way to offset that reduction in the funds would be to begin CPP eligibility at a higher retirement age. Not a good option either.
-----------------------------------------------------------------
Dimple2001
Another potential problem is that you may not have
a place to live or in the worst homeless shelter full of
criminals if you are on social assistance. Pl. correct me
if I wrong as I am relying on the heresay in US where
I am living presently.
