Posted on: 27-09-04 11:24:12
Dear all,
I got one mail from CPP (Canada Pension Plan) showing my balance in CPP fund.
In backside of printed mail, there is one paragraph:
"
Truth versus fiction
You might have heard that there may not be much money left in the CPP when it comes time for you to collect. NOT TRUE ! What you pay into the plan is matched by your employer (or, if you are self-employed, your company) and is invested to ensure that the funds in the plan continue to grow. Recent actuarial reports show that the CPP will be financially sound for the next 75 years. "
Any comment please !
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Kap
So they know what people are talking about!!
It is not easy to comment, but the way government is taking away one by one benefits from its citizen, the picture might not be that good for our retirement!
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A Proud Indian Canadian
That is why I consider CPP contribution as part of non-refundable tax rather than retirement fund contribution - and if ever I get anything out of it, I will treat it as bonus during those years!
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Quote:
Orginally posted by chandresh
That is why I consider CPP contribution as part of non-refundable tax rather than retirement fund contribution - and if ever I get anything out of it, I will treat it as bonus during those years!
Chandresh
Just got my hands on a set of CPP's financial statements on the internet. They had about $52b in net assets at the end of their fiscal 2001-02 (haven't been able to find more current figures).
Does not look bad.............
http://dsp-psd.pwgsc.gc.ca/Collection/RH41-1-2002E.pdf
That's the link to the 2001-02 financial statements for the CPP.
