[ASLplease]

I would like the ability to opt out of CPP premiums by investing in an alternative plan this is not managed by politicians. I think this is reasonable.

[OnTheIce]

Lemmy Lemmy:

Strutz Strutz:

OnTheIce OnTheIce:

We should change our curriculum in schools to mandate mandatory classes in financial management and investing. A more debt wise and investment savy society will be the finial product

This is a good suggestion actually. Not all kids have parents to teach them these life skills, in fact some parents could learn something from their kids.

I'm not sure this would work. Teenagers don't much care what their teachers tell them. The smart kids and the diligent students will, sure, but those kids are likely to learn good money management anyway. The dumb kids aren't going to retain any more about financial planning than they are about Shakespeare or geometry.

How about we stop pandering to those of us that are either too dumb or don't give a shit? Shut down the CPP and let people keep some of their 'hard-earned'. If some people don't feel the need to prepare for their old-age, fine. But stop robbing my paycheque to fund other peoples' retirements and let me make my own invstment choices.

Surely not all the kids will retain each and every thing they learn about finances but even the basics is far and above what most kids know. Kids in general like the topic of money and are interested in the subject.

It's easy for someone like you to say scrap the CPP, but it's not likely to happen nor would it be wise just to dump a whole bunch of people off CPP and onto the streets.

[ASLplease]

I grew up with people telling me that I'll never collect from CPP. I could care less if it gets scrapped. I just want a way to avoid paying premiums.

[Lemmy]

OnTheIce OnTheIce:

Surely not all the kids will retain each and every thing they learn about finances but even the basics is far and above what most kids know. Kids in general like the topic of money and are interested in the subject.

Maybe. We teach not to smoke.

OnTheIce OnTheIce:

It's easy for someone like you to say scrap the CPP, but it's not likely to happen nor would it be wise just to dump a whole bunch of people off CPP and onto the streets.

I wouldn't throw anyone on the streets. I'd grandfather it. Payouts would be made to everyone who's already paid into it. And you're right. It IS easy for me to say "scrap it". It's easy for me because I know I'm a shitty spot in the Ponzi scheme. I've paid in but won't see a nickel out. It's also easy because I do without a lot of things my income would allow because I pay into a pension plan.

[ASLplease]

you do without a lot because you spend a thousand per year on CPP?

[OnTheIce]

Lemmy Lemmy:

Maybe. We teach not to smoke.

And smoking rates are way down since the beginning of the national anti-smoking campaigns, increased education, etc.

Lemmy Lemmy:

It's also easy because I do without a lot of things my income would allow because I pay into a pension plan.

Perhaps more of an exaggeration to make your point.

[ASLplease]

OnTheIce OnTheIce:

dump a bunch of people off CPP and onto the streets.

Why not? They are already promising to do that to me.

[Lemmy]

OnTheIce OnTheIce:

And smoking rates are way down since the beginning of the national anti-smoking campaigns, increased education, etc.

Among the smart kids, the ones that will be smart enough to save for retirement. We're not concerned about their retirements. We're worried about the dumb kids; the ones that are smoking RIGHT now.

OnTheIce OnTheIce:

Perhaps more of an exaggeration to make your point.

You wouldn't say that if you saw how much gets deducted from my salary. It's in the 15% pa range and I make six figures.

[ASLplease]

there is a cap on CPP premiums

[Lemmy]

I'm not talking about the CPP, I'm talking about my pension. Try to follow along.

[OnTheIce]

Lemmy Lemmy:

I'm not talking about the CPP, I'm talking about my pension. Try to follow along.

So why should we care if you're "going without" because you opt or your place of employment is opting to take 15% of your salary for a pension?

This is a topic about CPP, not about your personal pension plan. So don't get all pissy when someone makes the assumption you're talking about the subject of this post.

[ASLplease]

Lemmy Lemmy:

I'm not talking about the CPP, I'm talking about my pension. Try to follow along.

Good for you if you are contributing 15%.

But please clarify something, are we supposed to feel sorry for you?

[Donny_Brasco]

To put it simply:

Since May 30 last year the TSX lost about 28%.

The CPP lost 18.6%.

So hiring and maintaining these people saved us about 10% or $12Billion.

I think $8.5 million is peanuts compared to that.

The stock market "fluctuates" - their job is to minimize losses and maximize returns. Seems like they've done a pretty reasonable job to me.

Good job CPP executives.

Again, this is a simple explaination, but if any of you could do a better job please tell us how.

[ASLplease]

regardless of how good of a job they did, the plan is to shaft me when I retire, so should I care about the bonuses?

[Lemmy]

OnTheIce OnTheIce:

So why should we care if you're "going without" because you opt or your place of employment is opting to take 15% of your salary for a pension?

This is a topic about CPP, not about your personal pension plan. So don't get all pissy when someone makes the assumption you're talking about the subject of this post.

I'm not asking anyone to feel sorry for me. I'm only saying that I give up a lot of dough to fund my retirement. If others don't, that's their choice.

And I think if my posts were clear whether I was talking about the CPP or other pensions, which I believe IS relevant to this debate, as private pensions are an option and an alternative.