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CPP increase will raise family costs by more than $2K: report

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Bruce SANSOM

Before this change, the combined employer and employee contributions add up to about 15% of payroll and the benefits are inadequate. Anyone paying 15% into his/her own plans would have an adequate nest egg for retirement. It is wrong and unfair to confiscate that nest egg upon death as the CPP does. The CPP should be a compulsory locked-in self-administered RRSP. The residual should pass to the survivor. The CPP is a scam.

Friday, Jan 12, 2018 at 7:43 pm Reply

Richard Duy

Yes, it sounds like a lot of money however, I will guarantee when these folks face Retirement age they will be very pleased that over the years they invested wisely in their Retirement.

Friday, Jan 12, 2018 at 6:54 pm Reply

Frank Wiginton

Ummm… CPP is not a tax. These are contributions to a pension that will pay them money in the future. The CPP ‘CONTRIBUTIONS’ are taken off your pay BEFORE income taxes are calculated to deducted from your pay cheque. Maybe greater clarity could be added to this article?

Thursday, Jan 11, 2018 at 3:10 pm Reply

George Li

You are paying for something that is not guaranteed to get back and it is mandatory, so it is like tax. I understand your point that CPP is deducted and tax credit is given, however, it reduces overall disposable income of the Canadian middle class, exactly the opposite of what Trudeau said before he was elected.

Wednesday, Feb 7, 2018 at 1:14 pm