Topaz Posted February 27, 2011 Report Share Posted February 27, 2011 I didn't know about this plan the NDP has but I would like views on the plan. It seems its like the CPP and the max benefit would be between $600-700 monthly. Thoughts? http://ontariondp.com/en/wp-content/uploads/2010/01/Pension_backgrounder.pdf Quote Link to comment Share on other sites More sharing options...
Mr.Canada Posted February 28, 2011 Report Share Posted February 28, 2011 I didn't know about this plan the NDP has but I would like views on the plan. It seems its like the CPP and the max benefit would be between $600-700 monthly. Thoughts? http://ontariondp.com/en/wp-content/uploads/2010/01/Pension_backgrounder.pdf We simply cannot afford to pay any more. People need to take responsibility to do their own saving. I don't know why people want or expect government to fix all the problems in their lives. Quote Link to comment Share on other sites More sharing options...
Shwa Posted February 28, 2011 Report Share Posted February 28, 2011 I didn't know about this plan the NDP has but I would like views on the plan. It seems its like the CPP and the max benefit would be between $600-700 monthly. Thoughts? http://ontariondp.com/en/wp-content/uploads/2010/01/Pension_backgrounder.pdf Quebec has something similar do they not? The Québec Pension Plan Quote Link to comment Share on other sites More sharing options...
punked Posted March 1, 2011 Report Share Posted March 1, 2011 We simply cannot afford to pay any more. People need to take responsibility to do their own saving. I don't know why people want or expect government to fix all the problems in their lives. It is an opt in plan dummy. You want to pay more into CPP and have them take care of it you can. CPP has performed well and some may want to invest in it. Quote Link to comment Share on other sites More sharing options...
pfezziwig Posted March 4, 2011 Report Share Posted March 4, 2011 The NDP will do anything to increase the governments tax base, they can't get enough, let future generations face the public when they tell them they're bankrupt and cannot afford to pay out benefits they paid into. Quote Link to comment Share on other sites More sharing options...
Topaz Posted March 4, 2011 Author Report Share Posted March 4, 2011 We simply cannot afford to pay any more. People need to take responsibility to do their own saving. I don't know why people want or expect government to fix all the problems in their lives. What happens when people don't have benefits in the older life? They usually have to turn to welfare and who pays for that? YOU and me and everyone else so what is the difference? Sometimes its government policies that throw people into the situations they never thought they be in. Quote Link to comment Share on other sites More sharing options...
Mr.Canada Posted March 4, 2011 Report Share Posted March 4, 2011 What happens when people don't have benefits in the older life? They usually have to turn to welfare and who pays for that? YOU and me and everyone else so what is the difference? Sometimes its government policies that throw people into the situations they never thought they be in. People need to plan for their own retirement. OAS has never been enough to retire on and never will be. Stop depending on the government to fix every facet of your lives and take some personal responsibility. These socialists won't stop until the government is tucking them in at night. Quote Link to comment Share on other sites More sharing options...
segnosaur Posted March 7, 2011 Report Share Posted March 7, 2011 Quebec has something similar do they not? The Québec Pension Plan Minor note: I don't think this is quite the same thing. The Quebec Pension Plan is a replacement for the CPP. Quebec people pay into the QPP instead of the CPP. On the other hand, this proposed "Ontario Retirement Plan" appears to be an addition to the CPP. i.e. Ontario residents (those who don't have their own pension plans) would pay into both the CPP and the ORP. Quote Link to comment Share on other sites More sharing options...
segnosaur Posted March 7, 2011 Report Share Posted March 7, 2011 It is an opt in plan dummy. Actually, I think its actually an opt-out plan. People get enrolled automatically if their company doesn't offer a pension. They can withdraw from the plan if they want, but they have to be the ones to act to withdraw. You want to pay more into CPP and have them take care of it you can. CPP has performed well and some may want to invest in it. Yes it has performed well. But then, so have a lot of other investments. If you compare the performance of the CPP investment portfolio with the TSE over a 5 year stretch (I found the data for 2003-2008) and add the yearly returns, you get: CPP: 46% TSE: 56% (Note that this comparison isn't perfect, as each of these has a different year end date, but its a pretty good guide line since I incorporated multiple years.) So, if you want a 'good investment', you're better off to invest in a good indexed fund based on one of the stock exchanges. http://en.wikipedia.org/wiki/Canada_Pension_Plan#Performance http://www.canadianbusiness.com/my_money/investing/article.jsp?content=20070124_101555_4368&ref=related Quote Link to comment Share on other sites More sharing options...
.thumb.jpg.9a49e1b2f22a6d34a345152c50044aa9.jpg)
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.