Who Died Before Collecting Their Government Pension?

[retired2]

Who Died Before Collecting Their Government Pension?



THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE CPP IS THAT THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A CPP CHEQUE!!!

WHERE DID THAT MONEY GO?

Remember, not only did you and I contribute to CPP but your employer did, too. It totalled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500. Read that again. Did you see where the Government paid in one single penny?

We are talking about the money you and your employer put in a Government bank to insure you and I that we would have a retirement cheque from the money we put in, not the Government. Now they are calling the money we put in an entitlement when we reach the age to take it back. If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the govt. pays on the money that it borrows), after 49 years of working you'd have $892,919.98.

If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.

Another thing with me.... I have two deceased husbands who died in their 50's, (one was 51 and the other one was 59 before one percent of their CPP could be drawn). I worked all my life and am drawing 100% from my own CPP so I am receiving the maximum allowable payment per month. My two deceased husband's CPP money will never have one cent drawn from what they paid into the CPP plan all their lives.


THE FOLKS IN OTTAWA HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.

Entitlement my foot, I paid cash for my CPP! Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout!!

Remember Senator's benefits? --- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days. Now that's welfare, and they have the nerve to call my CPP retirement payments entitlements?



They call CPP an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? It was supposed to be in a locked box, not part of the general fund.




PS- Do you ever hear them talk about running out of welfare money ? ? ? strange !

[Rick Wisson]

Good point.

[Ruby Tuesday]

Don't get me going!!!

I see they are introducing a new provincial type of CPP. If your employer doesn't offer a pension plan they will be putting towards this. Shocked to hear the stats of how many people save zero for retirement. That's the whole issue. Pretty bad when the gov't sees it and has to force the hand.

[Rick Wisson]

Don't get me going!!!

I see they are introducing a new provincial type of CPP.  If your employer doesn't offer a pension plan they will be putting towards this.  Shocked to hear the stats of how many people save zero for retirement.  That's the whole issue.  Pretty bad when the gov't sees it and has to force the hand.

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Tell us how you really feel.

[retired2]

How do you save for retirement when you make $11.00 and hour and have a wife and 4 kids to feed and raise. Just not going to happen

[Ruby Tuesday]

That's true, at that wage there's nothing left if you're supporting a family. I think that's what the new Provincial mandate is helping with, making a provision for savings.

Now, I could get into a discussion on people helping themselves by getting an education, finding additional ways to boost their basic income, etc.

Basically, you can take 2 similar people. One will find ways to make more money and grow themselves financially & the other will be happy with the status quo and not think about tomorrow. We see it all the time - people spending too much money and not thinking about the future. Then they lose their job or get laid off for a few months and they cry wolf. That frustrates me.

[retired2]

I agree with your thoughts but is it possible for everyone in a society to be in the same income level?
It would be nice but I don't think it is possible. We have to have the different levels. We need the workers at the fastfood places as well as upper management in companies. How would you pay them all at higher rate. Well thats enough deep thoughts for a Sunday

[Ruby Tuesday]

I agree, regardless, we will never all be equal in a financial sense.

It's just sometimes people could do more to help themselves, and the work ethic in society had definitely declined. It frustrates me sometimes, because I think people can do more for themselves and they don't always take the initiative to do so.

So we are talking about two different things perhaps, those that can't & those that can, yet chose not to. First group I agree with you on, and the second group I don't.

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