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Seven Myths of CPP Expansion

Posted by on Nov 29, 2010 in Retirement | 0 comments

Greg Hurst has recently posted an interesting blog debunking what he regards as “Seven Myths of CPP Expansion.”

Myth 1: Canada’s pension system is insufficient for the delivery of adequate pension income

Myth 2: The CPP operates as a stand-alone program

Myth 3: Canadian state pensions programs (collectively CPP, Old Age Security and Guaranteed Income Supplement) are risk free and sustainable for at least the next 75 years

Myth 4: All Canadians get the same value for money on their CPP contributions

Myth 5: CPP administration is low cost

Myth 6: CPP is self-funded and does not impose a tax burden

Myth 7: Having all our pension eggs in the CPP basket would be a good thing

He concludes that Canadians should take pride in their pension system; it is truly among the best in the world. However he maintains  CPP expansion is not the answer to these needs, where other more targeted solutions can be deployed in a manner that preserves the stability and improves the integrity of the current system. READ MORE

Also see Financial Post

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