CPP Is Here To Stay

 We’ve all seen the doom and gloom reports that with an aging population – that’s a lot of us – the Canada Pension Plan is in trouble. With fewer workers per capita contributing to the retirement fund, the thinking goes, CPP is an unsustainable Ponzi scheme.

Turns out, that concept is 20 years behind reality. Changes to the system over the last couple of decades suggest that the scheme will be in the black until 2090, and we all know that by that time, the robot overlords won't let us starve. Even taking into account the financial uncertainties introduced by Covid,  CPP appears quite healthy.

Oddly, despite easily-accesible information to the contrary, 64% of Canadians think CPP won’t be around when they retire, a belief which isn’t backed up by reality. (Here’s an older article about that very thing. And how do we know it’s an older - but still valid - article? How about the use of the phrase ‘CEO Machin’? Hmmm- wasn’t he the guy….?)

So stop being lazy, people. Read up, be thankful we live in a society that actually walks the walk on taking care of its citizens, and rest more easily about CPP.