Comments on: Major Changes Coming to the Canada Pension Plan http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/ Helping you invest and prosper Sat, 13 Mar 2010 15:16:45 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: D Smith http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-212959 D Smith Fri, 12 Mar 2010 02:54:17 +0000 http://www.canadiancapitalist.com/?p=2444#comment-212959 I have been collecting cpp for 9 months, but as cpp told once I have my 2 months with little or no income I can make as much as I want without penalty and still receive the cpp. My question is do I still have to pay CPP deductions when I am receiving the CPP cheque. Can I claim back the cpp deductions on my income tax for 2009? I have been collecting cpp for 9 months, but as cpp told once I have my 2 months with little or no income I can make as much as I want without penalty and still receive the cpp. My question is do I still have to pay CPP deductions when I am receiving the CPP cheque. Can I claim back the cpp deductions on my income tax for 2009?

]]> By: JoJo http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-210103 JoJo Tue, 02 Feb 2010 18:49:34 +0000 http://www.canadiancapitalist.com/?p=2444#comment-210103 I'm confused .... Why would my CPP contributions be averaged over years when I wasn't even a resident of Canada. I didn't live here, I didn't work here and I wasn't in any way shape or form present here. I probably didn't even think about being here at that point. When I had worked here for many years, then I dropped out off work to raise 2 children 6 years apart .... how would 15% or 6-8 years even begin to compensate me for the time out and time each child needed that I took from working and my career and not earning any income. Somehow I don't think our CPP system is very fair. Some countries would have paid me to stay home and look after my kids, but being young and starryed eye and in love with young Canada I wasn't thinking about pension plans back then .... of course, I am aware that there is no way that one could survive on $948 (if anyone actually gets that which I now doubt as I research the average CPP payments made is not even close to that in payouts by CPP dept. as I dont think too many Canadians actually contributed for 47 years( + $500 Old Age security if you quailify for that) per MONTH income in old age .... I'd like to see those bureacrats try to live on that themselves. THIS IS A JOKE. I now feel sorry for all those past pensioners ... no wonder most of them looked half starved, sad and shabby. Just out of curiosity I also surveyed the pension amounts pensioners get in related other western countries and WHAT a COINCIDENCE ... they all averaged approx. the same amount (price fixing for pensioners benefits I'd say) As I'm getting closer to retirement age ... I am NOW paying attention to all this crap that's been going on .... hurray for boomers ... boomers unite ... grey power. Theoretically, if and when we all obediently and with trust and naivety contributed our contributions to CPP, had the CPP dept. in their wisdom invested our contributions wisely and we earned accumulative daily interest .... I am sure our old age pensioners would not be out on the streets scraping through garbage cans to make ends meet. HOW SAD that some many people will now suffer the consequences ....I think some bureacratics from that era ... should be held liable .... banish the though eh ... as they bask in the sun in their well afforded pension lairs and riches. I’m confused …. Why would my CPP contributions be averaged over years when I wasn’t even a resident of Canada. I didn’t live here, I didn’t work here and I wasn’t
in any way shape or form present here. I probably didn’t even think about being
here at that point.

When I had worked here for many years, then I dropped out off work to raise 2 children 6 years apart …. how would 15% or 6-8 years even begin to compensate me for the time out and time each child needed that I took from working and my career and not earning any income.

Somehow I don’t think our CPP system is very fair. Some countries would have
paid me to stay home and look after my kids, but being young and starryed eye and in love with young Canada I wasn’t thinking about pension plans back then …. of course, I am aware that there is no way that one could survive on $948 (if anyone actually gets that which I now doubt as I research the average CPP payments made is not even close to that in payouts by CPP dept. as I dont think too many Canadians actually contributed for 47 years( + $500 Old Age security if you quailify for that) per MONTH income in old age …. I’d like to see those bureacrats try to live on that themselves. THIS IS A JOKE. I now feel sorry for all those past pensioners … no wonder most of them looked half starved, sad and shabby. Just out of curiosity I also surveyed the pension amounts pensioners get in related other western countries and WHAT a COINCIDENCE … they all averaged approx. the same amount (price fixing for pensioners benefits I’d say)

As I’m getting closer to retirement age … I am NOW paying attention to all this
crap that’s been going on …. hurray for boomers … boomers unite … grey power.

Theoretically, if and when we all obediently and with trust and naivety contributed our contributions to CPP, had the CPP dept. in their wisdom invested our contributions wisely and we earned accumulative daily interest …. I am sure our old age pensioners would not be out on the streets scraping through garbage cans to make ends meet. HOW SAD that some many people will now suffer the consequences ….I think some bureacratics from that era … should be held liable …. banish the though eh … as they bask in the sun in their well afforded pension lairs
and riches.

]]> By: Anjo http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-208724 Anjo Fri, 15 Jan 2010 19:41:19 +0000 http://www.canadiancapitalist.com/?p=2444#comment-208724 As a response to myself and if anyone else is interested, the legislation that included these changes (Bill C-51) was passed and received royal assent in Dec 2009. As a response to myself and if anyone else is interested, the legislation that included these changes (Bill C-51) was passed and received royal assent in Dec 2009.

]]> By: Anjo http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-208722 Anjo Fri, 15 Jan 2010 19:29:48 +0000 http://www.canadiancapitalist.com/?p=2444#comment-208722 Does anyone know if these changes were passed through legislation or has this been lost as part of the prorogation of parliament? Does anyone know if these changes were passed through legislation or has this been lost as part of the prorogation of parliament?

]]> By: John Newton http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-199001 John Newton Fri, 28 Aug 2009 00:04:45 +0000 http://www.canadiancapitalist.com/?p=2444#comment-199001 If an ex-spouse dies, the government steals her CPP. It does not go to the person who paid it for his entire life. Man do I ever hate the Canadian government. If an ex-spouse dies, the government steals her CPP. It does not go to the person who paid it for his entire life. Man do I ever hate the Canadian government.

]]> By: Edward Lee http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-193620 Edward Lee Wed, 17 Jun 2009 04:22:18 +0000 http://www.canadiancapitalist.com/?p=2444#comment-193620 I believe that the monthly payment would not be affected. If I am wong I apologize I believe that the monthly payment would not be affected. If I am wong I apologize

]]> By: Kathy http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-193615 Kathy Wed, 17 Jun 2009 03:27:22 +0000 http://www.canadiancapitalist.com/?p=2444#comment-193615 Could you tell me if I semi retire at 55 and get a part-time job can you stop paying into cpp. I have been paying the max cpp for a long time and getting a part-time job would that lower my monthly payment Could you tell me if I semi retire at 55 and get a part-time job can you stop paying into cpp. I have been paying the max cpp for a long time and getting a part-time job would that lower my monthly payment

]]> By: Eli http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-193095 Eli Mon, 08 Jun 2009 11:49:38 +0000 http://www.canadiancapitalist.com/?p=2444#comment-193095 What if I have been away from the country for 12 years. How does it count with the maximum of 8 drop-out years ? What if I have been away from the country for 12 years.
How does it count with the maximum of 8 drop-out years ?

]]> By: Edward Lee http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-192568 Edward Lee Sat, 30 May 2009 02:37:41 +0000 http://www.canadiancapitalist.com/?p=2444#comment-192568 well Now that I had to quit working to take cpp at 60 things will change.. Too bad for me well Now that I had to quit working to take cpp at 60 things will change..
Too bad for me

]]> By: Friday Links | The Canadian Finance Blog http://www.canadiancapitalist.com/major-changes-coming-to-the-canada-pension-plan/#comment-192517 Friday Links | The Canadian Finance Blog Fri, 29 May 2009 11:03:36 +0000 http://www.canadiancapitalist.com/?p=2444#comment-192517 [...] Canadian Capitalist looks at major changes coming to the Canada Pension Plan. [...] [...] Canadian Capitalist looks at major changes coming to the Canada Pension Plan. [...]

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