DISCUSSIONS: 5 – (MAY 19) CPP: Is Ottawa guilty of theft?

A man’s daughter died this year at the age of 34. When he inquired about her CPP he was told that because she was not married and had no children, the money now belonged to the government.

Nobody else was entitled to it.

The history of CPP
When the CPP established by the government in 1965, it was meant to assist people that did not have a pension.

Employees put in a percentage and employers doubled the employees’ input. There is no money in the CPP from the government of Canada.

For a fee from the pool, the government was supposed to make the pool grow. We as Canadians are getting less than half of what that pool should be paying out every month. We are being cheated out of something that is legally ours, not the governments’.

Maybe this should be investigated by the supreme court.

Do the math
The contributions:
Remember you and by your employer made the CPP contributions. The government had nothing to do with it in terms of contributing.

CPP accounted for 15% of your income before taxes. If you averaged only $30K over your working life (say 45 years), that’s $202,500. You contributed all that money. The Government’s contribution, nothing! Not one old penny!

The INTEREST
We are talking about the money you and your employer deposited into a Government bank to insure that we would have a retirement cheque from the money we put in. The Government had no ties with this deposited money.

The calculated future invested value of  $4,500 per year (your and your employer’s  contributions) at a simple 5% interest, after 49 years the accrued sum would be close to $900,000. Yes, nearly a million dollars.

The SCHEME
If you withdrew out only 3% yearly, about $26,000 per year, the money would last for more 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 just over $2,900 per month.

The ENTITLEMENT
Ottawa keeps calling 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.

Something is drastically wrong with this picture. Why does the government keep using CPP as their general piggy bank? This is our money they are using.

Ottawa keeps referring to CPP income as an ENTITLEMENT. We paid for it. It is our money they are using with no return for its use.

The conclusion:
Think about senator entitlements we pay for: — free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days. Now that’s welfare, welfare paid at our expense.

Furthermore, the latest estimate (as per Global News) is that it is going to cost SIX HUNDRED MILLION ($600,000,000) to bring in the 25,000 refugees.  The government (according to the Public Accounts office) is already FIVE BILLION in the hole.  How much more will they take from our CPP to cover this expense?  The Immigration Minister, John McCallum, in a recent Global interview, said that he was presenting his plan to Cabinet shortly.  He could not be pinned down as to the final cost.   Will they write a blank cheque out of our CPP?

The new philosophy is refugees 1st, Canadians last. Let’s not turn this issue into a misleading one. We aren’t denying assistance to refugees. What we question is how the government is managing money which is ours in the first place. This is beginning to feel like a legislated crime of theft.

Who’s wearing the thief’s mask?

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