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11-05-2016, 05:47 AM
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Join Date: May 2007
Location: Westlock
Posts: 5,533
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New Liberal CPP tax
Got a flyer in the mail along with a "vote" ballet (sp?) from the cons.
Says if you make 30k a year , you'll pay an extra $215.00/yr
60k and pay $565.00/yr extra
High earners (nearly) $1,100.00/yr extra.
Not happy ! 
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11-05-2016, 06:08 AM
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Banned
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Join Date: May 2007
Posts: 17,790
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At the turn of the millennium, when the CPP first started investing in public markets, it was a comparatively lean operation. Constrained to invest “passively,” that is, in a way that mimics the broad market indices, the CPP Investment Board had just five staff in its first year; its chief executive was paid just $200,000.
But in the years since then it slipped its “passive” leash, allowing it to pursue an “active” management strategy. Staffing levels now exceed 1,000, while the average compensation in the executive suite exceeds $3 million.
And the result? About the same as you’d expect for any actively managed fund: in any given year, the fund is as likely to underperform its benchmark “reference portfolio” as it is to outperform. Andrew Coyne NP (May 27, 2015)
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11-05-2016, 07:10 AM
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Join Date: Apr 2013
Location: Half Moon Lake ( North )
Posts: 1,454
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A complete misuse of our money, just like our tax money. CPP should have been something that a person does at there own bank like a RRSP, but it's mandatory that so much of your wage goes in and you can't take it till a set age. Trusting the government with our money is like putting it in a slot machine you might get it back or you might not.
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11-05-2016, 07:30 AM
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Join Date: Jul 2009
Location: Lacombe, AB
Posts: 1,404
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Quote:
Originally Posted by curtz
A complete misuse of our money, just like our tax money. CPP should have been something that a person does at there own bank like a RRSP, but it's mandatory that so much of your wage goes in and you can't take it till a set age. Trusting the government with our money is like putting it in a slot machine you might get it back or you might not.
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The boomers will get their money back, by the time they are gone the fund will be tapped out and all those younger generations that have contributed will be left with nothing. Wish there was an option to opt out or some sort of RRSP matching option.
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11-05-2016, 12:30 PM
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Join Date: Jun 2014
Location: Canmore
Posts: 2,106
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Quote:
Originally Posted by sillyak
The boomers will get their money back, by the time they are gone the fund will be tapped out and all those younger generations that have contributed will be left with nothing. Wish there was an option to opt out or some sort of RRSP matching option.
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Looking forward to getting my first cheque at the end of Nov. Never thought I would see the day. I've worked all my life and along with my employers have paid into CPP on every paycheque so hell yes I'm entitled to reap the benefit.
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Woke up with a pulse, best day ever
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11-05-2016, 12:55 PM
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Banned
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Join Date: Dec 2009
Location: Copperhead Road, Morinville
Posts: 19,290
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I have a year before I hit 60 and can start receiving CPP at a reduced rate. My Military pension is my only other source of income but I'm not sure if CPP comes off of it. Just wondering......Once you start receiving CPP do you still have to pay into it? Maybe only if you have a real job?
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11-05-2016, 01:06 PM
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Join Date: Dec 2015
Posts: 368
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Quote:
Originally Posted by HunterDave
I have a year before I hit 60 and can start receiving CPP at a reduced rate. My Military pension is my only other source of income but I'm not sure if CPP comes off of it. Just wondering......Once you start receiving CPP do you still have to pay into it? Maybe only if you have a real job?
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At 65 you will not receive as much CPP as you have a government of Canada pension already. Dumb I know, but true.
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11-05-2016, 01:12 PM
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Banned
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Join Date: Dec 2009
Location: Copperhead Road, Morinville
Posts: 19,290
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Quote:
Originally Posted by Twist
At 65 you will not receive as much CPP as you have a government of Canada pension already. Dumb I know, but true.
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That is due to the CPP clawback that a lot of Veterans don't understand and get ticked off about. Our Military pensions are bridged and I get an extra +$500 per month on my Military pension up until the age of 65 and then I lose it. In reality I get to double dip for 5 years with the bridged amount plus CPP if I take it at a reduced amount at age 60. That goes without saying how much extra I get every month from the time that I retire up until then. I understand it and am very happy with it.
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11-05-2016, 02:41 PM
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Join Date: Feb 2010
Location: Quesnel BC Canada
Posts: 5,603
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Quote:
Originally Posted by Reeves1
Got a flyer in the mail along with a "vote" ballet (sp?) from the cons.
Says if you make 30k a year , you'll pay an extra $215.00/yr
60k and pay $565.00/yr extra
High earners (nearly) $1,100.00/yr extra.
Not happy ! |
What a great way to make sure the plan keeps growing, the other option is to not let you collect till you are older. Liberals say put more money in, Cons say work more years before you can collect....6 of one, half a dozen of the other.  Does the extra the libs want also mean the employer pays more too?
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11-05-2016, 02:45 PM
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Join Date: Mar 2012
Posts: 1,920
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Quote:
Originally Posted by Reeves1
Got a flyer in the mail along with a "vote" ballet (sp?) from the cons.
Says if you make 30k a year , you'll pay an extra $215.00/yr
60k and pay $565.00/yr extra
High earners (nearly) $1,100.00/yr extra.
Not happy ! |
They get you coming or going what is a person to do . 
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11-05-2016, 05:48 PM
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Join Date: Jul 2011
Location: Ft. McMurray, Ab.
Posts: 135
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Do you know why the increase?
Justin last June went to Mumbi ,Indiato a housing symposium, he gave 2.3 billion dollars from the CCP fund to help with housing in India, such a kind scoundrel, but at that same time he would only match funds maybe with the Red Cross to help people from the McMurray fires !! And he got great selfies and photo ops! Wow!!!
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11-05-2016, 05:51 PM
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Join Date: Nov 2008
Posts: 11,373
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Quote:
Originally Posted by sdvc
Justin last June went to Mumbi ,Indiato a housing symposium, he gave 2.3 billion dollars from the CCP fund to help with housing in India, such a kind scoundrel, but at that same time he would only match funds maybe with the Red Cross to help people from the McMurray fires !! And he got great selfies and photo ops! Wow!!!
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Got a link for that, I'd like to read it.
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”
Thomas Sowell
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11-05-2016, 06:27 PM
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Join Date: Jul 2011
Location: Ft. McMurray, Ab.
Posts: 135
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link
CBC has edited out it goes from Feb articles to June go figure nothing like deleting unsavory news ie truth
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11-05-2016, 06:39 PM
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Join Date: Nov 2008
Posts: 11,373
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Quote:
Originally Posted by sdvc
CBC has edited out it goes from Feb articles to June go figure nothing like deleting unsavory news ie truth
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http://www.cbc.ca/news/business/cana...sing-1.3299154
Big difference between giving and investing.
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”
Thomas Sowell
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11-05-2016, 06:44 PM
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Join Date: May 2008
Location: Bonnyville Alberta
Posts: 2,355
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All that this Liberal BS accomplishes is to act as a disincentive to work hard and earn more.
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11-05-2016, 06:56 PM
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Join Date: Jul 2011
Location: Ft. McMurray, Ab.
Posts: 135
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yep
Nice Piker, i guess we are really going to get returns from this......REALLY?
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11-05-2016, 06:59 PM
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Join Date: Nov 2008
Posts: 11,373
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Quote:
Originally Posted by sdvc
Nice Piker, i guess we are really going to get returns from this......REALLY?
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Right now real estate is about the only big returner. The feds have been involved in it for a while.
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”
Thomas Sowell
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11-05-2016, 08:51 PM
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Join Date: Feb 2013
Location: Carvel
Posts: 127
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Quote:
Originally Posted by Reeves1
Got a flyer in the mail along with a "vote" ballet (sp?) from the cons.
Says if you make 30k a year , you'll pay an extra $215.00/yr
60k and pay $565.00/yr extra
High earners (nearly) $1,100.00/yr extra.
Not happy ! |
Your information is wrong, the high earners rate would bankrupt businesses, as CPP is matched by the employer.
— Increasing premiums on employers and employees by one per cent, meaning an extra $408 a year coming off paycheques.
— Increased premiums will be phased in over seven years, starting in 2019.
The big changes in CPP is that it’s to help bail out public pension plans that are unsustainable. 
Sent from my iPhone using Tapatalk
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11-05-2016, 09:11 PM
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Join Date: Feb 2013
Location: Carvel
Posts: 127
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Quote:
Originally Posted by CanuckShooter
What a great way to make sure the plan keeps growing, the other option is to not let you collect till you are older. Liberals say put more money in, Cons say work more years before you can collect....6 of one, half a dozen of the other. Does the extra the libs want also mean the employer pays more too? |
The conservatives never changed the retirement age for CPP, it was raised to 67 for the OAS old age security plan. You would have still been able to retire and collect CPP at 60-65 . When you pay more CPP to the government so will your employer, its matched dollar for dollar. And I doubt the liberal government will grow the plan, not the way they spend $$$.
Sent from my iPhone using Tapatalk
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11-05-2016, 09:22 PM
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Banned
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Join Date: Mar 2009
Posts: 5,296
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Quote:
Originally Posted by CanuckShooter
What a great way to make sure the plan keeps growing, the other option is to not let you collect till you are older. Liberals say put more money in, Cons say work more years before you can collect....6 of one, half a dozen of the other. Does the extra the libs want also mean the employer pays more too? |
I think you know the answer?
Yes?
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11-06-2016, 06:59 AM
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Banned
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Join Date: May 2007
Posts: 17,790
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Quote:
Originally Posted by pikergolf
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They don't say what sort of return they're expecting on this investment.
Must be pretty large. Good on the CPP managers for beating out all the other large investment firms etc that must have been clamouring to get in on this deal.
They even opened up an office in Mumbai. Is that normal?
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11-06-2016, 08:01 AM
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Join Date: May 2007
Location: Westlock
Posts: 5,533
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Quote:
Originally Posted by Ddawg
Your information is wrong, the high earners rate would bankrupt businesses, as CPP is matched by the employer.
— Increasing premiums on employers and employees by one per cent, meaning an extra $408 a year coming off paycheques.
— Increased premiums will be phased in over seven years, starting in 2019.
The big changes in CPP is that it’s to help bail out public pension plans that are unsustainable.
Sent from my iPhone using Tapatalk |
Not my numbers....as mentioned in my first post.
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11-06-2016, 10:55 AM
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Join Date: Jun 2014
Location: Canmore
Posts: 2,106
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Quote:
Originally Posted by Twist
At 65 you will not receive as much CPP as you have a government of Canada pension already. Dumb I know, but true.
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I believe CPP and OAS are two different entities. I waited until I was 62 to draw CPP so it is reduced but will stay at that reduced amount until I die or selfie the clown gives it all toi the refugees. CPP is only for people who paid into it. OAS is for everyone over 65.
__________________
Woke up with a pulse, best day ever
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