Unlike an RRSP or TFSA, the CPP does not allow Canadians to withdraw money early.
canada pension plan
The CPP investment board has more than 1,800 employees, mostly in Toronto.
It’s close, but assets do exceed liabilities.
Alberta’s $27.9 billion net contribution over this period is almost four times greater than Ontario’s.
Albertans Make Disproportionate Contributions to National Programs: The Canada Pension Plan as a Case Study
The bulk of current contributions fund the benefits to current retirees.
The expanded CPP’s overall rate of return for workers is a meagre 2.5 per cent.
Clearly, lack of a workplace pension does not doom someone to financial insecurity in retirement.