Unlike an RRSP or TFSA, the CPP does not allow Canadians to withdraw money early.
canada pension plan
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.
Mandatory CPP contributions from working Canadians will increase steadily between January 2019 and 2025.