Clearly, lack of a workplace pension does not doom someone to financial insecurity in retirement.
canada pension plan
Mandatory CPP contributions from working Canadians will increase steadily between January 2019 and 2025.
CPP expansion could result in a $114 billion reduction in domestic investment from 2019 to 2030.
Canadians born after 1970 can expect a rate of return on their CPP contributions of between 2.3 per cent and 2.5 per cent.
The increased CPP tax alone translates into $1,624 more in taxes.
For retirees born after 1993, the CPP rate of return will be a meagre 2.5 per cent.