CPP benefits

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Canadians will receive meagre rate of return on CPP contributions

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.

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The program is designed so Canadians who die early in life subsidize those who live longer.

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CPP reforms need a complete rethink

For retirees born after 1993, the CPP rate of return will be a meagre 2.5 per cent.

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The rate of return Canadians—especially younger workers—will receive on their CPP contributions is meagre and will remain so even after expansion.

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In 2014, savings in non-pension assets totalled $9.5 trillion, dwarfing the $3.3 trillion assets in the formal pension system.

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Canadians may be forced to contribute up to an extra $3,250 more to the CPP each year.

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Accounting for non-pension assets in projections of future retirement income makes a difference.

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For working Canadians, contributions to the Canada Pension Plan (CPP) are a regular bill observed on their paycheques.

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A worker who retired (at age 65) in 1970 enjoyed a 39.1 per cent rate of return compared to the 2.1 per cent those born after 1971 will receive.