The expanded CPP will not increase overall retirement savings.
For every $1 increase in CPP premiums, the average Canadian household reduced its private savings by almost $1.
Mandatory CPP contributions from working Canadians will increase steadily between January 2019 and 2025.
Nine-in-10 Canadian families with children will pay, on average, $2,218 more per year.
Despite its reputation, the cost of the CPP is actually above the average for comparable plans based in Ontario.