There is one thing fundamentally wrong with the Government's calculation of available Canada Pension Funds. They forgot to figure in the people who have died before ever collecting a single CPP cheque.
Where did that money go?
Not only have you and I have contributed to CPP but our employers did as well. A total of 15% of our total income before taxes, averaged out, if you made $30,000. a year throughout your working life, would mean $220,500.
Every working person. In their lifetime. Pays $220,500.
Money, we put in a Govenment Bank to insure us that we would be getting our just reward.
A Retirement Cheque.
Money, owed to us, now called...
As if charity, or a handout.
Money, which when we reach the ripe old age of 65 we will be entitled too, even though it's your money. A simple calculation: If you calculate the future invested value of $4,500 per year (yours and your employer contribution) at 5% interest. After 49 years of working you'd have a whopping $892,919.98
and... if you took out only 3% per year, you'd receive $26,787.60 per year and would last 30 years. With no interest paid on that final amount. If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
Now the question:
What if you die and don't collect a red cent?
Canada Pension Plan
The Biggest Ponzi Scheme Ever!
|Police mug shot of|
Charles Ponzi the
namesake of the
At a time when everyone in the Government, greats huge expense accounts, free healthcare, outrageous retirement packages, 67 paid holidays per year, 3 week vacations, unlimited sick days.
Our retired seniors living on a 'fixed income' receive no additional federal aid nor do they get any financial breaks, while our Government and Religious Organizations pour billions of dollars and tons of food to foreign countries.
The Canadian Government can't help it's own citizens, the seniors, the veterans, the orphans and the homeless and helpless. They tell us they have no more money. Yet, all this money dissipates into foreign hands with no accountability.