CPP: Is it Unfair, or Just Too Complicated to Understand?

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In this video, we look into the intricacy of the Canada Pension and explore whether it is challenging for Canadians to understand. We also take a look at whether this complexity is adding to the viewed unfairness of the CPP.


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CPP: Is it Unfair, or Just Too Complicated to Understand?

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  1. 📈📚 Join The Investing Academy ➤ https://bit.ly/theinvestingacademy

    Is the CPP system unfair? Or is it so complicated that Canadians can’t figure it out, which then leads them to believe it’s unfair? We’ll discuss some of the major problems with the perception of Canada Pension Plan program.

  2. This is a provocative piece. I regularly talk to people about retirement and my impression is that there is a very high degree of trust in the CPP. Could you direct me to the data that supports your assertion that there is widespread scepticism about the CPP program? I can’t find anything online that indicated that there is this kind of concern. That said, your defence of the CPP is solid and should be shared.

    1. Hi Randal. Really appreciate you leaving your comment. I find mixed results when people speak about the CPP, but I know a significant number of our viewers feel the CPP doesn’t serve them well. That said, in my own circle, I agree that most would say it’s a reasonable part of an overall retirement plan. I did a quick Google search and up came rather negative articles from a number of sources. Perhaps anecdotal, but real in the minds of many. I think they key is to understand that the program is meant to supplement your retirement income, not provide it. That’s a fact that’s missed by many. For those unfortunate who struggle with health issues, that’s a whole other ballgame. Thanks for watching. – Marc

    2. @Brandon Beavis Investing Thanks Marc. Yes, I found some of those types of articles too but nothing to really back up the statement. You are (obviously) spot on with respect to the caveat “supplement.” It will be interesting to see what happens as the generation that starts receiving the enhanced CPP in the future. I think that will make a big difference in reducing poverty in retired demographic in the future. As I mentioned, a solid piece and anything that improves financial literacy is a good thing. Keep up the great work!

    3. I agree. Sure, there are CPP detractors but I’m not convinced it’s to the degree suggested here.

      “A ton of distrust” & “huge cause of distrust“ are subjective statements I guess but they sound like hyperbole to me.

      I for one would have welcomed a more definitive rebuke of these perceptions / beliefs. CPP is complicated but there are lots of tools available to get a much better understanding of how to calculate one’s benefit.

  3. Certainly the numbers you’ve shared especially the organic growth (net income from the various investments) is very encouraging! Unfortunately doubters or people who believe in conspiracies will remain mistrusting, perhaps in part because of their greater payout expectations from the program (ignoring the fact that CPP was never intended to fully replace income in retirement). Great video!!

    1. Hi Kimmy. Thanks for watching and commenting. It shows that you have good insight. 👍 – Marc

  4. I trust the CPP. All the criticisms I have heard have been pretty spurious in my opinion. I ani’t no smarty pants or nuthin, but if I read the info sloooooooowly, I can figure it out. It is clear everyone who isn’t paying into it for whatever reason is clearly SOL, though. Working under the table is not a good idea in general. a common complaint: “everyone has it better off than me!”

  5. CPP is a benefit that all of us should be thankful that this was put in place. But the government also realized there needs to be more welcome the rrsp, and now we’re really lucky because we have the TFSA. I am just hoping tfsa rules don’t change

  6. So great you had the idea to present this. Thank you Mark! I learned a lot about CPP and most important, I feel less overwhelmed and can ask myself better questions as a result. Knowledge is power! I manage my Moms retirement investment accounts and as a result, see her CPP rolling in. I also can’t help but wonder about myself moving forward into retierment in 20 years. You make a good non-bias presentation which someone in the government should probably be doing which you kindly pointed to. Service Canada needs to up their game and educate. Thanks again, well done video and info!

  7. Just started getting my CPP last year. What surprised me was the amount I got seemed to be based on last years income and not what I was earning at the time I started collecting. I think it should be based on current income status.

  8. My husband stayed home to raise our kids. He called CRA to find out what he would get given he was stay at home. CRA said he didn’t qualify for the bump up because the child benefit was in my name instead of his. Who would know that matters? The system assumes the wife stays home. Our money was pooled so it’s ridiculous. One of the quirks of the program that isn’t fair

  9. well… I am currently getting just under 11% return on my investments, but not all instruments have been around for my working career. Also, how long have low cost investment options where I can invest $20 as I get it been around vs my working and contributing since the mid-80s? Thought so. Finally… according to my last t4, $1761 in CPP contributions this past YEAR. How much is that going to get me even if I had been investing it all the whole time? Sorry naysayers, this ol’ git is happy with the gov. returns and massive investment power of billions of dollars.

  10. While I am glad that CPP exists, I think the unfairness is in the fact that people are required to pay into this so-called “pension” yet it is not considered to be an asset like other pensions are. Therefore, if a contributor dies before being able to collect, they lose everything they contributed over the course of their working life and cannot pass the funds to a beneficiary. So it just ends up basically like an extra tax they were forced to pay. Seems to me it is especially unfair to single people since a spouse would at least get some survivor’s benefit.

    1. It could be what you suggest but then it would cost magnitudes more. Just like an annuity with a survivor’s benefit costs much more than one without. Funds that end up not being paid out to early decedents are what helps to keep the overall cost of CPP where it is at are at today.

  11. 700s great to know ✅ that’s one of the reasons why I love your videos and Brandon ‘s ❤️🙏. Cheers to all of us who are being educated by you two 🙏Highly appreciated! Thank you Marc .

  12. The tragedy with CPP (and OAS) is the people who need it the most are least likely to benefit. I deferred my public pensions to age 70 and am currently receiving a little over $30,000 a year from CPP & OAS – I think the maximum is about $33,000.00 but my other income puts me in OAS clawback territory. It’s likely that anyone who defers their public pensions to age 70 has other income streams – the key there is to start young. $1,000/year invested at a very conservative 5% will grow to $130,000 over a 40-year career and most Canadians, even those with very little money, waste more than that every year.

  13. Good job Marc. There is a lot of people out there who are misinformed about the program or just plain don’t understand it. I recently did a video on CPP as well and was surprised how well received it was. I really do believe there is an audience out there for retirement related content and I know you like to cover it which I think is great. I also think the way you present it is very friendly which is the best way to go in my opinion.

  14. My thesis is that too many Canadians have not responsibly saved for their elderly selves and those who did will have to subsidize these people.

  15. Young people don’t understand CPP. Thanks for sharing this and opening the conversation

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