While this debate is occuring, it would be nice to allow employees or any individuals to invest funds in a DC like account (or investment account) that would earn CPP’s return while benefiting from their low cost base. Employer matches could be non-existent or optional. At least with this approach, those who want to invest supplemental money now could do so in a fairly short time frame. Once proposed changes are announced for a CPP expansion, a supplemental DC arrangement or savings account could be maintained. The effort will not be wasted.
You’d think that 9.9% ‘invested’ over a lifetime of work would be “enough”,particularly with the GIS insurance!
If you agree, then an improvement would be to untax the employer’s portion.
While this debate is occuring, it would be nice to allow employees or any individuals to invest funds in a DC like account (or investment account) that would earn CPP’s return while benefiting from their low cost base. Employer matches could be non-existent or optional. At least with this approach, those who want to invest supplemental money now could do so in a fairly short time frame. Once proposed changes are announced for a CPP expansion, a supplemental DC arrangement or savings account could be maintained. The effort will not be wasted.
Terri | January 3, 2014 |
Terri thanks for this. The people at CARP have been promoting something very much along the lines you propose.
Bill B
Bill | January 3, 2014 |
You’d think that 9.9% ‘invested’ over a lifetime of work would be “enough”,particularly with the GIS insurance!
If you agree, then an improvement would be to untax the employer’s portion.
gordon a.... | January 3, 2014 |