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Old 02-03-2013, 04:04 PM   #7
damameke
6th Gear Member
 
Join Date: Dec 2008
Location: Canada
Posts: 1,372
Quote:
Originally Posted by 5style View Post
Its frightening
ya, it is frightening.. Canada pension plan is not generating the returns to pay the retirees and CPP contribuion went up beginning of this year...

We are just taking about Canada Pension Plan and one can retire now at age 67 intead of 65.(law changed) ..they put in penalty if you retire at age 60 for those that qualify...

and if one retires only with CPP and OAS, thats not alot, without RRSP savings and or company's pension...thats going to be tough

and for the pensioners;this ruling was against them and Nortel, most are in their 70, the pension they are fighting for is hugh for their retirement years.... the bankruptcy law needs to be changed to place pensioners before bond holders and creditors to protect future issues such as this....

So save whatever you can for your retirement...
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