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The new Ontairo Pension plan


Big Cliff

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Does anyone understand how this is going to work?

 

Will it affect people like myself that already collect CPP and Old Age Security?

Will it work like the CPP and be based on how much you contributed?

Will everyone be entitled to it even if you haven't contributed?

Will it be based on your current income?

Any idea of how much extra it might contribute to our pension income?

 

I currently get just under $1200.00 a month combined CPP and old age security. What does a single mother living on welfare get? (I'm not trying to start a fight about it, I'm just curious)

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Good question...

 

Im interested to here the answer(s)

 

Boy oh boy thats all you get is $1200/month? Thats insane.

 

My gramps, bless his soul, got somewhere in the neighborhood of $2500/month 12 years or so ago.

 

With his house paid off plus savings, he lived good in retirement.

Edited by manitoubass2
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Good question...

 

Im interested to here the answer(s)

 

Boy oh boy thats all you get is $1200/month? Thats insane.

 

My gramps, bless his soul, got somewhere in the neighborhood of $2500/month 12 years or so ago.

 

With his house paid off plus savings, he lived good in retirement.

That wasn't just CCP and old age pension was it?

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the max cpp + oas is somewhere around 1500-1600 unless there's a disability? pls correct me if i am wrong.

 

my understanding of the ontario pension plan as its currently proposed is its a sort of forced rrsp.. you contribute 1.9% of your first 90k and your employer matches. those contributions are invested in who-knows-what by a third party

 

i've not really fully digested it all and dont have an opinion one way or another on it yet. i've been a good little saver all my life and a part of me says i'd rather keep my 1.9% and control it myself.

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I would rather take care of my own money and invest it as I see fit. Kathleen and her predecessors don't really have a great track record when it comes to caring for my hard earned money. This is just another 'revenue tool' for them to squander on their next boondoggle.

Edited by G.mech
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Well, when I figure out what I contributed to CPP all these years (and I still do BTW) If I live to 250 I might get back everything I contributed. Funny how they keep talking about the CPP running out of money but they never talk about their pensions running out.

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Well, when I figure out what I contributed to CPP all these years (and I still do BTW) If I live to 250 I might get back everything I contributed. Funny how they keep talking about the CPP running out of money but they never talk about their pensions running out.

And welfare money never runs out either Cliff .... :whistling:

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Have 4 kids, go on welfare.. Trust me you'd like the cheques coming in.

 

I've said it here before, but I have a 70 year old cousin who has been on welfare her entire life and has never worked one single day since she was born.

 

She's never been married but has 6 kids with 6 different men and told me I was completely stupid to work for a living as welfare treats her very well.

 

As far as she's concerned, welfare is just a normal way of life that pays her quite well and it's much easier than getting up every day and working your butt off.

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I've said it here before, but I have a 70 year old cousin who has been on welfare her entire life and has never worked one single day since she was born.

 

She's never been married but has 6 kids with 6 different men and told me I was completely stupid to work for a living as welfare treats her very well.

 

As far as she's concerned, welfare is just a normal way of life that pays her quite well and it's much easier than getting up every day and working your butt off.

Lotsa people do that. Do I like it? Nope

 

But it does not pay well lol.

 

These types of people have very low standards of living.

 

And it sounds like she has an incompitant worker.

 

Where is her participation agreement? There is zero chance shes participating the way should is legally obligated too.

 

And bill, here is a few numbers for two parents with 4 kids.

 

793 per month in max shelter out of that you must also pay gas and hydro

 

463 for basic needs

 

You can only have 7000 in assets and can own a home and one vehicle

.

 

You must form a participation agreement that includes proof of looking for work, attending courses which make you more employable. Failure to meet anything in your participation agreement means no cheque, at all

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Sure beats working for a living like the most of us do. Sit at home, collect welfare. Way too many people do this and get away with it, makes me sick to my stomach knowing my taxes go to supporting these lowlifes. I realize it happens, and people fall on hard times. That's exactly what welfare is for, helping people get back on their feet and back into the work force.

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