Canadian teachers contribute 12 percent to pension and gets 60 pct income till death

Teachers in Ontario, Canada get 60 percent of their best years salary in pension. To get that, they contribute 12 percent of salary.
http://docs.otpp.com/YourPensionPlanGuide.pdf. See pg 17 for detail

Our CPF, we pay 15 percent and we get peanuts - a few hundred bucks - in return.

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

winnipegjets said:

Teachers in Ontario, Canada get 60 percent of their best years salary in pension. To get that, they contribute 12 percent of salary.
http://docs.otpp.com/YourPensionPlanGuide.pdf. See pg 17 for detail

Our CPF, we pay 15 percent and we get peanuts - a few hundred bucks - in return.

Click to expand...

Contrary to what the ignoramuses here think, we don't have a pension system. CPF is not a pension. It's merely your savings account, now increasingly becoming an escrow for property mortgages and cheap source of funds for govt investments.

In most developed countries, a person contributes a portion of his income annually. When he reads retirement age (60 to 65 years), he gets a monthly pension for life, usually fixed at a percentage of last drawn pay.

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

winnipegjets said:

Teachers in Ontario, Canada get 60 percent of their best years salary in pension. To get that, they contribute 12 percent of salary.
http://docs.otpp.com/YourPensionPlanGuide.pdf. See pg 17 for detail

Our CPF, we pay 15 percent and we get peanuts - a few hundred bucks - in return.

Click to expand...

That's what they are promised. There is no guarantee they'll see their money.

http://business.financialpost.com/2...reform-or-face-crisis-top-fund-manager-warns/

Greece had a pension plan too. It has pretty much gone belly up and retirees will never see the money they were promised.

When financial prudence is thrown out of the window for political expediency, disaster is just a matter of time.

Everyone should do what I have always advocated and that is to take charge of your own life. Never allow politicians to dictate your future.

It does not matter whether it's PAP, WP, SDP or NSP or whatever other party comes out of the woodwork, you need to determine your own destiny by striving to achieve financial independence as quickly as possible.

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

Leongsam said:

That's what they are promised. There is no guarantee they'll see their money.

http://business.financialpost.com/2...reform-or-face-crisis-top-fund-manager-warns/

Greece had a pension plan too. It has pretty much gone belly up and retirees will never see the money they were promised.

When financial prudence is thrown out of the window for political expediency, disaster is just a matter of time.

Everyone should do what I have always advocated and that is to take charge of your own life. Never allow politicians to dictate your future.

It does not matter whether it's PAP, WP, SDP or NSP or whatever other party comes out of the woodwork, you need to determine your own destiny by striving to achieve financial independence as quickly as possible.

Click to expand...

What else in life is guaranteed except death?

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

U mean our CPF money is still there?how do u know the jinx has not used it for gambling in Macau to try to earn

Leongsam said:

That's what they are promised. There is no guarantee they'll see their money.

http://business.financialpost.com/2...reform-or-face-crisis-top-fund-manager-warns/

Greece had a pension plan too. It has pretty much gone belly up and retirees will never see the money they were promised.

When financial prudence is thrown out of the window for political expediency, disaster is just a matter of time.

Everyone should do what I have always advocated and that is to take charge of your own life. Never allow politicians to dictate your future.

It does not matter whether it's PAP, WP, SDP or NSP or whatever other party comes out of the woodwork, you need to determine your own destiny by striving to achieve financial independence as quickly as possible.

Click to expand...

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

hahaha....there are naive pple who thinks money grow on tree.....
many of the developed countries have had to progressively raise the retirement age of workers in order to have a sustainable economy....
this is the sad fact of life.....basically there is no free lunch...period.

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

winnipegjets said:

What else in life is guaranteed except death?

Click to expand...

Taxes except for people living in jungles away from modern civilization. They live by hunting, gathering, and picking fruits from trees. Those people are exempt from paying direct and indirect taxes. Everybody else will have to pay taxes one way or another. Even wealthy people residing in Monaco will have to pay a 17.5% VAT as a consumption tax (indirect taxation) when they purchase something although they don't pay income tax (direct taxation).

Re: Canadian teachers contribute 12 percent to pension and gets 60 pct income till de

winnipegjets said:

Teachers in Ontario, Canada get 60 percent of their best years salary in pension. To get that, they contribute 12 percent of salary.
http://docs.otpp.com/YourPensionPlanGuide.pdf. See pg 17 for detail

Our CPF, we pay 15 percent and we get peanuts - a few hundred bucks - in return.

Click to expand...

Of course!

Smear of shit on sole of shoe LKY gotten 700++ billions of our money into his stinkapore sovereign funds and hundreds more billions from us for his family and to pay his PAP maggots cockroaches

Where got money left for Stinkaporeans?

Stinkies deserved it for voting and voting for those maggots cockroaches all out to fuck and rape them for LKY

HANG ALL THOSE PAP BASTARDS UNDER LAMP POSTS WHEN OUR TIME COME
SEE THEM ALL DANGLE AND DANCE AS WE ALL WILL NOT GET MONEY BACK