Editor: By my very subjective estimate there are about 11,000,000 pensioners who call Canada home.
No matter how many we are, if you’re one of us, this treatise is for your attention in particular.
(Although the young’uns, are likely to be the ones to benefit from it most — if we can convince enough people in power to make it happen).
Apparently, according to their website, the Canada Pension Plan earns on average 8 per cent per annum from its investments. Last year it was 11.8 per cent. That’s a pretty good return. Kudos to those who manage this multi-billion dollar portfolio — the sixth largest in the world.
Have you ever checked on what was the increase in pension payments this year over last?
My own CPP pension went up 1.5 per cent. Combined with the OAS, it increased a total of 1.65 per cent in 2018 over 2017. As all renters in particular are aware, the Consumer Price Index (inflation rate) in B.C. went up 2.5 per cent. I don’t know about the rest of my fellow pensioners, but I’m definitely going backward.
Consequently, it is my hope that our country’s older citizens — and fellow activists — will bring this discrepancy to the attention of both their federal politicians and to their pensioned neighbours.
The question is this: Is it any wonder why so many of Canada’s elderly can no longer make ends meet and are steadily falling on hard times?
Obviously, for those who rely entirely on the CPP for their monthly existence, they aren’t going to make it at this current rate. Homelessness may be next. It’s time for a major review, don’t you think?.
This is my suggestion: Considering that the Canada Pension Plan is capable of earning an average return of 8 per cent per annum on its many investments, and considering that the CPP pays it pensioners a 1.5 per cent increase each year, wouldn’t it be nice if CPP were to pay its stakeholders at least a portion of that profit each year – say, a 5 per cent increase annually?
After all, it is we and our forefathers who financed this fund in the first place – and whose offspring continue to finance it.
The other benefit, if this idea is adopted, is that the funds don’t have to come out of the public coffers. It is money earned on our behalf each year via the dexterous hands the CPP managers.
Not only that, but one might think that for supporting such a proposal in Parliament before the next election, politicians might gain one a vote or two from the 11 million pensioners residing in Canada.
Evan Brett,
Langley