Canada Pension Plan: Canada

Quebec Pension Plan Dept: In Canada, the foundation of almost everybody's pension is what the Canada Pension Plan or its twin, the Quebec Pension Plan, and Old Age Security will provide. But not everybody is sure that these pillars of late-in-life financial security are themselves secure, according to Montreal Gazette. Canada's population is growing older, increasing the fraction of those over 60, the earliest start dates to draw on CPP and QPP and 65, the start date for OAS. The elderly live longer as well. Meanwhile, the proportion of younger people in the labour force who pay the bills for those over 60 or 65 is shrinking and we have to consider if, when we retire, CPP and OAS will be around for us,'' says Len Kiropolis, a Georgetown, Ont. businessman. We really doubt that CPP and OAS will take care of us.'' The perception is understandable. Underlying the perceived problems of both pension systems, which are pay as you go structures rather than trusts fully funded with previous contributions, is a set of unsettling facts. (www.immigrantscanada.com). As reported in the news.