50% Increase

[Rastus]

I can hardly wait to collect my old age pension. If the minimum wage is going up 50%, my Old Age Pension should go up 50%, or am I just dreaming?

[jaydub99]

Originally Posted by Rastus

I can hardly wait to collect my old age pension. If the minimum wage is going up 50%, my Old Age Pension should go up 50%, or am I just dreaming?

Why would it? the OAP is legally set to adjust with inflation (CPI). Minimum wage, on the other hand, has not kept up with inflation and that's largely why it's being adjusted.

[spyguy 0-0-7]

Dreaming....Do you really think that Justine and his henchmen and women,are going to give the honest hard working Canadians,who have paid into the plan,anything that looks like an increase. Don't hold your breath!

[Ken07AOVette]

They will likely cut it by 50% to cover costs

[Bigwoodsman]

Originally Posted by Ken07AOVette

They will likely cut it by 50% to cover costs

While voting themselves a healthy increase and severance. Legalized Crooks!

The Government does not protect the honest person. They screw the taxpayer, and coddle the criminal.

Do not mean to de-rail. However the governments in this great country and the way they treat the populace really ****es me off!

BW

[Badgerbadger]

Originally Posted by jaydub99

Why would it? the OAP is legally set to adjust with inflation (CPI). Minimum wage, on the other hand, has not kept up with inflation and that's largely why it's being adjusted.

Shhhhh!

Introducing facts really takes the joy out of baseless ranting!

[bobtodrick]

Originally Posted by Badgerbadger

Shhhhh!

Introducing facts really takes the joy out of baseless ranting!

I notice that a lot on AO

[Newview01]

Originally Posted by jaydub99

Why would it? the OAP is legally set to adjust with inflation (CPI). Minimum wage, on the other hand, has not kept up with inflation and that's largely why it's being adjusted.

It has always been proven that more government meddling is helpful for the economy in general. It should be raised to $50 an hour, I mean, if everyone makes more $ life will just be more affordable right?

[Bushrat]

Originally Posted by jaydub99

Why would it? the OAP is legally set to adjust with inflation (CPI). Minimum wage, on the other hand, has not kept up with inflation and that's largely why it's being adjusted.

Neither has the OAP. The CPI(consumer price index) started at a baseline of $100 15 years ago in 2002. $100 would buy The package of household expenses they use to calculate the CPI and then calculate OAP using that. I don't know what the package of goods they use for the CPI adjustments for inflation but today 15 years later they say it now takes $129 to buy the equilivant of what $100 bought 15 years ago. I don't know about you but in the last 15 years my groceries, fuel, electricity, natural gas, phone, internet, taxes, etc have doubled for the same single person that I am in the same house. Not to mention house prices or rent increases. There is no way the OAP is keeping up with the real cost of living. It might be keeping up with the deceptive assortment of products and services they use to falsely guage inflation for the CPI but that assortment of goodies they must be using has little relation to the real cost of living which they ignore.

My Grandparents (no retirement savings or company pensions) lived exclusively off of CPP and OAP 40 years ago in their own home and it provided enough to support them in the fashion they were accustomed to before Gramps retired, not a fancy life whatsoever. Gram had never worked outside the home. With what they got hey were able to afford their car, insure it and their house, maintain it and pay property taxes, heat, lights, groceries, clothing and the bills of everyday life, buy small presents for family members at Christmas and birthdays and some left over for my Gram to give small donations to church and various charities. Gas up the old car for drives and a dinner out on Sundays. There is no way you can do that on OAP and CPP exclusively today. Both put together wouldn't pay the rent and utilities on most 2 bedroom apartments let alone anything else. OAP and CPP have not kept up with inflation, not even close. They have only kept up with the Gov'ts fudged inflation rate numbers based on the phony CPI.

[purgatory.sv]

The dream has been destroyed.
Thank you for the wake up.

We are dealing with my last surviving relative and it's eye opening.

A quick exit can be beneficial ,only if all is in order.

----.

[Okotokian]

Originally Posted by spyguy 0-0-7

Dreaming....Do you really think that Justine and his henchmen and women,are going to give the honest hard working Canadians,who have paid into the plan,anything that looks like an increase. Don't hold your breath!

It gets increased every year.

Originally Posted by Bushrat

My Grandparents (no retirement savings or company pensions) lived exclusively off of CPP and OAP 40 years ago in their own home and it provided enough to support them in the fashion they were accustomed to before Gramps retired, not a fancy life whatsoever. Gram had never worked outside the home. With what they got hey were able to afford their car, insure it and their house, maintain it and pay property taxes, heat, lights, groceries, clothing and the bills of everyday life, buy small presents for family members at Christmas and birthdays and some left over for my Gram to give small donations to church and various charities. Gas up the old car for drives and a dinner out on Sundays. There is no way you can do that on OAP and CPP exclusively today. Both put together wouldn't pay the rent and utilities on most 2 bedroom apartments let alone anything else. OAP and CPP have not kept up with inflation, not even close. They have only kept up with the Gov'ts fudged inflation rate numbers based on the phony CPI.

Today, husband getting full CPP and wife getting nothing, both getting OAS, and both of them qualifying for GIS, they would be getting about $32,000 a year. If you have a place that is paid for or a modest apartment, you can survive on that. If you haven't bothered to save a dime in your life you can't expect much more.

Now if you were a minimum wage earner your CPP component would be much lower.

[Okotokian]

edited double post

[Bushrat]

Originally Posted by Okotokian

It gets increased every year.



Today, husband getting full CPP and wife getting nothing, both getting OAS, and both of them qualifying for GIS, they would be getting about $32,000 a year. If you have a place that is paid for or a modest apartment, you can survive on that. If you haven't bothered to save a dime in your life you can't expect much more.

Now if you were a minimum wage earner your CPP component would be much lower.

I could survive nicely on that, except the wife I don't have will bring nothing nor will she qualify for GIS though I should qualify. Been living like a hermit for years and saving my pennies for that very reason.

[dmac]

Originally Posted by Bushrat

I could survive nicely on that, Been living like a hermit for years and saving my pennies for that very reason.

Yikes, good luck with that.

[Bushrat]

Originally Posted by dmac

Yikes, good luck with that.

Lol...You don't understand the freedom of poverty....

P.S. I'm taking donations of cardboard and old tarps for my new addition.....The more siding I tear off.... the lower my property taxes get...

[EZM]

Most (if not all) pension plans are adjusted for living/inflation costs. This includes CPP and OAP.