Ours is a sliding rate based on your income. It is a line item on your tax form for the pension plan. For say 75k earnings you’d pay about $4000 to the CPP, employer contributes an equal amount. If you are self employed you have to contribute both the employee and employer amount so about 8K.
The fund has investment managers growing it. But it is still a pyramid of new workers propping up the fund so retired people can draw from it. As life expectancy increases they will probably move retirement age.
Ours is a sliding rate based on your income. It is a line item on your tax form for the pension plan. For say 75k earnings you’d pay about $4000 to the CPP, employer contributes an equal amount. If you are self employed you have to contribute both the employee and employer amount so about 8K.
The fund has investment managers growing it. But it is still a pyramid of new workers propping up the fund so retired people can draw from it. As life expectancy increases they will probably move retirement age.