bobsledder
Active VIP Member
That is what this is really about. Leverage to get the feds to back off and get out of Alberta's way. That I support and same thing needs to be done to BC and Quebec
APP Alberta Pension Plan
- Thread starter pfi572
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pfi572
Active VIP Member
Here is why we need an Alberta Pension Plan ASAP!
Hello everyone. My name is Rick Rewuski and I live and work in Dewberry, a small village located in East Central Alberta. I did some Canada Pension Plan calculations for my grandson who is beginning his career as an engineer, who will be earning in excess of $68,500.00 per year. The sum of $68,500 is the insurable earnings used to calculate the annual CPP premium as well as the CPP pension benefits at age 65. Based on the insurable earnings of $68,500.00, the annual employee and employer contribution to CPP will be $7,735.00. Assuming everything remains the same for the next 42 years, my grandson will have contributed a total of $324,870.00 to his pension fund.
Canada Pension reports that the average annual rate of return for the past 10 years is 9.6% and the rate of return for the last year is 6.8%. If the fund earns an average of 6.8% per year, the fund will have a balance of 1,811,624.75 at age 65. If the fund earns an average of 9.6% per year, the fund will have a balance of $4,069,377.55 at age 65.
For this illustration, I am using a conservative rate of return of 5% compounded annually, which would value my grandsons’ pension account at $1,106,053.00 at age 65.
With a balance of $1,106,053.00 at age 65, and interest at 5%, my grandson should expect to receive an annual pension in the amount of $55,302.00 or $4,609.00 per month. However, that is not even close to what he will actually receive in pension benefits. Canada Pension will only pay 33% of the insurable earnings of $68,500.00 which is $22,605.00 annually or $1,883.75 per month. That means, Canada Pension is withholding $32,697.00 of the annual interest earnings. If my grandson draws his pension for one year and then passes away, his estate will receive a death benefit of $2,500.00 and Canada Pension keeps the entire $1,106,053.00. If he is married at the time of his passing, his spouse will only receive a portion of his annual Canada Pension entitlement which is dependent on how much she is receiving from her own CPP fund and, CPP will keep the entire $1,106,053.00 for itself. Currently, the maximum a survivor can receive is a combined total of $1,613.54 per month or $19,362.48 annually. You will notice that the annual pension is much less than what the fund will earn annually and CPP still keeps the balance of the fund of $1,106,053.00 for itself.
If your banker offered you an investment plan whereby you deposited a fixed amount of money into an account for 42 years and you were offered a 5% annual rate of return on your investment, and your investment would grow to a value of $1,106,053.00, you might think that is a good deal. However, if your banker told you that in 42 years, you could only draw 40% of the annual interest earnings, and on your death, your estate would receive a lump sum payment of $2,500.00 and the bank would keep the remaining $1,106,053.00 for themselves. Would you invest your money in that type of an investment? I think not, but that is the investment plan that you are getting with your Canada Pension Plan.
The Alberta Pension Plan is predicting that we could receive a lump sum payment of $10,000.00 upon retirement and our monthly pension could be 2 or 3 times as much as we are receiving from Canada Pension. If you look at the amount of interest and account balances CPP is withholding from each contributor, an increase in our monthly pensions is absolutely possible.
Everyone is very concerned about how much money Alberta will receive from Canada Pension Plan. Initial reports indicate that CPP owes Alberta 343 billion dollars. What does it matter if we receive 343 billion or something less? Look at how much money we will save with an Alberta Pension Plan and how much it will improve our lives when we retire. A $10,000.00 lump sum payment upon retirement and double the monthly income? Why would anyone turn that down?
All of the above information is available on the internet and I would encourage everyone to do their own research. Then you can make an informed decision.
Have a great day everyone!
Copy and pasted
Hello everyone. My name is Rick Rewuski and I live and work in Dewberry, a small village located in East Central Alberta. I did some Canada Pension Plan calculations for my grandson who is beginning his career as an engineer, who will be earning in excess of $68,500.00 per year. The sum of $68,500 is the insurable earnings used to calculate the annual CPP premium as well as the CPP pension benefits at age 65. Based on the insurable earnings of $68,500.00, the annual employee and employer contribution to CPP will be $7,735.00. Assuming everything remains the same for the next 42 years, my grandson will have contributed a total of $324,870.00 to his pension fund.
Canada Pension reports that the average annual rate of return for the past 10 years is 9.6% and the rate of return for the last year is 6.8%. If the fund earns an average of 6.8% per year, the fund will have a balance of 1,811,624.75 at age 65. If the fund earns an average of 9.6% per year, the fund will have a balance of $4,069,377.55 at age 65.
For this illustration, I am using a conservative rate of return of 5% compounded annually, which would value my grandsons’ pension account at $1,106,053.00 at age 65.
With a balance of $1,106,053.00 at age 65, and interest at 5%, my grandson should expect to receive an annual pension in the amount of $55,302.00 or $4,609.00 per month. However, that is not even close to what he will actually receive in pension benefits. Canada Pension will only pay 33% of the insurable earnings of $68,500.00 which is $22,605.00 annually or $1,883.75 per month. That means, Canada Pension is withholding $32,697.00 of the annual interest earnings. If my grandson draws his pension for one year and then passes away, his estate will receive a death benefit of $2,500.00 and Canada Pension keeps the entire $1,106,053.00. If he is married at the time of his passing, his spouse will only receive a portion of his annual Canada Pension entitlement which is dependent on how much she is receiving from her own CPP fund and, CPP will keep the entire $1,106,053.00 for itself. Currently, the maximum a survivor can receive is a combined total of $1,613.54 per month or $19,362.48 annually. You will notice that the annual pension is much less than what the fund will earn annually and CPP still keeps the balance of the fund of $1,106,053.00 for itself.
If your banker offered you an investment plan whereby you deposited a fixed amount of money into an account for 42 years and you were offered a 5% annual rate of return on your investment, and your investment would grow to a value of $1,106,053.00, you might think that is a good deal. However, if your banker told you that in 42 years, you could only draw 40% of the annual interest earnings, and on your death, your estate would receive a lump sum payment of $2,500.00 and the bank would keep the remaining $1,106,053.00 for themselves. Would you invest your money in that type of an investment? I think not, but that is the investment plan that you are getting with your Canada Pension Plan.
The Alberta Pension Plan is predicting that we could receive a lump sum payment of $10,000.00 upon retirement and our monthly pension could be 2 or 3 times as much as we are receiving from Canada Pension. If you look at the amount of interest and account balances CPP is withholding from each contributor, an increase in our monthly pensions is absolutely possible.
Everyone is very concerned about how much money Alberta will receive from Canada Pension Plan. Initial reports indicate that CPP owes Alberta 343 billion dollars. What does it matter if we receive 343 billion or something less? Look at how much money we will save with an Alberta Pension Plan and how much it will improve our lives when we retire. A $10,000.00 lump sum payment upon retirement and double the monthly income? Why would anyone turn that down?
All of the above information is available on the internet and I would encourage everyone to do their own research. Then you can make an informed decision.
Have a great day everyone!
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pfi572
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Alberta Prosperity Project (APP) Lloydminster / Vermilion | ***Here is why we need an Alberta Pension Plan ASAP | Facebook
***Here is why we need an Alberta Pension Plan ASAP!*** Hello everyone. My name is Rick Rewuski and I live and work in Dewberry, a small village located in East Central Alberta. I did some Canada...
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snopro
Active VIP Member
This is why the feds don’t want you to leave. They are always one scam ahead of us.
bobsledder
Active VIP Member
What is going on with this anyway? Not hearing anything about it in the news since the story broke about policy for the alphabet people.
- Thread starter
- #207
pfi572
Active VIP Member
Anytime government is telling you it’s a good deal RUN !!!!!
smokinD
Active VIP Member
Sharing webpage for folks that would like to know more
https://albertaprosperityproject.na..._plan_a_start_to_sovereignty_calgary_20240221
https://albertaprosperityproject.na..._plan_a_start_to_sovereignty_calgary_20240221
papajake
Active VIP Member
thanks SMOKIND there is one in Caroline this Saturday 17 starts at 6:00 everyone get out and support this Alberta project
smokinD
Active VIP Member
papajake
Active VIP Member
for everyone that goes make sure you sign the petition form we need to get this done ASAP
bobsledder
Active VIP Member
So they got a disqualified UPC candidate, a self proclaimed Lay-Theologian independent Christian Economist and a Western Standard columinst for the panel.
Yeah. The gov has proved me to time and time again then can't manage anything worth ch!t. I don't want a gov pension, I don't want anything from the government!
bobsledder
Active VIP Member
yep Confident they will screw this up
fj40
Active VIP Member
Alberta has been running a successful pension plan since 1962.
So I think an Alberta pension plan will be way better than the cpp.
If you are a employee you have to pay into some kind of plan. If you want out become a contractor for whoever you work for.
So I think an Alberta pension plan will be way better than the cpp.
If you are a employee you have to pay into some kind of plan. If you want out become a contractor for whoever you work for.
papajake
Active VIP Member
if anyone has any questions on the ALBERTA PENSION PLAN go to www.albertafirstpension.ca and please share with friends and family
DaveB
Active VIP Member
Contrary to letting me learn anything about the plan, this link goes straight to a petition asking me to support it.
Try this: https://www.albertapensionplan.ca/
smokinD
Active VIP Member
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