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Originally posted by Swingarm
reply to post by mybigunit
CPP is a joke , CPP was joined to the income tax in 1967 (3 years after they brought the cpp in). In the the income tax act 248(1) you will see the definitions only apply in the act. Some worth analyzing are Business, corporation, Employed, Employee, Employer,Employment, Office, Officer, person,legal Representative, individual, taxpayer,salary or wages, After you really understand these definitions, and how they change you from a natural person into one of these fictitious legal creatures like officer, it will become clear to you.
First of all, CPP came into law in 1965. 1966 was the first year any one person could make a full contribution. Secondly it is not a joke, I worked for Human Resrouces and Social Development Canada ( then HRDC) for 4 and a half years. You pay into CPP and you draw a pension when you reach a minimum retirment age. It was not joined with or to the Income tax act. the only way it in any way, shape or form is related to that at all, is if you owe back child support or owe back taxes, they can garnish your CPP or you Old Age Security pension.
and Yes, I had to study to legislation for both the CPP and the Old Age Security Act to be able to get the job there...
Not everyone has the option of paying into a private pension and CPP was meant to be a means of insuring that everyone who works in Canada has SOME retirement monies. It was never meant to be anyone's sole means of support in retirement.