W. K. Lis
Superstar
Looks like the Trudeau gov't is increasing our payroll deductions http://www.cbc.ca/news/business/finance-minister-cpp-1.3643155
My problem with CPP is that through my career I will have put in thousands of my dollars into the system. However when I die I cannot pass my retirement contributions to my spouse of kids. Instead they can absorbed into the gov't ether. I'd prefer a system where I can opt out if I feel I can manage my own retirement, thus ensuring the money is invested and later used as I see fit.
You forget that your employer would also be putting an equivalent amount into the CPP.
They need to increase the death benefits, because it has not been increased or adjusted for inflation in decades. Maybe the leftover retirement contributions (employee part) should be paid to the estate, if it hasn't been used up.