../Morning Post
Posted October 4 , 2010
____________________
Letter to the Editor

To The Editor: I am writing to correct an inaccuracy in the article “Peter Is Broke, So Paul Is On His Own”, by Dennis Grimm, which appeared in the October edition of Exchange Magazine.

Waterloo - Mr. Grimm stated that the stability of the Canada Pension Plan has been an issue for several decades. In fact, federal and provincial policy makers successfully reformed the CPP in the mid-1990’s so that it would be sustainable for generations to come. The Chief Actuary of Canada published a report in October 2009 reaffirming that the CPP is sustainable, at current contribution and pay-out rates, for the 75 year period covered by his report.

The CPP Investment Board invests the funds that are not needed to pay current benefits. It currently has assets of $130 billion, which are projected to grow to approximately $465 billion within the next two decades. It will be 11 years before even a small portion of the CPP Fund’s investment income will be required to help pay pension benefits.

Canadians can be assured that the CPP will remain the foundation of their retirement security.

Sincerely,
Robert Astley
Chair, Board of Directors
CPP Investment Board

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