设万维读者为首页 广告服务 技术服务 联系我们 关于万维
简体 繁体 手机版
分类广告
版主:股民甲远古的风
万维读者网 > 股市财经 > 帖子
How much we pay for retirement every year?
送交者: jingchen 2019年01月10日11:33:25 于 [股市财经] 发送悄悄话

How much we pay for retirement every year?


Many articles talked about the benefit we will receive upon retirement. Few articles talk about how much we have to pay for the potential benefit. We will briefly discuss the cost we pay for retirement.


The easiest part to calculate is CPP (Canada Pension Plan) contribution. For people earning $55,000 or higher a year, CPP contribution is over $5000, including the employer‘s contribution. OAS (Old Age Security) benefits come from general tax income. It is not directly connected to your individual tax contribution. As OAS benefits cover everyone and benefit amount is of similar value to CPP, we can estimate our average tax contribution to OAS is at least $5000. With CPP and OAS, an average person pays about $10,000 per year for retirement.


Most companies provide company sponsored pension plans. Total contribution, including employer’s contribution, is about 10% of your income. An average Canadian worker makes about $50,000 a year. His company pension contribution is about $5000 a year. Together with CPP and OAS contribution, we already pay about $15,000 for retirement every year. 


There are many optional retirement plans with tax benefits. It is up to individuals to determine how much one wants to pay. For me, it is much more valuable to spend money when one is young than one is old. We can have one more memorable vacation, one more precious child, and one more beautiful memory when we are old. Why squeeze our youth to pursue a mirage of paradise in old age? 


Finally, we will estimate the efficiency of retirement benefit. Our average CPP and OAS contribution is $10,000 a year. Over 40 years, our total contribution is $400,000, without counting time value. Average Canadian life span is 81 years old. On average, we will receive 81-65 = 16 years benefits. The highest retirement benefit for a single pensioner can receive is $24000, or $23997 to be more precise, in the year 2017. But not every one is a single, and majority have other incomes, such as company pensions. The average payout may be much lower than $20,000. Suppose the average payout is $20,000. Over 16 years, the total payout is $320000, which is much lower than the total contribution of $400,000. Forget about the supposed huge time value over such a huge time span. We can’t even get the principal back.


0%(0)
0%(0)
标 题 (必选项):
内 容 (选填项):
实用资讯
北美最全的折扣机票网站
贝佳药业美国专利【骨精华】消关节痛、骨刺、五十肩【心血通】改善心绞痛
一周点击热帖 更多>>
一周回复热帖
历史上的今天:回复热帖
2018: Vantage FX外汇分析:短期对美元指数的
2018: 大神人左脸面眼鼻唇有红色胎记湿婆梵天
2017: 境内外人民币汇差扩大 “套利”舆论再起
2017: 六大汉奸经济学家让中国卷入两房的陷阱
2016: 第十届股坛大师赛金牌榜【第1周】
2016: 韫栋砳:中美股指比较
2015: 中国股市/ 上证指数1-4波段 12-1-2015
2015: 美国股市/ 道琼斯指数1-4波段 12-1-201