What is CPP (Canada Pension Plan) and how does it work? Is it worth it?

Some deductions are in place before your paycheck goes into your bank account. You don't have control over some of these deductions, but do you understand them? CPP, Canada pension plan is a forced saving plan. The government takes a portion of your paycheck today in your working years and gives you an income at retirement. Is it sustainable? My concern is, and let me know if you agree; in the year 1972, let's say your earnings were $2,700, then the government allows you to take $600.00 that your earn and says, "okay, you don't need to apply that amount to your CPP payment," but 1.8% of the remainder is going toward payment. Watch the video to see how the numbers grow. Yes, you're putting in income suggested for inflation, but you don't have the choice. This is a deduction that you have to take. If you enjoy this content, please consider a Life share and subscribe.