Location: God's own country
Posted on: 02-04-12 14:40:59
Dimple:
It is not as simple as it looks.
It has more clauses.
A OAS is like a pie divided into 40 parts. If you stay 10 years you will get only 10/40 parts of the OAS.
The OAS payout is max. $ 540 a month. If you stay 10 years, you get $ 130 a month. It is peanuts.
But wait, if you OAS / CPP is less then you are eligible for GIS. GIS (Guarenteed Income Suppliment) condition is that you must be in Canada. So most of the old Indian people stay in Canada to get it.
There is another catch in the OAS. After 20 years, you still canot get the OAS in India. Canada does not have OAS agreement with India. Once you leave for India,you will get it for max. 6 months though you might have stayed in Canada for 50 years.
All this penalizes the hard workers / young / skilled immigrants. It offers no incentive for old people to live in old age homes in India.Old people clog up the health care system and exploit it to the core. mind it.It is not only Desi's but all other nationalities.
Peace
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I am a Gents and not a Ladies.
Benefits of OAS and GIS cannot be passed on to surviving spouse. A few years back I had written about the Median age of Indian being very low compared to Whites and I received brickbats for the same. Further, many argued about food, air and water quality i.e. “less pollution” would help longevity of Indian people residing in Canada. Such argument or logic is ridiculous and wishful thinking. It was my stance and is now also. What we forget is that the CD population go through a very harrowing and humiliating experience due to extreme discrimination in every aspect of our life. The menial job, mental tensions and discrimination adds so much to deterioration in quality of life that it offset all positive factors like less pollution. I see some people crying hoarse over CD parent claiming benefits! The fact is that by exploiting immigrants, the government and Canada has obtained so much benefits, that nothing could offset meagre benefits claimed by parents. I think most CDs are either ignorant or have servile attitude towards whites and have servile attitude towards the masters that they enjoy being kicked on a** but still praise the master. If one pauses and try to use even a very tiny part of their brain, then they would understand that CPP,OAS and GIS are all Ponzi schemes and the last person standing would be begging with empty bowl as has been happening in Greece and soon to be followed in Spain, Portugal and Italy. I can take a little sadistic pleasure that Canada after 15 years would be in the same queue as a beggar nation as Greece and Europe are. I am sure many CDs would jump on me shouting about the abundance of natural resources and all that crap. I would request these people to make a little more intelligent and informative analysis and study of smartness of China before shooting the messenger. By that time, China would be owning all those resources. China has already adopted that strategy and are owning majority of resources in Africa and minority of resources in USA and to a lesser extent in Canada. They have slapped India very hard. Illegal iron ore worth billions have already been shipped to China. However, like a pet dog MMS has been slapped so many times but still goes back to master wagging his tail.
I had stated in past and would repeat again that like in any Ponzi scheme, the person who takes back money first is lucky, others would die waiting worthless paper and hope. I intend to start collecting my CPP the day I become eligible and yes, to hell with penalty in form of reduced CPP.
Good one \"Nightmare\"
NightMare !
Brilliant post.
One of the best piece ever written on this website.
Regards,
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Sunny Leone a true Canadian DESI now back in India !.
Quote:
Originally posted by Nightmare
Benefits of OAS and GIS cannot be passed on to surviving spouse. A few years back I had written about the Median age of Indian being very low compared to Whites and I received brickbats for the same. Further, many argued about food, air and water quality i.e. “less pollution” would help longevity of Indian people residing in Canada. Such argument or logic is ridiculous and wishful thinking. It was my stance and is now also. What we forget is that the CD population go through a very harrowing and humiliating experience due to extreme discrimination in every aspect of our life. The menial job, mental tensions and discrimination adds so much to deterioration in quality of life that it offset all positive factors like less pollution. I see some people crying hoarse over CD parent claiming benefits! The fact is that by exploiting immigrants, the government and Canada has obtained so much benefits, that nothing could offset meagre benefits claimed by parents. I think most CDs are either ignorant or have servile attitude towards whites and have servile attitude towards the masters that they enjoy being kicked on a** but still praise the master. If one pauses and try to use even a very tiny part of their brain, then they would understand that CPP,OAS and GIS are all Ponzi schemes and the last person standing would be begging with empty bowl as has been happening in Greece and soon to be followed in Spain, Portugal and Italy. I can take a little sadistic pleasure that Canada after 15 years would be in the same queue as a beggar nation as Greece and Europe are. I am sure many CDs would jump on me shouting about the abundance of natural resources and all that crap. I would request these people to make a little more intelligent and informative analysis and study of smartness of China before shooting the messenger. By that time, China would be owning all those resources. China has already adopted that strategy and are owning majority of resources in Africa and minority of resources in USA and to a lesser extent in Canada. They have slapped India very hard. Illegal iron ore worth billions have already been shipped to China. However, like a pet dog MMS has been slapped so many times but still goes back to master wagging his tail.
I had stated in past and would repeat again that like in any Ponzi scheme, the person who takes back money first is lucky, others would die waiting worthless paper and hope. I intend to start collecting my CPP the day I become eligible and yes, to hell with penalty in form of reduced CPP.
Very good post
I have 2 questions
1. Is it mandatory to contribute in CPP while working in Canada?
2. If so then how early I can withdraw funds from CPP?
There is no way around for salaried persons – you have to contribute for the CPP. It is similar to paying high taxes, insurance etc. Sometime, we have to pay more and accept less in return due to no other option.
I think it is simple – if you can make more money and have a better life (present and future) somewhere else, just move on. This land (and any other too) is for those who are making good money.
For the ponzi scheme example, sometimes, we have to live with it. For generations, we have taken care of our parents and in return, the next generation takes care of them. What happens if someone in between goes bad and refuse to take care of his/her parents whereas they have taken a good care of him/her?
I think we have to keep open all options and don’t keep all eggs in one basket.
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A Delhite in Toronto
Quote:
Originally posted by ashedfc
Quote:
Originally posted by web2000
Very good post
I have 2 questions
1. Is it mandatory to contribute in CPP while working in Canada?
2. If so then how early I can withdraw funds from CPP?
True, I fully agree with Nightmare, very good post.
Regarding CPP, as an employee you have to contribute, its mandatory (as equal contribution comes from employee & employer).
For early withdrawal, there is an option at age 60, you can start withdrawing early (though its less than the full potential amount at age 65yrs). There is another advantage of early withdrawal is that "Once you start withdrawing, you are exempt from making any contribution into CPP"... Its a double benefit:
1. You are withdrawing CPP (though a bit less), but its better than waiting till age 65, (who knows how long one is going to live)
2. Withdrawing & at the same time not contributing, almost evens off the difference.
Thanks for the clarification
