How to bring billions in deserved benefits to 99% of Canadians
Table of contents
Why the Canada Pension Plan (CPP) now has a $500 billion surplus
How this surplus could bring huge benefits to 99% of Canadians
Why the financial industry would then lose billions, per year
Why employment for actuaries would then halve
Why Albertans may separate because of this issue
Mainstream media has failed us
Why democracy has failed us
Why other organizations are also mute
How a cover-up costing Canadians hundreds of billions can succeed
What you can do
Introduction
The following information is arguably 1,000 times more educational and impactful than any lecture I ever presented during my 35 years as a professor. It may result in Alberta eventually separating from Canada.
Over the past ten years, as a Professor Emeritus who taught The Mathematics of Finance, I have studied the Canada Pension Plan (CPP) on behalf of its 22 million contributors and beneficiaries. During this time I stumbled on disturbing details that raise serious questions about how the CPP is being managed and how its investment gains are being shared. The CPP is important. Most Canadians have contributed 10% of their lifetime earnings to the CPP, trillions of dollars. However, by reading below, no one in Canada is overseeing this contribution on your behalf.
CPP Investments’ outstanding performance has created roughly $500 billion in additional wealth beyond earlier projections. Yet millions of Canadians struggling with rising costs of living have seen no benefit from these gains.
If the recommendations below were implemented, millions of floundering Canadians would enjoy a considerable, deserved improvement in their quality of life. However, the overwhelming evidence indicates the selfish interests of Canada’s wealthiest 1% have been favoured over the interests of the other 99%. On this crucial issue, democracy, freedom of press and actuarial science have all been replaced with a deception that is having a profound negative impact on millions of Canadians and our sputtering economy.
The issue goes far beyond pensions. It affects:
the disposable income available to younger Canadians,
the financial security of seniors,
the strength of Canada’s economy.
Albertans’ desire to separate from Canada.
My interest in the CPP is also partly personal. The MacNaughton family has long been connected to the history of the Canada Pension Plan.
My father’s cousin, Charles MacNaughton, served as Treasurer of Ontario from 1958 to 1962. Representing Canada’s largest province at the time, he was substantially involved in the discussions that shaped the framework of the CPP in its early years.
His son, John MacNaughton—my second cousin—later played a major role in transforming how the CPP invests its funds. After the landmark pension reforms of 1997, John became the first President and CEO of the Canada Pension Plan Investment Board, now known as CPP Investments. Before those reforms, CPP contributions were invested mainly in fixed-income securities. Under his leadership, CPP Investments began investing globally in public equity, private equity, infrastructure, real estate, and more. Over the past fifteen years, this strategy has produced the strongest investment results of all the pension funds in the world.
The purpose of this website is simple: to present the evidence clearly and allow Canadians to judge for themselves.
The facts
Over the past fifteen years, CPP Investments has been one of the most successful pension fund investors in the world. As a result, the assets of the CPP have grown far beyond the levels projected in earlier actuarial reports.
In 2010, according to the Chief Actuary’s 25th Actuarial Report, the CPP fund stood at approximately $134 billion. At that time, the plan was considered fully funded under the actuarial framework, meaning that if the fund earned an average investment return of about 6% per year (the blue box below), it would be sufficient—together with future contributions—to sustain CPP benefits for the next 75 years.
The actuarial projections in that report suggested that, for long-term stability, the fund would reach about $366 billion by December 31, 2025, as shown in the red box.
However, the actual outcome has been dramatically different. According to the CPP Investments website, the fund reached $781 billion on December 31, 2025—more than double the level projected in the earlier actuarial scenario.
Another key component of the actuarial projections is Net Cash Flow—the amount remaining after contributions from working Canadians are reduced by pension payments to retirees. When estimating this figure, actuaries consider long-term demographic and economic factors including inflation, immigration, fertility rates, employment levels and mortality rates.
Over the past fifteen years, these demographic projections have been remarkably accurate restuling in a relatively minor surplus in the fund.
What has differed substantially from earlier projections is the investment performance of CPP Investments.
For the past fifteen years, CPP Investments has achieved an average return of roughly 10% per year. Independent pension industry research supports this strong performance. According to Global SWF, a New York–based sovereign wealth and pension fund research organization, CPP Investments ranked first among 300 major pension funds worldwide for the ten-year period ending in 2022, with an average annual return of 10.9%.
The chart below, based on Table 10 of the Chief Actuary’s 32nd Actuarial Report, illustrates how the CPP fund has grown far beyond the levels anticipated in earlier projections.
With an ongoing 10% return, the fund’s surplus will mushroom by $54 billion in 2026, $61 billion in 2027, and so on.
CPP Investments has several structural advantages that allow it to pursue higher long-term returns than many institutional investors. These include its very long investment horizon, its global diversification, and its large exposure to private markets. For example, the fund’s private equity portfolio—approximately one-third of total assets—reported a 34% return in 2022, according to the CPP Investments 2022 Annual Report on page 43.
For example, consider Ontario’s 407-ETR, a privately operated toll highway. CPP Investments owns approximately 44% of the company that operates the road, making it one of the largest shareholders.
The Pennsylvania Turnpike is frequently described as the most expensive toll road in the world. It charges roughly 20 cents USD per kilometre. In contrast, tolls on the 407-ETR can reach as high as $0.88 USD per kilometre, which is over four times higher.
Despite these higher tolls, the highway is widely used because it can significantly reduce travel time for commuters in the Greater Toronto Area. For thousands of drivers per day, the time savings outweigh the higher cost.
CPP Investments has also indicated publicly that it expects the fund to continue expanding rapidly. In a March 7, 2026 article in the Globe and Mail, they anticipate increasing the fund from roughly $780 billion in 2026 to $1 trillion by 2028. This implies an annual return of approximately 13% over those two years.
By forecasting using the return of the last 15 years, (as pension experts recommend), the amount needed to meet all CPP pension commitments becomes much less. This means our CPP fund is closer to 300% funded, with a $500 billion surplus.
To put the scale of these figures into perspective:
A $500 billion surplus means each CPP would represent roughly $23,000 per CPP contributor or pensioner.
$500 billion is comparable to about $5 trillion in the United States on a relative scale.
$500 billion is approximately 18 times Canada’s average annual federal deficit (excluding pandemic years).
$500 billion is equivalent to 36% of Canada’s total federal debt.
These figures raise an important public policy question: how should the financial gains be interpreted, and how should they ultimately benefit the Canadians whose contributions were used to create this windfall?
In most pension systems, when assets substantially exceed the amount required to meet future obligations, a portion of the excess is distributed to members. A common benchmark in pension practice is that a surplus of roughly 25% above liabilities should trigger surplus sharing.
For example, in 2000 the Ryerson University Pension Plan (now Toronto Metropolitan University) had a surplus of approximately 18%. At that time, the Canada Revenue Agency required that steps be taken to reduce the surplus, and members of the plan—including professors like myself—received distributions of up to $20,000 each.
The CRA has no jurisdiction over the CPP. Nor does our Auditor-General. Pension experts recommend every pension fund has a Board of Governors, primarily made up of contributors and pensioners. The CPP has no such Board. Our Chief Actuary has full control over 10% of the lifetime earnings of most Canadians. Yet he has never mentioned “surplus” in thousands of pages of reports on the status of the CPP. For reasons explained below, it appears he has attempted to bury a $500 billion surplus.
Consider the Public Service Alliance of Canada (PSAC). It represents approximately 245,000 members, including federal public service employees, university staff, and other public sector workers.
Our Chief Actuary also oversees the PSAC pension plan. He has stated,
“Federal rules say the plan cannot hold a surplus of more than 125% of liabilities, defining such amounts as a ‘non-permitted surplus’”.
Why would he never acknowledge the CPP’s 200% surplus but announce the PSAC’s 25% surplus as a “non-permitted surplus”? Below will explain.
A central concern in many public pension systems is intergenerational equity—ensuring that different generations of contributors and beneficiaries are treated fairly.
Since 2016, approximately one million low-income Canadian seniors have died. Many of these individuals lived on very limited incomes. If some of the CPP’s surplus, which was created using their money, was distributed to them, they could have enjoyed a longer life with higher quality. One study found that people in the highest income quintile live 13 years longer than those in the bottom quintile.
Because politicians and our Chief Actuary refuse to follow standard pension practice, many of these one million low-income seniors died earlier than they should, with a lower quality of life.
With CPP reform, 99% of Canadians would win but Canada’s financial industry would lose
Canada’s financial industry corners 47% of all corporate profit in Canada but only contributes 7.4% to our GDP. For comparison, the US financial industry only collects 25-30% of all corporate profit. Europe’s average is 20-30%.
The industry is awash in cash. In December 2025, the Globe and Mail reported that Canada’s big banks distributed $27.3 billion in bonuses. An estimated 15,000 bank employees received $1.8 million each on top of their salaries.
Meanwhile, millions of Canadians are struggling.
A recent study found that 43% of Canadians are within $200 of insolvency. On March 9, 2026, The Globe and Mail wrote that “Household debt in Canada as a percentage of GDP is 103 per cent, second-highest among 34 OECD countries.”
Another study indicates “54% of Canadians currently have credit card debt, with 72% of Millennials (ages 29-44) carrying such debt.” The credit card interest rate is roughly 20%.
Food bank usage hasdoubled since 2019.
Young Canadians are struggling. Greenshield research confirms this.
“TORONTO, Nov. 19, 2025 /CNW/ - A new survey from GreenShield, Canada's only national non-profit health care and insurance organization, conducted in partnership with Mental Health Research Canada (MHRC), reveals that over 80% of Canadian youth are overwhelmed by stress and anxiety about their future. Economic pressures – including job insecurity and the rising cost of living – are key drivers.”
Millions of struggling Canadians could gain huge benefits from the CPP’s surplus and potential. If they were aware that the CPP now has a $500 billion surplus and CPP Investments will likely continue investing with a 10% return, they could benefit in three ways.
Benefit # 1 - Voluntary Contributions to CPP Investments
In 2011, when CPP Investments had averaged roughly 6% annual returns for several years, then–Finance Minister Jim Flaherty examined the possibility of allowing Canadians to make voluntary investments through CPP Investments. Documents obtained through Access to Information requests indicate that the financial industry strongly opposed the idea, arguing that many Canadians might shift their savings into CPP Investments if it offered reliable returns at relatively low cost.
The power of this idea becomes clearer when we consider the effect of compound interest. Albert Einstein is often quoted as saying, “Compound interest is the eighth wonder of the world.” Whether or not he actually said it, the mathematics behind the statement is undeniable.
Consider a simple example. Suppose a 25-year-old Canadian voluntarily invested $1,000 per year with CPP Investments. Over forty years, the total contribution would be $40,000.
If CPP Investments continued earning approximately 10% annually, similar to its average performance over the past fifteen years, that investment would grow to roughly $540,000 by age 65.
If that amount were converted into retirement income, it could generate approximately $54,000 per year equivalent to roughly $25,000 per year in today’s purchasing power.
If the same individual invested $1,000 per year through conventional financial products earning about 5% annually, that investment would grow to only about $160,000 by age 65.
That amount would produce an annual retirement income of roughly $3,600 in today’s dollars—14% of what investing with CPP Investments might give him.
Allowing Canadians the option to invest voluntarily alongside CPP Investments could therefore provide an additional pathway for long-term retirement savings—one that benefits from the scale, diversification, and professional management of one of the world’s largest pension funds.
If Canadians were allowed to make voluntary investments through CPP Investments, many would choose this option because of the fund’s long-term investment performance and relatively low operating costs. As a result, considerable savings that currently flow into traditional wealth-management products would shift toward a publicly managed investment vehicle like CPP Investments.
Such a change could have important implications for Canada’s financial sector, particularly for wealth-management businesses that earn substantial revenues from managing individual retirement savings.
Any voluntary investment program would likely require reasonable limits. CPP Investments is designed to manage the assets of the Canada Pension Plan, and absorbing extremely large additional inflows could make it more difficult to deploy capital efficiently. For that reason, policymakers might consider placing an annual cap on voluntary contributions—for example, allowing Canadians to invest up to $1,000 per year through CPP Investments. Because $1,000 per year is below the TFSA limit, the estimated $54,000 annual income in retirement could be withdrawn tax-free.
This legislation would help neutralize Canada’s growing income inequality.
Overall, allowing voluntary contributions to CPP Investments could provide Canadians with an additional low-cost, long-term investment option while strengthening retirement savings for millions of households. However, the financial industry’s considerable profits would shrink.
Benefit #2 - Give Canadians’ CPP contributions CPP Investments’ likely 10% return
If CPP Investments continues to achieve investment returns near its long-term average of about 10%, the retirement benefits generated by Canadians’ contributions could be dramatically larger than what current projections imply.
Consider a typical example. A 25-year-old Canadian earning $60,000 per year in 2026 dollars is required to contribute $3,362 annually to the Canada Pension Plan. His employer contributes the same amount on his behalf, bringing the total annual contribution to $6,724.
Over a working career of roughly forty years, these contributions accumulate and are intended to fund the worker’s retirement pension.
The graph below compares two scenarios:
Scenario A: Contributions effectively grow at approximately 10% per year, reflecting the long-term investment performance of CPP Investments.
Scenario B: Contributions grow at approximately 4.75%, which reflects the effective return the CPP currently gives contributors.
The difference between these two scenarios is enormous.
Key assumptions used in the analysis
A 2% annual inflation rate is assumed throughout the analysis.
A pension of $230,000 per year in forty years would therefore be equivalent to roughly $104,000 in 2026 purchasing power.
A pension of $55,000 per year in forty years would be equivalent to roughly $25,000 in 2026 purchasing power.
Life expectancy is assumed to be age 86, consistent with actuarial mortality projections.
Any remaining balance in the account at death would remain to support a possible surviving spouse, who would receive a pension equal to 60% of the partner’s pension up to the CPP maximum, consistent with current survivor benefit rules.
Conclusion
Under these assumptions, a middle-income young Canadian could receive a CPP pension equivalent to about $100,000 per year in 2026 dollars.
By comparison, the pension currently projected under existing CPP formulas is closer to $25,000 per year in today’s purchasing power.
In other words, the retirement income generated by the same contributions could be more than four times larger if contributions earned the full investment return achieved by the CPP fund.
Broader implications
If young Canadians believed that their CPP contributions could generate retirement income on this scale, it could significantly change how they plan their financial lives. Many might elect decide to:
Stop investing the recommended 15% of their income towards retirement,
Stop contributing to other pension plans (This would also eliminate a costly contribution-matching obligation for all employers.)
Stop purchasing life insurance (The CPP pays a 60% survivor pension—worth ~$60,000 per year in 2026 dollars).
The financial industry could see a reduction in revenue investment management fees, pension fund products, and life insurance sales, if more Canadians relied primarily on the Canada Pension Plan for their retirement security.
However, the financial sector could benefit in other ways. If young Canadians had as much as 15% more disposable income, many would be better positioned to save for major purchases such as a home or condominium. Increased homeownership would likely lead to greater demand for mortgages, creating additional opportunities for financial institutions to generate lending income.
If our government notified young Canadians they will likely be eligible for a $100,000 CPP pension in 2026 dollars, the improvement in their mental health might be substantial. They could be annually notified.
If the CPP became a Direct Contribution (DC) pension plan, it would be the safest, most profitable pension plan in Canada
The CPP should switch from a Defined Benefit (DB) plan to a DC plan. With a DC plan, the plan member receives the return on his contributions that the investor achieves, not the 4.75% return the CPP now gives us.
With most DC plans, this involves considerable risk because the investor could flounder. However, because of CPP Investments’ history of success and its many advantages over other investors, that risk is near-zero. Meanwhile, the upside of such a policy is the pensioner will likely receive four times the pension.
In the private sector, almost all companies have phased out their DB plans and switched to a DC plan.
Benefit # 3 - The CPP’s surplus - help for millions of Canadians who need immediate assistance
Recall that 43% of Canadians are within $200 of insolvency, 54% have credit card debt and the CPP has a 200% surplus. If our Chief Actuary followed standard pension practice and the principle of generational equity, he could, with no risk to future pensions, distribute some of the CPP’s $500 billion surplus.
For example, a $200 billion distribution from the fund would provide roughly $10,000 on average to about 20 million Canadians. Such a distribution could have broad economic effects. Additional income in the hands of millions of households would increase spending throughout the economy, supporting improvements in:
GDP growth
productivity
business profits
employment
poverty reduction
charitable giving
Canada’s mounting deficit.
Canada’s struggling young need and deserve these benefits
Younger generations face a wide range of challenges: high housing costs, rising rents, growing income inequality, climate concerns, and increasing financial stress.
Demographic trends also highlight the economic challenges facing younger generations. Since the mid-1970s, Canada’s fertility rate has declined significantly—from about 2.1 children per woman, the level needed to sustain population growth, to roughly 1.25 today. Many researchers attribute part of this decline to the rising cost of living, housing affordability challenges, and economic uncertainty for young families.
Policies that strengthen retirement security and improve financial stability could help address many of these pressures. To deprive Canada’s struggling youth of these multi-billion dollar benefits so that the executives in the financial industry can increase their millionaire wealth is criminal. The enablers of this cover-up should be jailed. However, legally, they probably enjoy complete protection.
Is there a reason against giving these benefits to Canadians? I have emailed these details to hundreds of journalists, economists and politicians. Not one gave a single argument against distributing the CPP’s surplus.
A summary of the pros and cons of revealing the CPP’s $500 billion surplus
Evidence showing the financial industry has orchestrated a CPP surplus cover-up
The financial industry is concerned
In 2016, when Finance Minister Bill Morneau announced underwhelming CPP changes, Janet Ecker, President of the Toronto Financial Services Alliance, expressed relief. She feared significant CPP reforms like voluntary contributions could:
"Undermine a lot of successful, legitimate, (retirement savings) products in the investment industry."
But who should be “undermined”?
Should it be an industry packed with millionaires that already captures 47% of all Canadian corporate profits?
Or should it be the millions of Canadians struggling near insolvency and needlessly investing with low returns towards retirement?
The financial industry should share more profit with non-financial industries
Some economists would suggest, “If a company earns x% of corporate profit, in an ideal world, they should contribute x% to our GDP.” With the financial industry earning 47% of all corporate profit but only contributing 7.4% to our GDP, a reduction in their profit is arguably appropriate.
While the financial industry may lose profit share, with CPP reform, other industries will gain profit share. Canadians will have much more money to spend today instead of investing for tomorrow. This means that, for Canada’s non-financial industries, sales, productivity and profit will increase, along with Canada’s anemic GDP.
Does the financial industry have enough resources to engineer a cover-up?
Our financial industry has both the economic justification and the resources to orchestrate this widespread cover-up. Just 1% of their annual profit is $1.6 billion, equivalent to 160 “packets” of $10 million each. Consider it a business expense with a high return on investment. For example, a $1.6 billion expenditure per year today might result in a $5 billion profit flow increase per year for years to come.
Are banks, the lion’s share of the financial industry, without sin?
Banks in Canada give their customers a sense of professionalism, helpfulness and integrity. Most customers probably leave thinking “Those nice people at my bank would never abuse me.” Yet Canada’s banks have been found guilty of numerous violations, mostly related to not protecting investors.
Violation tracker is a worldwide database summarizing corporate misconduct. Below is a screen capture of a report showing the members of Canada’s financial industry that have been found guilty of financial crimes, with the size of the fine shown to the right.
The screen shot above lists the first of 106 violations. For every financial crime committed, estimates vary regarding how many other violations never result in prosecution. Some say the ratio is 1 to 5. Others say 1 to 50. That means that, for each violation listed, there are another 5 to 50 violations taking place that are not being prosecuted.
Bank presidents work hard to satisfy shareholders with higher profits. If secretly abusing customers with no consequences, or periodic fines, will increase profit, bank presidents will sanction such abuse.
With billions of profit dollars at stake if the news of the CPP’s surplus is revealed, it is reasonable to suspect Canada’s financial industry engineered a media blackout and somehow silenced all politicians, except Premier Smith, regarding the CPP’s $500 billion surplus.
A widespread cover-up involving numerous individuals and organizations
Based on their mandate, the actuarial profession, mainstream media, the CBC, all politicians and numerous otherwise benevolent organizations should be jubilantly notifying Canadians regarding the positive benefits available from the CPP’s $500 billion surplus. And they should be harassing politicians to legislate the CPP reform that could bring immense benefits to millions of struggling Canadians. Here is evidence that shows they have all abandoned their admirable mandate.
On March 10,2026, former CBC journalist Travis Dhanraj appeared before a parliamentary committee regarding the state of journalism and media in Canada. He said that when he raised concerns with the CBC about editorial control and newsroom practices, he faced disciplinary action and eventually left the organization. He recommended parliament investigate whether contacts between the Prime Minister’s Office and CBC management influenced editorial decisions.
The at-risk actuarial profession
As shown above, the financial industry has much to lose. However, they could not orchestrate such a widespread cover-up without collusion from the actuarial profession.
The actuarial profession also has much to lose. If younger Canadians learn a $100,000 CPP pension in 2026 dollars is likely, they will refuse to contribute to other pension funds. The need for other pension funds, and hence actuaries, could plummet.
Also, consider life insurance. Is it necessary? The CPP now provides surviving spouses with as much as 60% of their partner’s pension, which eventually could be as much as $60,000 per year, indexed. Using life insurance to match this benefit could cost as much as $1 million. With the CPP, it is free.
Roughly 50% of employment for actuaries is in the pension fund and life insurance business. This helps explain why the ten senior actuaries I consulted have all denied the CPP’s $500 billion surplus with evasive arguments.
One of Canada’s top actuaries is Malcolm Hamilton. In 2020, he contacted me and we debated these issues, first, in person and then via email for roughly 40 hours. He tried to silence me with vacuous arguments. Was he hired by the actuarial profession to convince me to silence my claims? Since our meeting, the CPP’s surplus has increased by another $300 billion.
One of the actuaries I consulted did have a conscience. He stated,
“Our Chief Actuary has done what pension actuaries frequently do - invent measures that are easily manipulated so that actuaries can control the narrative and hide things at will...I must remain anonymous because I am not allowed to criticize my fellow actuaries.”
As someone who has studied thousands of pages produced by our Chief Actuary, I heartily concur with this disappointing assessment of the individual who Canadians trust to safeguard our trillions of dollars in CPP contributions.
Our self-serving Chief Actuary will invoke confusing terms like sustainability, minimum contribution rate, steady-state financing, pay-as-you-go, and more. The table below shows why any of these confusing terms will not overcome the truth:
No matter what confusion our deceptive Chief Actuary presents, he cannot avoid the facts in the table above.
How the actuarial profession betrayed Premier Smith and all Albertans
Three years ago, I sent these details to all Premiers and their Finance Ministers. Only Premier Smith of Alberta has acted. She has demanded Alberta’s fair share of our $781 CPP fund. It is roughly $140 billion, of which $70 billion is surplus. When she receives it, her Alberta Pension Plan website states she will:
Fully match all future CPP pension obligations,
Give Alberta seniors as much as $10,000 each,
Reduce contributions by $1,425 per worker (and matching employer) annually,
Invest some of the remaining funds in Alberta’s economy.
If Alberta receives its fair share of the CPP, it is unclear if Albertans will be able to continue to invest their contributions with CPP Investments, the best pension fund investor in the world. This type of arrangement - one investor for numerous pension funds - is often done. OMERS, for example, invests contributions for 1,000 individual employers and 600,000 employees and retirees.
Nevertheless, because Albertans deserve the $70 billion in surplus benefits described above, Premier Smith has demanded Alberta’s share, even though contributions will be possibly invested with a return likely far inferior to CPP Investments probable 10% return.
In 2023, she hired Lifeworks, Canada’s largest actuarial firm, to calculate Alberta’s fair share of the fund.
The at-risk actuarial profession and financial industry knew that, if Albertans received these benefits from the CPP’s surplus, soon thereafter all Canadians would demand their fair share. Gradually, millions of Canadians might investigate and then demand the three benefits described above.
That helps explain why, while Alberta’s true share of the fund is roughly 16%, Lifeworks irresponsibly reported Alberta deserves an absurd 53% figure. And then they partnered with our mainstream media to betray Premier Smith, all Albertans and all Canadians.
Below shows how Canada’s mainstream media attributed the 53% claim to Premier Smith, portraying her as unhinged, un-Canadian and uncooperative.
Despite this ongoing disgraceful actuarial and media deception, Albertans know that, if Alberta receives its fair share of our CPP fund, they will receive as much as $10,000 each. Because Ottawa refuses to follow standard pension practice (probably to protect the millionaires in Toronto’s at-risk financial industry), a growing proportion of Albertans are considering separation from Canada. Town Hall Meetings confirm this. A referendum may soon decide this.
Trevor Tombe of the University of Calgary is probably Canada’s most quoted Professor of Economics. He wrote in the Globe and Mail that the idea of an Alberta Pension Plan instead of the CPP was so stupid that you could “drive a truck through the holes” in it.
After the article, I emailed him the above details and copied several of his fellow professors, notifying him that his article was depriving Albertans and Alberta of huge benefits. I told him he belonged on The Reverse Order of Canada List - a list I am compiling of those who have done the most to deprive struggling Canadians of hundreds of billions of deserved dollars.
After receiving my email, he made an about-face. At Alberta’s Town Hall Meetings, he sat beside Premier Smith, educating Albertans about the benefits of an Alberta Pension Plan.
Prime Minister Carney is the lead in this cover-up. Hopefully, he does not want to be known as the Prime Minister who let Canada split in two so that Canada’s wealthiest 1% can become wealthier at the expense of Canada’s 99%.
By March 2026, he had only given Albertans a Memorandum of Understanding and legislation that should help stimulate Alberta’s energy industry. These offerings will have little or no impact on most Albertans. However, if he declared a Canada-wide $10,000 CPP surplus payment, he could likely eliminate any impetus towards separation by Albertans.
An Alberta referendum on separation from Canada, and other issues, will take place in October 2026.
Mainstream media - refusing to publish the most impactful story in Canada in years
As shown above, Canada’s mainstream media colluded with the actuarial profession to mislead Canadians into thinking Premier Smith is unhinged as she, not Lifeworks, wants 53% of our CPP fund. This is reprehensible because Premier Smith is the only senior politician in Canada refusing to join this cover-up.
Canada’s entire mainstream media is owned by the wealthy who dictate what can be published. They give naive Canadians (like me ten years ago) the wrong impression that they are responsibly covering every topic that is newsworthy and impactful to the Canadian public. Is there a more newsworthy, impactful story than:
CPP’s $500 billion surplus can help millions of struggling Canadians
Based on standard pension practice, the CPP’s $500 billion surplus should be distributed. A no-risk $200 billion surplus distribution would give 20 million Canadians $10,000 each, on average. It would also lead to considerable improvements in Canada’s GDP, productivity, employment, business profits, poverty, income inequality, charitable donations and deficit. A recent study indicates 43% of Canadians are within $200 of insolvency. A deserved $10,000 payment would be life-changing.
Moreover, young Canadians no longer need to invest for retirement, buy life insurance or contribute to other pension plans. This is because the CPP will likely give them a $100,000 CPP pension, in 2026 dollars.
With as much as 15% more income available today and news of a secure retirement, young Canadians can shed much of their current anxiety and improve their quality of life. However, the financial industry and actuarial profession would suffer.
Yet the entire mainstream media has refused to publish even the first paragraph of this reality. Two journalists who pushed the issue lost their jobs. In ten years, not once has the phrase “CPP surplus” appeared in mainstream media.
Finance Minister Chrystia Freeland should know about the media industry. At one time, she was Managing Director at Reuters, Deputy Editor at The Globe and Mail, and reported for The Financial Times, The Economist and The Washington Post. She explains why the Canadian media has published nothing on the CPP’s surplus in her book, Plutocrats: The Rise of the New Global Super-rich and the Fall of Everyone Else. The book describes how
“the super-rich have bankrolled a network of conservative think tanks, elite journals and mass media outlets to dominate the debate over economic policy.”
She implies the selfish, wealthy owners of the Canadian media are selectively publishing what is to their advantage, not what is newsworthy.
One mainstream journalist, when I suggested the wealthiest 1% are preventing news that would benefit the 99% from reaching Canadians, responded,
“I do not disagree with you at all. It was challenging working within the confines of mainstream media, and I tried to push as hard as I could to cover stories that are important to 99% of Canadians (and not the wealthy 1%) but parochial, short-term thinking and market-driven journalism often thwarted my attempts.”
It finally took a respected international publication, The Economist, to write:
“Canada’s vast pension fund is gaining even more financial clout. The fund’s portfolio size has more than tripled over the past decade and is going to become only more gigantic.”
And since those words were published in January 2019, the fund has increased by another $400 billion.
Award-winning John Miller was a Professor of Journalism at Ryerson University (now TMU) for 23 years. For 10 years he was Chair of the School of Journalism, Canada’s top-ranked journalism school. Before Ryerson, he was managing editor at The Toronto Star. He feels the current Canadian media is
“cannibalistic...They’re chewing away bone marrow of their own properties in order to make them a profit, so the whole public service aspect of journalism has sort of taken a back seat…the overall quality of journalism has been lost.”
Even “our” CBC has betrayed us
Canadians each pay roughly $40 per year for “our” CBC. In return, we understandably trust the CBC to give us the news that all privately controlled media members refuse to cover. Despite receiving repeated submissions from me, the CBC’s Senior Director of Journalistic Standards and Public Trust, CBC’s Executive Director of CBC News, and CBC’s Ombudsman have responded, saying this story is not “worthy” enough and not “of great public interest.”
The CBC answers only to one individual - our Prime Minister, who has obviously told the CBC to impose a total blackout on any mention of the CPP’s surplus and potential.
Democracy Denied
All federal and provincial politicians have received these details, with a “Shame on you.” tone. Aside from Premier Smith of Alberta, none have acted.
Experts on democracy claim Canada is rife with bribery involving corporations. David Meslin, Canada's foremost expert on democracy, in his book "TEARDOWN," states,
“Our political system has evolved into a sophisticated enabler of mass institutionalized bribery... powerful corporations continue to wield enormous power in our legislatures.”
Duff Conacher of Democracywatch.ca emphasizes the significant financial impact of corporate cash, stating,
"Corporations spend $25 billion annually on their lobbying and promotion efforts."
If Canadians were aware of the above details, based on the considerable benefits described above, in a referendum, probably 99% would vote for a CPP surplus distribution. Moreover, any major federal political party could probably win a majority if they promised to give roughly 20 million Canadians $10,000 each.
The evidence is overwhelming that, on this crucial issue, instead of
“Government of the people by the people for the people”,
Canadians are receiving
“Government of the people by the financial industry for the financial industry.”
What politicians are essentially saying to 99% of Canadians.
Dear Canadians,
Thank you for your mandatory contributions to the CPP. We used your money to double what is needed to fund your pension, resulting in our CPP fund now having a 200% surplus.
All other pension funds distribute a surplus payment when the surplus is a mere 25%. However, we won’t be, even though we know most of you are struggling financially to survive.
Generational equity or fairness to all is the admirable goal of all pension fund managers. We know we are grossly ignoring this concept. Because we have ignored it, 20 million Canadians have not received a deserved $10,000 payment from the surplus. Such a surplus distribution would bring huge benefits to millions of struggling Canadians and our sputtering economy but we don’t care.
It gets worse. Since 2016, one million low-income seniors have died, never receiving their deserved $10,000. Numerous studies show that our failure to follow standard pension principles means many of these struggling seniors died earlier than they should, with a lower quality of life. That is on us but few people know because the media, controlled by the wealthy, and our CBC, controlled by us, will not report it.
We could let you young Canadians know that a $100,000 CPP pension in 2026 dollars is probable but then the financial industry would lose. And if you voluntarily contributed just $1,000 per year, $40,000 in total, to CPP Investments, you would likely have $542,000 by age 65 whereas, with the financial industry, you would only have $161,000. The efforts made by the financial industry to suppress this wonderful news is colossal but secretive.
We don’t care. That is because such a surplus distribution would lead to our greedy financial industry eventually losing a small portion of its gigantic profits. We have decided to protect the 1% of Canadians in the financial industry, mostly millionaires, and let the remaining 99% of Canadians, most who are struggling, continue to suffer.
How do we defend ourselves? We told Professor Macnaughton that our CPP fund needs to accumulate a large surplus in case CPP Investments flounders. We know. With the fund now having $500 billion more than our Chief Actuary claimed is needed, the probability of CPP Investments floundering so badly that CPP pensions will not be paid is an estimated 0.001%.
Nevertheless, instead of distributing the surplus, we have decided to protect future CPP members by guarding against this improbable outcome. (We claim this is the reason but the real reason is massive pressure and “incentives” from the financial industry to remain silent. They are very convincing. They got all three federal parties to collude on this crucial issue. Democracy is being defied, but who cares?)
If we keep ignoring the CPP’s surplus as it mushrooms, someday Canadians will wake up and protest. Then, your grandchildren will possibly receive $1 million each in cash from the CPP’s surplus even though they only contributed a tiny fraction of that.
However, you may not have any grandchildren. Canada’s fertility rate is now half what it needs to be for a stable population. Experts claim this is because younger Canadians are so financially deprived they can’t afford to have children. The CPP’s surplus could help fix that.
Good luck with the 43% of you who are near insolvency. Food bank usage has doubled but they should still have something left for you.”
Sincerely,
Your inattentive MP
Numerous organizations with an otherwise benevolent mandate are complicit
The Canadian Association of Retired Persons, CARP, is Canada’s most influential advocate for seniors. In 2018, based on my research, their advocates asked Finance Minister Morneau to eliminate a vicious 76% clawback on low-income seniors. He listened and, in his March 2019 Budget, he eliminated the clawback. Low-income seniors now receive $440 million more per year in GIS funding. Mr. Morneau has stated, “CARP has 330,000 members and 98% vote. We listen.” CARP is the most influential advocate for seniors in Canada.
CARP’s website states,
“Time and time again our members tell us that financial security is their top concern. Pension protection is a concrete way to effect real change for seniors at no cost to taxpayers.”
Yet, despite the fact that, based on standard pension practice, seniors deserve $60 billion from the CPP’s surplus, CARP has tried very hard to suppress news of the CPP’s surplus. Recall the graphic above that showed several respected media members falsely depicting Premier Smith as unhinged. It was taken from CARP’s website.
Despite our successful partnership in eliminating a 76% clawback, CARP did not respond to me for years regarding these details about the CPP’s surplus. I even offered to debate the existence of the CPP’s surplus and potential with any actuary CARP chose, in a CARP webinar.
CARP’s failure to advocate for seniors has had devastating consequences. With a no-risk $200 billion surplus distribution, Canada’s seniors would receive roughly $60 billion in total, $10,000, on average to each of six million seniors. CARP’S 300,000 members alone would receive $3 billion. Yet, CARP has remained suspiciously silent. They are acting as if the financial industry has given them a multimillion-dollar annual donation with one condition - Never mention the CPP’s surplus and potential.
When I threatened to add CARP executives to my Reverse Order of Canada List, I finally received a response of “We never knew.” Then CARP sent me an evasive email pathetically defending their inaction. CARP would threaten a libel lawsuit for defamation if my Reverse Order of Canada List threat was based on false claims.
The influence of the financial industry must be enormous. I have sent these details to CANAGE, CFIB, Canadian Chamber of Commerce, United Way, Generation Squeeze, Democracywatch.ca, Evidence for Democracy and many more. I suspect the financial industry has accompanied their annual “donation” with a message like the following:
“Please meet your mandate and advocate strongly against any injustice you find. However, never mention the CPP’s surplus. If you do, your annual donation stops.”
When these otherwise reputable organizations never mention any existence of a cover-up, Canadians understandably conclude they are not being abused. If CARP, for example, indicates they are doing everything possible to advocate for deserved benefits for seniors, Canadians conclude that it must be true. This makes the job of the whistleblower much more challenging.
How can such a widespread cover-up succeed?
While the evidence is overwhelming, as soon as it is suggested that hundreds of Canadians must be complicit in this cover-up, most associates become highly skeptical. How could our actuarial profession, mainstream media, CBC, all MPs, all MPPs (except Premier Smith), and numerous otherwise benevolent organizations abandon their mandate, thereby abusing 99% of Canadians, most struggling?
Here is how and why this cover-up has succeeded:
Canada’s top politicians claim manipulation by the wealthy is prevalent.
Prime Minister Carney, in his book VALUE(S), describes Canadians as victims of:
"Twisted economics, an accompanying amoral culture, and degraded institutions whose lack of accountability and integrity accelerate the system’s dysfunction."
In her book, PLUTOCRATS, Finance Minister Chrystia Freeland highlights the prevalence of elite attempts to use political influence for personal gain, stating,
“In an age of super-wealth, we need to be constantly alerted to efforts by the elite to get rich by using their political muscle to increase their share of the pre-existing pie, rather than adding value to the economy and thus increasing the size of the pie overall.”
Pierre Poilievre asserts that "Our system is broken.” and “Fire the gatekeepers.", probably alluding to our complicit Chief Actuary and the complicit President of the CBC.
In 2020, Mr. Poilievre responded to my email with the above details.
Three of Canada’s top politicians are very aware that, behind the scenes, democracy is losing out to wealthy interests. It is deeply troubling that they all ignore this opportunity to right the ship and bring huge benefits to 99% of Canadians. Even our leftwing NDP remains mute.
It appears that all three parties have agreed to remain mute. On such a crucial issue, for ten years, why has the Conservative and NDP parties never mentioned the CPP’s surplus when it could help them overcome the Liberal government’s stranglehold? The tentacles of the financial industry must be enormous but, unlike the US, under-the-radar.
One argument our MPs may have fallen for is:
“Pension fund mathematics is complex. Trust our actuaries. They advise keeping any CPP surplus for a rainy day.”
With:
trillions of Canadians’ dollars contributed,
an irrefutable $500 billion, 200% CPP surplus,
Standard pension practice giving a surplus distribution when the surplus is 25%,
Alberta possibly separating because of this issue,
The financial industry losing billions if the CPP’s surplus becomes known,
Actuarial employment likely halving if the CPP’s surplus becomes known,
Our Chief Actuary never audited,
Huge benefits available to 99% of Canadians,
No argument against distributing the surplus…
Politicians, our supposed watchdogs, need to step up, investigate and act, not ignore such a life changing topic for millions of struggling Canadians.
It appears our financial industry has convinced all three party leaders and their sycophantic MPs to remain silent regarding:
this no-risk substantial solution to the woes of 99% of Canadians, most who are struggling,
this solution to our anemic GDP, productivity, unemployment, income inequality and deficit problems,
our mainstream media refusing to publish the most newsworthy, impactful story in Canada in years,
our Prime Minister vetoing our trusted CBC from publishing this story,
Alberta soon possibly separating from Canada because Ottawa refuses to follow standard pension practice.
I have recently received an email from Finance Minister Freeland and an email from Kristen Underwood, Canada’s Seniors and Pensions Policy Secretariat. They each gave a pathetic defence of their inaction on such a crucial issue claiming we need to let the surplus accumulate for the influx of baby boomers retiring (already accounted for) and a downturn in investment success. However, there was no mention of “economic armageddon” or the damage a CPP surplus distribution could impose on the financial industry and actuarial profession.
It appears Canada’s party leaders and their MPs decided to “drink the Kool-Aid” and abandon all principles of democracy. They also ignored a giant RED FLAG.
If the financial industry has told politicians that CPP reform would be detrimental to Canadians’ overall welfare, why do Canadians not see that argument published anywhere in our media? Moreover, why has the most newsworthy, impactful story in Canada in years never been published?
On this crucial issue, Freedom of Press is non-existent, even with our CBC. Despite this RED FLAG, all our politicians remain pathetically inert.
Why would they do this? Just 1% of the financial industry’s annual profit is $1.6 billion. Please connect the dots.
MPs must obey their party leader
With a deserved $200 billion CPP surplus distribution, every MP, (excluding Quebec with their QPP), would see the constituents in their riding receive roughly $750 million in total, $10,000 individually. This would lead to considerable economic stimulation for their riding and a reduction in poverty for their struggling constituents. Yet all MPs remain silent regarding this life changing topic.
However, MPs have little choice. Andrew Coyne, in his book, THE CRISIS OF CANADIAN DEMOCRACY, shows that all MPs must now follow their party leader or risk being ejected from the party, as Jane Philpott experienced because she was too ethical.
Over the last seven years, I have presented the above findings to my four MPs. They all agreed with the evidence and promised to forward the details to their party leader. That was years ago.
It is unthinkable but should be mentioned. Did all 340 MPs receive an under-the-radar bribe from the financial industry to remain silent regarding the CPP’s surplus? This would explain why all three parties refuse to even discuss the CPP’s surplus. The optics indicate this may be true. If so, MPs should be ashamed. If not, this suggestion may force them to finally act.
Conspiracy theories are usually unfounded
In 2026, when anyone introduces a conspiracy theory, there is a knee jerk reaction to immediately reject it. This is probably because most conspiracy theories are baseless, with no concrete evidence to back them up.
The increase in sophisticated scams has also made Canadians cautious as they deal with the internet. The Delete key is often pressed even before one sentence has been read.
Meanwhile, with the CPP, the following is fact, not theory:
The CPP holds 10% of the lifetime earnings of most Canadians.
Our CPP fund was 100% funded in 2010.
Because CPP Investments has averaged a 10% return for 15 years, our CPP fund now has a $500 billion surplus.
The CPP has a 200% surplus. When a pension fund has a 25% surplus, it should be distributed to avoid generational inequity.
A reasonable, no-risk $200 billion surplus distribution would give 20 million Canadians $10,000 each, on average, and a substantial stimulation to our anemic economy.
The CPP could be reformed to likely give young Canadians a $100,000 CPP pension in 2026 dollars. Knowing this, young Canadians would stop investing for retirement, stop buying life insurance and stop contributing to other pension plans. The financial industry would then lose billions of dollars per year.
Our Chief Actuary, who has complete control of the CPP, is in a conflict-of-interest position as revealing the CPP’s surplus would be detrimental to future employment for actuaries.
Our entire mainstream media, including our CBC, have imposed a veto on publishing the most newsworthy story in Canada in years.
Almost half of Canadians are struggling, living paycheque-to-paycheque.
Think tanks that will not reveal their funding garner undue attention
Even though think tanks will not reveal who funds them, politicians listen to think tanks. They are packed with unethical, talented, educated individuals who are paid handsomely to spread convincing misinformation that favours the wealthy. Their advocacy is based on what their concealed donors want, not what is the truth. For example, the C.D. Howe Institute recently published a paper that states
“Uncertainties lie ahead for the Canada Pension Plan that could lead to higher contribution rates or lower benefits.”
Thousands of paid, talented lobbyists can easily access naive politicians
Lobbyists are funded by private interests to convince politicians that certain policies (that are beneficial for who funds them) should be adopted. Lobbyists are all handsomely paid to forget the needs of the general public and focus only on the needs of who pays them. Using lobbyists, corporations pay billions of dollars per year to convince politicians that their recommended policy is best for all of Canada. Regrettably, near-zero lobbying is done on behalf of the less fortunate. A poverty activist or justice-seeker has little chance of accessing politicians regarding justice for them.
The official Lobby Register of Canada shows us that
Thousands of lobbyists operate in Ottawa,
They conduct tens of thousands of meetings with government officials each year,
Financial institutions, banks, insurance companies, and investment firms are among the most active sectors.
Lobbyists acting for the financial industry are responsible for the advent of RRSPs’, TFSAs and RESPs. It is a win/win. Canadians have invested $2.7 trillion in these three tax-avoidance vehicles, resulting in an annual income for the financial industry of roughly $27 billion per year. And if an investor buys a GIC with, for example, a 3% return, banks invest his GIC money in mortgages, yielding, for example, a 5.5% return and a 2.5% profit on the spread.
With RRSPs’, TFSAs and RESPs, Canadians also win because they avoid paying taxes while saving towards retirement. Or do they? Who will eventually pay the taxes that are avoided? Canadians will. While the financial industry has gained billions in profit from these vehicles, 99% of Canadians will need to replace their tax savings through other tax collection vehicles.
My MP was the principled Jane Philpott who, at the time, was an independent. Taking an ethical stance, she defied Prime Minister Trudeau’s direction to excuse SNC-Lavalin, guilty of bribery in Libya. She was then ejected from the Liberal Party. After receiving a half hour presentation from me regarding the CPP’s surplus, she stated “Disgraceful lobbyists.”
The at-risk actuarial profession has joined the cover-up
This cover-up of the CPP’s $500 billion surplus would never happen unless the actuarial profession cooperated with the financial industry. As shown earlier, if the news of the CPP’s surplus and potential becomes known, employment for actuaries would halve, because of the decline in the need for pension funds and life insurance.
Media is not delivering the truth to struggling Canadians
Despite repeated submissions from me, our entire mainstream media has never mentioned the CPP’s surplus and potential to solve the problems of 99% of Canadians. As shown above, the story of the CPP’s surplus and potential is arguably the most newsworthy story in Canada in years.
I have approached several social media companies but none will touch the topic, probably fearing repercussions from the financial industry. Finally, local media is now either owned by mainstream media, intimidated by the financial industry or, as I recently discovered, fearful of being sued.
Instead of the truth, our media has betrayed the one politician in Canada who refuses to join this cover-up, Premier Smith.
Numerous otherwise benevolent organizations have joined this cover-up
Why would numerous organizations with a mandate to help the less fortunate abandon their mandate and agree to remain silent regarding this solution to the woes of 99% of Canadians? They are all acting as if the financial industry has stated,
“Here is a generous donation to your cause. It will be ongoing as long as you never mention the CPP’s surplus.”
There is nothing illegal regarding this unwritten agreement. It is not a bribe. In the event of an investigation, participants have little to fear. However, our CRA does frown on non-profits and charitable organizations that publish a mandate, collect membership fees or donations and then ignore their mandate.
Goliath is too powerful
Canadians suspect that, if they offend the perpetrators of this cover-up, they risk job loss (two already have), funding loss, reputation loss and more. They feel that their lone voice would have little chance of achieving success in combatting such a massive cover-up. And it would require hundreds of hours of investigation and advocacy with little chance of success.
As a retiree, I have the time, a professor’s pension, a deep concern for those two million fellow seniors living near the poverty line, and a passion for justice. This quote from The Economist summarizes the injustice.
“The marginal benefit of an extra $1,000 is greater for the poor than the rich. A hungry family might buy food for a month; a banker might blow that amount on a single dinner, not including the wine.”
Recall that 15,000 bank executives recently received a bonus payment averaging $1.8 million each while 43% of Canadians are within $200 of insolvency.
Canadians care. A nearby hospital has 920 unpaid volunteers enrolled to help. If only some volunteers would join the fight to combat this CPP injustice. Politicians should be bombarded Canada-wide with emails shaming them into action. The impact would be 1,000 times more helpful than volunteer work at a hospital.
If young Canadians stop investing, stock prices will decline
Most Canadians educated enough to understand these details have substantial savings invested with the financial industry. If young Canadians decide to stop investing because the CPP will eventually give them a $100,000 CPP pension in 2026 dollars, based on the law of supply and demand, stock prices will decline. This fact has probably deterred some would-be champions of CPP justice from joining the protest.
The “save-it-for-a-rainy-day” argument
Finance Minister Freeland, Kristen Underwood, Director General, Seniors and Pensions Policy Secretariat and CARP’s president have all claimed the CPP’s surplus should remain untouched in case CPP Investments ceases to invest so successfully.
This overzealous caution is absurd. It is akin to a multi-millionaire saying, “I am only spending $5 for lunch at McDonald’s because my portfolio could plummet in value.”
For the next 10 years, based on Table 10 of our Chief Actuary’s 32nd Actuarial Report, contributions to the $781 billion fund will exceed pensions. This means even if CPP Investments achieves a 0 % return for the next 10 years, our CPP fund will increase. A no-risk $200 billion CPP surplus distribution would both leave a $300 billion surplus in the fund and give 99% of Canadians huge benefits.
With authorities only providing this one flimsy reason for not distributing the surplus, Canadians should be very suspicious.
Of course, the real reason authorities refuse to discuss the CPP’s surplus - it would decrease the greedy financial industry’s profit flow, which is in the hundreds of billions of dollars. While probably all politicians know this, only Premier Smith has decided to combat it.
Rampant corruption happens in Canada
From 2011 to 2015, The Charbonneau Commission investigated corruption in the construction industry in Quebec in 2015.
It found that:
construction companies often pre-arranged who would win public contracts.
public works in Montreal were inflated by roughly 20–30%.
Engineering firms and contractors made illegal donations to political parties and used straw donors (employees reimbursed for donations).
Municipal parties were heavily implicated.
Corruption was exposed at multiple levels of government.
Problems were found in municipal governments, engineering consulting firms, construction companies and political party fundraising.
Several public officials were later charged or convicted.
Probably hundreds of Canadians were aware of this corruption. Yet, it was ongoing for 20-25 years. This CPP surplus cover-up has been ongoing for roughly 10 years.
As shown earlier, Canada’s banks, which most Canadians wrongly assess as highly ethical, have all been fined hundreds of millions of dollars for failing at investor protection.
Politicians are our referees in life. Where are you?
In my youth, I played many sports. Without a referee, it was chaos. With a referee, justice almost always prevailed and the better team won.
As we combat our struggles in life, politicians and bureaucrats are our referees. Their decisions can determine our quality of life. If they serve us well, life can be good. If not, life can be difficult.
Imagine Toronto is playing Edmonton for The Stanley Cup and referees are bribed to favour one team. If fans discovered this, the life of the referee would be in grave danger.
Yet the evidence indicates our referees in life - our Prime Minister, MPs, MPPs, actuaries, media, and numerous organizations have accepted the equivalent of a bribe and abandoned 99% of Canadians.
How you can help
As a professor, I received considerable income to work only seven months a year with the protection of tenure. Because Ryerson University matched my contributions towards my $110,000 pension, albeit indirectly, all Canadians paid for half my pension. I feel I owe Canadians and Canada. When I stumbled on this cover-up, combating it is my way of paying back.
I have spent roughly 10,000 unpaid hours trying to bring CPP justice to Canadians. If you agree with the above, on behalf of millions of struggling Canadians, hopefully you will spend a few minutes helping.
Because they were inundated with expressions of concern regarding Bill C-9, the Conservative Party participated in a prolonged filibuster. If enough Canadians similarly inundate politicians about their inaction regarding the CPP’s surplus and potential, we may finally enjoy CPP justice. On behalf of millions of struggling Canadians, I implore you to bombard our politicians with a message like this:
Dear Mr. Carney (or your MP),
Based on the website, www.fixthecpp.ca, the evidence is overwhelming that our CPP now has a $500 billion surplus which could be used to assist millions of struggling Canadians. A no-risk $200 billion CPP surplus distribution could lead to immense relief for the near-half of my fellow Canadians who are now within $200 of insolvency.
Moreover, by notifying young Canadians that a $100,000 CPP pension in 2026 dollars is likely, you could provide financial and emotional relief to Canada’s young who are struggling much more than older Canadians.
Your failure to exploit this opportunity is suspicious. I urge you to right the ship and bring these deserved benefits to Canadians.
Based on Town Hall Meetings, Albertans may separate because you refuse to treat the CPP using standard pension practice.
Sincerely,
Etc.
You may want to tone down the anger. There is no danger. I have sent more strongly worded emails to all MPs before. When one retired professor complains, it is easy to press Delete. If hundreds or thousands complain, it is not so easy.
In 2018, when I told CARP’s two female Vice-Presidents of Advocacy, a lawyer and an accountant, that two thirds of low-income seniors are women, they finally responded and acted against the 76% clawback.
Research shows that, in Canada’s financial industry:
Women only hold 30.8 % of senior management roles.
In finance and insurance, women hold about 26.7 % of board seats.
About 15–20 % of financial advisors in Canada are women.
Women earn around 82 cents for every dollar men earn,
For women under 65, they earn 78 cents for every dollar that men earn.
Probably men are predominantly orchestrating this cover-up. If you are a woman, I urge you to, like CARP’s two female advocates, stand up for women.
The only way to combat this cover-up is to notify all politicians that more and more Canadians are aware of this cover-up and their participation will be known by thousands or even millions.
Mr. Carney is the head of the snake. His email is mark.carney@parl.gc.ca. All other MPs can be found at www.ourcommons.ca/members/en/search.