The following graph was published in the Globe and Mail on June 27, 2023. It shows that CPP Investments has “had the highest returns of any global pension fund. Period.”, averaging a 10.9% return over the last ten years.

Considering CPP Investments' past success, it is highly probable that they will continue to perform exceptionally. They possess several advantages over the average investor, as highlighted in CPP Investments’ 2022 Annual Report.

Notably, during the 12-month period ending on March 31st, 2021, their private equity portfolio, which constitutes one-third of their holdings, yielded an outstanding return of 33.2% (Page 43 of the report). Additionally, their public equity portfolio, comprising 27% of their investments, achieved a remarkable return of 31.6% within the same period.

It is worth noting that CPP Investments owns a significant stake in 407-ETR, a toll road in Ontario known for its high fees. If you search for "The most expensive toll road in the world," you will find The Pennsylvania Turnpike. Surprisingly, 407-ETR charges 2 ½ times what The Pennsylvania Turnpike charges. The exorbitant cost of 407-ETR often leads Ontarians to state “I wish I had a share of 407-ETR’s massive profits.” The good news is that all Canadians can potentially enjoy a share of these profits, as demonstrated below.

No legislation has ever given Canadians a fraction of the benefits described below

Consider the benefits of a low-risk $170 billion CPP surplus distribution.

1. On average, 17 million Canadians would receive $10,000 each.

2. Canada’s GDP would experience a 4% increase.

3. Approximately 150,000 new jobs would be created.

4. Most businesses, excluding the financial industry, would experience an average profit increase of 20%.

5. Income inequality could be significantly addressed (details below).

6. Billions more dollars would be directed towards poverty reduction.

7. Charitable donations for a year would increase by an estimated 10%.

8. Canada’s deficit would decrease by an estimated $50 billion.

9. A surplus of $54 billion would remain in the CPP fund.

Despite extensive consultations with numerous politicians, journalists, actuaries, and economists, none have provided any reasons to withhold these benefits from deserving Canadians.

It is worth noting that concerns about inflation due to a $170 billion surplus distribution are valid at present. However, it is anticipated that by the time CPP surplus cheques are ultimately issued to Canadians, inflation will likely be under control, and Canada may even face an economic recession. In such circumstances, both Canadians and our economy would greatly benefit from such a substantial stimulus package.

A surplus distribution from the CPP is long overdue. An important precedent was set in 2000 when the Ryerson University Pension Plan, with a modest 18% surplus, was ordered by the CRA to distribute the surplus. As a result, my colleagues and I received payments of up to $20,000 each.

Presuming an ongoing 6% investment return, the CPP’s surplus is 72%. However, reasonably presuming CPP Investments will continue to achieve a 10% return, the surplus mushrooms to 300%. Please compare Ryerson’s 18% surplus and a $20,000 payment to the CPP’s 300% surplus and a zero payment.

Given that there is no risk to future pensions and standard pension protocol demands a surplus distribution, why are Canadians not receiving a surplus payment from the CPP?

The CPP can substantially solve income inequality, but the financial industry would lose.

Undoubtedly, the remarkable success of CPP Investments poses a threat to the financial industry. In 2016, after Finance Minister Morneau introduced lacklustre, unremarkable changes to the CPP, the industry's representative, Janet Ecker, expressed relief, stating  

“the worry was it [CPP legislation] would undermine a lot of successful, legitimate, (retirement savings) products in the investment industry”.

Who should be “undermined”? Should it be the greedy, highly profitable financial industry or the millions of hardworking Canadians, who are struggling to make ends meet? Regrettably, Mr. Morneau chose to undermine Canadians instead of challenging the financial industry, even though it was glaringly evident that there was a blatant conflict of interest. This is because Morneau Shepell, Mr. Morneau’s company, employed 150 at-risk actuaries at the time. The news of the CPP’s surplus would lead to substantial actuarial unemployment.

Although the financial industry oversees $10 trillion in Canadian assets, their website history is suspicious. After the above incriminating quote, their website, Toronto Financial Services Association, TFSA.ca, disappeared. Later Toronto Financial International, TFI.ca, replaced it. Perhaps because it boasted a “partnership with all levels of government” (aka bribery agreements), TFI.ca has now suspiciously disappeared. The wayback machine can confirm this.

A recent survey by Yahoo Canada/Maru Public Opinion found that three out of ten (28%) currently working Canadians do not expect to retire, at any age. However, with reasonable changes to the CPP, this alarming figure could potentially be decreased to an estimated 5%. Additionally, these changes could substantially narrow Canada's widening income inequality gap, increase longevity, improve quality of life, and contribute to improved mental health. Here is how.

Approximately 90% of Canadians earn over $20,000 per year, which means they contribute over $2,000 annually to the CPP, with employer matching. Consider the impact if every Canadian's first $2,000 in CPP contributions were directly invested with CPP Investments, probably earning a 10% return.

While the financial industry would suffer financial losses in the billions of dollars, millions of Canadians would reap the benefits. Here's why:

• With this policy, it is projected that 90% of all 25-year-old Canadians would be approximately $900,000 wealthier by the age of 65. Considering a 2% inflation rate over 40 years, this amounts to roughly $419,000 in today's dollars. With CPP Investments' ongoing 10% return, they would then receive a pension of $41,900 in 2023 dollars, over eight times the current promised pension for their initial $2,000 in contributions, at no extra cost.

• Even those 25-year-olds earning less than $20,000 (10% of the population) would still benefit. For instance, individuals with an income of only $10,000 would enjoy roughly half of these benefits.

• Older Canadians would also benefit. Almost all 45-year-olds, for example, would be $68,000 wealthier by age 65, at no extra cost.

• The impact on Canadian seniors would be significant. Presently, two million out of six million seniors live near the poverty line, with an income of roughly $21,000 per year. With this proposed legislation, nearly all low-income seniors would eventually enjoy a CPP income eight times the current amount, leading to an improved quality of life and increased longevity. Moreover, the escalating costs of senior social assistance, particularly the GIS, would decrease significantly.

• Currently, the financial industry advises every Canadian without a pension plan to invest 10% of their earnings with them for retirement. If young investors were aware that the CPP could potentially provide an additional $900,000 at retirement, most would redirect that 10% towards an improved current quality of life, resulting in better mental health, and reduced anxiety both today and in retirement. However, this shift would lead to billions of dollars in losses for the financial industry as investment for retirement would become much less necessary. (Moreover, the ethics of the financial industry are suspect. A June 19, 2023, Globe and Mail article accused bank financial advisors of recommending risky investments to increase their commission revenue at the expense of the naïve investor.)

• Many Canadians are currently diligently saving their income for a down payment on a home. However, if they knew that $900,000 awaited them at retirement, the need for this uncomfortable savings sacrifice would diminish. Consequently, bank profits from mortgages would decline.

• Those Canadians now contributing roughly 10% of their income to a non-CPP pension plan, with inferior returns, will ask for a contribution reduction if the CPP can eventually cover most of their pension needs.

•  In 2011, when CPP Investments had much lower profitability, Finance Minister Flaherty explored the possibility of allowing voluntary contributions to CPP Investments. Because CPP Investments could probably provide investors with three times the profit over a span of 10 years, billions of investment dollars would shift from the financial industry to CPP Investments.

In conclusion, implementing this policy of investing the initial $2,000 of CPP contributions directly with CPP Investments would result in significant benefits for Canadians, at no extra cost, while causing substantial losses for the financial industry. This is because millions of younger Canadians would decrease their investments with the financial industry, require fewer mortgages, refuse large contributions to their non-CPP pension plan, and choose to invest voluntarily with CPP Investments, if available.

It is important to highlight that the pension approach described, where the performance of investments directly affects the contributor, is known as Defined Contribution. The alternative type of pension fund is called Defined Benefit. It is anticipated that by 2025, all private sector pension funds will transition to Defined Contribution plans. Because CPP Investments is the top pension fund investor in the world, a partial shift to Defined Contribution within the CPP would likely bring more profit to the contributor than any other pension fund in the world.

But why not go even further and invest all annual CPP contributions, including up to $10,000 per contributor, directly with CPP Investments? The reason is that the CPP operates as a pay-as-you-go pension plan, where some contributions are used to support current retirees. Contributions exceeding the initial $2,000 would continue to receive the same pension credit they currently receive.

The proposed policy aims to provide nearly all Canadians with an equal opportunity to reap the rewards of CPP Investments' remarkable performance. CPP Investments stands as a national treasure, with the potential to alleviate the ongoing financial struggles faced by millions of Canadians. However, we find ourselves allowing the corrupt and excessively wealthy financial industry to conceal this crucial information, enabling them to maintain their grip on 47% of corporate profits, while the vast majority of Canadians suffer. It is evident that politicians have a responsibility to expose and counter this disgraceful cover-up. I believe the majority of Canadians would share this sentiment.

Mental health issues are on the rise in Canada. This proposal would bring greater financial stability, eventual retirement security, and more available funds to young Canadians, likely leading to a significant reduction in financial anxiety and mental health challenges.

Both the motivation and the resources

The information presented above underscores the considerable motivation of the financial industry to conceal the existence of a CPP surplus. This raises an important question: Does the financial industry possess the necessary resources to orchestrate such a covert cover-up? Undoubtedly. Their current earnings account for 47%  of all corporate profits in Canada, totaling $125 billion annually. However, the financial industry's contribution to our GDP stands at a mere 7.4%. This shows that they are not pulling their weight in contributing to Canada's crucial but sputtering GDP.

Two greedy complicit industries

To carry out this cover-up, the financial industry relies on assistance from two other industries:

The actuarial industry

Actuaries know that, if CPP Investments continues its current trajectory of success, a 25-year-old Canadian earning, for example $50,000 today, could potentially receive a $100,000 CPP pension in 2023 dollars. The publication of such information would greatly diminish the need for other pension funds and, consequently, impact the demand for actuaries. This explains why the ten top Canadian pension actuaries I consulted have all vehemently denied the existence of the surplus, providing hollow arguments to support their stance.

One actuary, in a moment of honesty, admitted,

“Our Chief Actuary has invented 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.”

After conducting extensive research for seven years, I wholeheartedly agree with this damning assessment of our Chief Actuary.

Unfortunately, our Chief Actuary, who oversees trillions of our CPP contribution dollars, is accountable to no one. If you were a member paying fees to your local tennis club, you would likely receive audited financial statements regarding a few thousand dollars. However, our Chief Actuary is not accountable to the CRA, our Auditor General, or a Board of Governors. He defends himself by claiming that periodic peer reviews suffice. This is akin to the fox guarding the henhouse. A CPP Board of Governors, consisting of ethical contributors and pensioners like you and me, would have recommended a surplus distribution years ago. Moreover, Canada’s International Centre for Pension Management logically insists on a representative Board of Governors for every pension fund.

Upon being presented with these details, our Chief Actuary's response was simply, "The CPP is not in surplus. No further comment." He has obviously exploited this lack of accountability to selfishly safeguard the precarious state of his actuarial industry.

The media, including the CBC

Is there any news story that could capture readers' attention more than:

The CPP has a huge surplus. Seventeen million Canadians will soon receive a deserved $10,000 each. The ancillary benefits for Canadians and Canada are immense, as follows…

However, a simple Google search reveals that no article discussing the CPP's surplus, and potential, has ever been published by Canadian media, despite multiple submissions from me.

Award-winning John Miller was a Professor of Journalism at Ryerson University, aka TMU, for 23 years. For ten years he was Chair of the School of Journalism, Canada’s top-ranked journalism school. Before Ryerson, he was Managing Editor of 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.” 

In her book, PLUTOCRATS, Chrystia Freeland, at one time a world-class journalist, describes how

“the super-rich have bankrolled a network of conservative think tanks, elite journals and mass media outlets to dominate debate over economic policy.

Many more incriminating comments from media experts and journalists are here.

The financial industry, with just 1% of their annual profits, $1.25 billion (or $1,250 million), could likely persuade the entire Canadian media to avoid mentioning the CPP's "gigantic" surplus. Why "gigantic"? Perhaps the most respected, unbribable, unbiased publication in the world, The Economist, stated,

“The CPP fund’s portfolio size has more than tripled over the past decade and is going to become only more gigantic.”

This article was published four years ago when our CPP fund was roughly $200 billion smaller.

An even greater disappointment lies with our publicly funded CBC, which refuses to publish anything related to the CPP's surplus and its potential benefits, despite being notified several times. This helps explain why Mr. Poilievre wants to "Defund the CBC." and “Fire the gatekeepers”.

Democracy denied

Any political party that pledged to legislate a $170 billion CPP surplus distribution could secure a majority in an election. As my stepson aptly puts it, "I don't care which party it is. If they promise to give me $10,000, I will vote for them." If Canadians were aware of the above-mentioned benefits, it is likely that 99% of them would support CPP reform, knowing that it would not put future CPP pensions at-risk.

Unfortunately, the performance of all MPs regarding this issue has been profoundly disappointing. In 2019, I shared these details with every MP but received no response. I even had a half-hour presentation with my three MPs, during which they could not provide any valid reasons against CPP reform. Two of them seemed eager, envisioning how such policies could facilitate their re-election. They forwarded the information "to Ottawa," yet there has been no further response.

My third MP was Jane Philpott, who dismissively referred to authors of this cover-up as "disgraceful lobbyists."

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.”

Even the left-wing NDP has failed to address the CPP's surplus and its potential to address numerous troubling issues in Canada. Many policies that could assist the less fortunate are disregarded due to concerns about increasing the deficit. Canada's deficit for the year ending March 31, 2023, amounted to $44.4 billion. However, a $170 billion CPP surplus distribution could decrease our deficit by approximately $50 billion through increased income tax, higher HST revenue, and reduced social expenditures.

Addressing our debt is crucial, as the COVID pandemic has led to a roughly 50% increase in debt, and rising interest rates have made our debt much more burdensome. Regardless of their political philosophy, every political party should vote for extending these CPP benefits, as it would greatly benefit citizens while greatly reducing our debt.

The complicit media understands that Canadians value democracy. To retain viewership, they resort to false sensationalism, creating topics that incite naive Canadians and divert attention away from much more impactful matters like the CPP surplus.

For instance, throughout spring 2023, there have been numerous articles about Chinese interference in Canadian democracy. The table below summarizes how the media is failing struggling Canadians by focusing on trivial issues instead of crucial issues.

Canadians are alarmed at the potential failure of our sacred democracy because of Chinese interference. According to a recent Marugroup poll, Canadians were,

“near unanimous on one major potential action being a top priority: both Canadians (91%) and Americans (93%) want security and intelligence efforts boosted to stop foreign powers undermining democracy”.

If only Canadians were aware of how their democracy is being undermined by self-serving domestic interests, orchestrated by the uber-wealthy financial industry. The impact of this cover-up on most Canadians’ daily lives is likely a thousand times greater than the impact of Chinese interference. Yet we continue to substantially prop up the industry, using taxpayers’ money.

Erin O'Toole was candid in his final speech as an MP when he remarked,

"We are becoming elected officials who judge our self-worth by how many likes we get on social media, but not how many lives we change in the real world."

How many lives could politicians change in the real world by implementing these CPP suggestions? Approximately 17 million lives would be significantly transformed through a surplus distribution of $10,000 each and a revised CPP format. The associated benefits would include increased GDP, substantial job creation, increased charitable donations, increased business profits, improved mental health, enhanced retirement security, a reduction in poverty, a reduction in income inequality, and a reduction in our burgeoning national debt.

Despite notifying our Ethics Commissioner about the CPP surplus and probable bribery, he has proven to be ineffective. Meanwhile, last fall, he found Trade Minister Mary Ng guilty of an ethics breach for awarding a $17,000 contract to a friend. This story received significant media attention. However, let's compare $17,000 to the $170 billion that millions of Canadians are being deprived of due to blatant bribery. Mathematically, this CPP injustice is ten million times greater than Mary Ng's breach. Because our Ethics Commissioner has failed to address this bribery, it is imperative for MPs to step up and fill the void.

If the three parties need funding for their operations and election campaigns, most Canadians would agree - bring back the pay-per-vote subsidy instead of illegally accepting bribes from the avaricious financial industry.

In 2009, the pay-per-vote subsidy cost Canadians only $28 million, roughly $1 per taxpayer. By succumbing to bribery, politicians are now costing the average Canadian $10,000 each and inflicting much greater damage on Canadians and Canada.

When all three parties are complicit, desperate measures are necessary

As a concerned Canadian who benefits from a professor's pension, half of which is paid for by all Canadians, I am committed to pursuing CPP justice and will not abandon my country. My objective is to raise awareness among as many Canadians as possible about this deplorable bribery scheme and its impact on their lives.

If you are governing an average federal riding, a $170 billion CPP surplus distribution would provide $509 million to the 120,000 Canadians that you represent, many of whom are facing significant financial difficulties. It is crucial to remember that we, the taxpayers, pay your salary, not your party leader. In exchange for our support, we expect you to actively oppose, not participate in, this bribery that deprives:

• Nearly all your constituents of $10,000 each, on average,

• Your younger constituents of the potential for an additional $900,000 upon retirement,

• Your younger constituents of the peace of mind that comes with financial security,

• Your riding's economy of a substantial $509 million stimulus,

• Businesses in your riding of a 20% increase in profit.

By safeguarding the interests of the 99%, you fulfill your duty as our elected representative and our watchdog.

Canadians are left with no choice. All three parties and all 334 MPs have neglected us on a matter that likely 99% of Canadians would support. I apologize in advance, as you are likely a dedicated MP who is following instructions from your head office to avoid discussing the CPP's surplus. Nevertheless, the only political power Canadians possess is through their vote. We elected you to represent us, not to yield to your party leader's instructions based on bribery. That is why thousands, possibly millions, of voters may soon vote for "ANYONE BUT THE INCUMBENT." Here is how and why.Most businesses are now struggling, given the challenges posed by COVID, inflation, and an impending recession. Approximately one million Canadian business CEOs are tirelessly searching for ways to increase their business profits by just 1%. It can be argued convincingly that a $170 billion CPP surplus distribution could result in a 20% increase in all business profits, except for the financial industry. This is because, after businesses have covered their fixed costs with revenue from initial sales for the year, any additional revenue becomes pure profit. For instance, an additional $100 golf fee or a $100 payment to a physiotherapist translates to 100% profit. Similarly, selling one additional widget for $100, which may have cost $70 in labor and materials, would yield a $30 gross margin as pure profit, after fixed costs for the year have been paid.

With a 20% profit increase probable through revised CPP legislation, one million Canadian business leaders will be highly interested in CPP reform.

How will 200,000 businesses learn how they can boost their profits by 20%? An email outlining these details will be sent to over 400 Canadian Chambers of Commerce offices, Board of Trade offices, and the CFIB. Their collective mandate is to help Canadian businesses thrive. Their email addresses are all readily available online. Considering the reasons elaborated in the table below, it is highly likely that the email will be widely shared and forwarded, potentially reaching millions of Canadians and thousands of your constituents.

The email will provide detailed explanations as above and a recommendation encouraging all voters to vote for "ANYONE BUT THE INCUMBENT" unless CPP reform is proposed.

This email campaign will persist tirelessly. Although it took three emails, in 2018, I successfully convinced CARP advocates to lobby for a reduction in the harsh GIS clawback rate that burdened low-income seniors, reaching an alarming 76%. Numerous working seniors were grossing $16 per hour but, unknowingly, only taking home less than $4 per hour. Finally, Finance Minister Morneau listened and, in his 2019 Budget, reduced the clawback rate. As a result, low-income seniors now receive $440 million more per year in GIS payments. This accomplishment taught me that repeated emails can ultimately draw attention to injustice and prompt appropriate action.

I will continue contacting Chambers of Commerce, Boards of Trade, numerous other organizations and individual Canadians who will feel disgusted and deprived. I will persist until politicians fulfill their responsibilities and allow Canadians to share in the surplus windfall generated by CPP Investments, using our collective contributions.

The devastating consequences of bribery: A matter of quality of life, and death

Is accepting bribes comparable to murder? Tragically, approximately 100,000 low-income seniors, with two-thirds being women, will pass away this year without ever receiving their rightful $10,000 share from the CPP's surplus. Struggling to cover rent and daily expenses, they are left with no income to enjoy the simple pleasures of retirement, such as travel, visits with grandchildren, dining out, golf, tennis, Uber, or even owning a car. An additional $10,000 would significantly enhance their quality of life and, as numerous studies show, contribute to increased longevity. Intentionally shortening the life of a single individual is considered murder. Deliberately depriving 100,000 individuals of their deserved benefits amounts to a grave injustice on a massive scale.

While 100,000 low-income seniors will pass on this year, an additional 1.9 million will endure another year of discomfort without their deserved $10,000. For them, this amount could possibly ten-tuple their discretionary income, providing much-needed relief. Conversely, an extra $10,000 would have little impact on the already comfortable lifestyles of those in the financial industry.

This situation can be likened to the Ottawa Senators attempting to win a hockey game overseen by referees bribed to favour the opposition. In the game, every goal scored by the Senators is disallowed, and the players are often unjustly sent to the penalty box. As Members of Parliament, you serve as referees for millions of struggling Canadians, and the stakes go far beyond a mere hockey game. We, the taxpayers, collectively compensate you for your role. It is our earnest plea that you fulfill your obligations.

It is incomprehensible, not only to me but likely to millions of other Canadians, that all 334 MPs would willingly partake in this disgraceful and alarming affront to Canadian democracy.

Unveiling the Culprits: Canada's Big Six Banks

Canada's financial industry is predominantly controlled by the big six banks, which oversee a staggering 70% of its assets, $7 trillion. At the helm of these institutions are their presidents, who earn around $15 million per year each. It is highly probable that they have secretly sanctioned this ongoing cover-up. However, preserving their banks’ pristine image is of utmost importance to them. Even the slightest association with wrongdoing, murder or genocide is unfathomable.

Given their colossal size, huge profitability, and concern for public perception, banks bear a significant responsibility to address environmental, social, and governance (ESG) factors. The Environment is hardly applicable because they are not a manufacturer or resource based. And, with possibly millions of shareholders, bank Governance is probably impeccable.

Thus, their primary focus should shift towards Social responsibility. Being responsible for withholding a deserved $10,000 each from millions of Canadians and depriving Canada of much-needed ancillary benefits represents the most Socially irresponsible act ever committed by any Canadian business group.

The big banks can easily dissociate themselves from bribing politicians, but they cannot escape their Social responsibility to publicly advocate for CPP reform and the benefits it could give Canadians and Canada. To avoid a huge decline in their pristine image, bank presidents should assertively convey to political party leaders,

"Abandon the bribes and enact CPP reform. Our bank’s untarnished image is much too valuable to risk."

Canadians' Sole Option -Voting for "ANYONE BUT THE INCUMBENT"

Re-election is a top priority for most MPs, especially for those who want to receive, ironically, an envied, substantial MP’s pension. Moreover, your party leader relies on your re-election to secure a majority. However, if thousands, or even millions, choose to vote for "ANYONE BUT THE INCUMBENT," both you and your party will suffer the consequences. Perhaps these repercussions will compel your party leader to take notice and align with the two other party leaders in their fight against those offering bribes, ultimately leading to the enactment of CPP reform. Such an outcome would be an immense triumph for Canadians, MPs, and the democratic process, and only pose a relatively minor setback for the already affluent financial industry.

On behalf of millions of struggling Canadians and the preservation of Canadian democracy, I implore you to utilize your ingenuity and influence in combatting this disgraceful cover-up.

Because your party leader may be unable to participate due to bribery commitments, you might want to explore the option of introducing a Private Members' Bill. By doing so, you would have the support of 99% of Canadians and, hopefully, the backing of 333 other MPs.

From a strategic standpoint, it is worth noting that Pierre Poilievre is the only MP who has thus far responded to my emails, as indicated below.

Is it possible that he will disregard the bribers, as he has disregarded the complicit media, and unveil a CPP surplus distribution during his upcoming election campaign? If you are a Conservative MP, you may want to encourage him.

If you are a Liberal or NDP MP, you may want to suggest your party leader pre-empt him and propose CPP reform before he does.

My website, www.fixthecpp.ca, has much more information regarding this CPP surplus cover-up.

Sincerely,

Ross Macnaughton

Professor Emeritus

Ryerson University aka TMU

P.S.

If any MP can provide satisfactory answers to the following questions, I will stop advocating for CPP justice.

1. Why did our Chief Actuary not declare a CPP surplus distribution years ago, considering that standard pension protocol recommends a surplus distribution at a 25% surplus? The CPP's surplus has now reached 300%.

2. Why is our Chief Actuary not held accountable to a Board of Governors, the CRA, or our Auditor General, considering his oversight of trillions of dollars in hard-earned contributions from Canadians?

3. Why did Canada's leading pension expert and C.D. Howe Institute associate, Malcolm Hamilton, spend 40 hours trying to convince me that there is no CPP surplus, using vacuous arguments? C.D. Howe Institute has been rated 2 out of 5 for transparency in disclosing their funding sources.

4. Why has no political party included a CPP surplus distribution in their platform, despite its potential to secure a significant majority and greatly benefit millions of Canadians and Canada?

5. Why hasn't the CPP been converted to a partial Defined Contribution format, which could potentially provide nearly all 25-year-olds with an additional $900,000 at retirement?

6. Why is the entire Canadian media, including the CBC, not covering the CPP's surplus and its potential, given that such a story would attract millions of viewers/readers and put pressure on politicians to legislate CPP reform?

7. Which industry, apart from the financial industry, possesses both the motivation and the resources to bribe all three major parties and other organizations into silence regarding the CPP's "gigantic" surplus?

8. What are experts on democracy alluding to when they suggest bribery is rampant in Canadian politics, if not the CPP?

9. What are financial icons Chrystia Freeland and Mark Carney alluding to when they suggest our capitalist system is rigged to favor the super-rich, if not the CPP?

10. Why have CARP and CANAGE, the most vocal advocates for seniors, refused to engage in discussions about the CPP's surplus, considering that it could potentially bring an estimated $50 billion to deserving seniors, many of whom are struggling, in Canada?

11.  Why haven't Canada's six major banks, known for their high ESG responsibility, strongly recommended to politicians the distribution of the CPP's surplus, considering the immense benefits it would bring to their millions of customers and the Canadian economy?

    Verification:

    The 25th Actuarial Report of 2010, authored by our Chief Actuary, clearly states that our CPP fund was in balance at that time. On page 32, the report indicates a fund value of $127 billion as of December 31, 2009. Additionally, on page 33, it assures that the fund could sustain all CPP pension commitments for 75 years, provided CPP Investments achieved an average 6% annual return, and the fund reached a value of $311 billion by December 31, 2022.

    Fast forward to the present day (June 2023), where the actual fund value stands at $570 billion (netting to $550 billion after excluding the $20 billion belonging to the CPP additional fund). Over the past ten years, CPP Investments has averaged an outstanding return of 10.9%. Let's compare the Chief Actuary's target of $311 billion for today (based on a 6% return over 13 years) to the current fund value of $550 billion (based on an actual 10% return over 13 years).

    Today’s surplus of $224 billion will continue to grow exponentially. In 2023, our Chief Actuary projected a need for a $20 billion investment return to ensure fund stability. However, given the 10% return over the past 13 years, it is likely that the investment return in 2023 will reach $55 billion, resulting in a $35 billion surplus in 2023 alone. Moreover, none of the estimated $605 billion fund is required in 2023 for pension payments, as workers’ contributions are projected to surpass pensioners’ pensions by $2 billion. In summary, the fund is swimming in excess value, and it will continue to mushroom exponentially.

    It is imperative to disregard all reports from our Chief Actuary after 2010. Once the fund began growing at an inconveniently rapid pace (from the perspective of the financial and actuarial industries), our Chief Actuary “invented measures that are easily manipulated so that actuaries can control the narrative and hide things at will.”, according to one top actuary. All actuarial reports following 2010 have been adjusted by our Chief Actuary to bury this "inconvenient" surplus.