More fuel for the fire:
http://www40.statcan.ca/l01/cst01/health26-eng.htm
The average lifespan when CPP was introduced was ~73yo.
The average lifespan today is ~80yo.
http://www4.hrsdc.gc.ca/.3ndic.1t.4r@-eng.jsp?iid=33
The percentage of the population over 65yo was < 8% when CPP was introduced.
The percentage of the population over 65yo is now 14% and growing.
http://en.wikipedia.org/wiki/Canada_Pension_Plan
CPP is supposed to be "stable", ie bringing in as much as it is paying out. Currently there are almost double the number of seniors from when CPP was introduced, and those seniors are living twice as long in retirement.
Something has to change to keep CPP "stable" and unfortunately its going to come out of our generation's pockets.
For all those who think I am picking on seniors, remember this: current and future retirees have lived through 3 of the biggest economic bubbles (80s financial, 90s tech, 00 housing). Even someone who is 40yo could have taken advantage of both the tech and housing bubble. Its is these people who are complaining they cannot save enough - when in reality they have lived through some of the best years to save.
Yes they need help, yet not from my pocketbook. They need to learn how to save.