Difference is i have paid taxes all my life and even on retirement i am at about 50% tax
nd dont give me the bs you pay tax on every cent you get getting paid cash
no person getting paid cash in their right mind declares all their income
ya its great right now but wait till your older
quebec pension if you retired today max before tax is 1350 a month and old age security is 707
2057 a month minus tax $24,684 a year provided you declared a income high enought to get the max from quebec
your tax provideing you had no other income would be $969 23,715 net or $1976.25 a month
the guaranteed income supplament cut off point is 20,832 so your bottom line is $1976.25 a MONTH
quebec gives you 25% of the average income you earn
so if all you cash earners who dont contrabute or dont contrabute a lot feel its bad now just wait
think i am wrong anyone call call quebec and ask for a extimate of retirement paper 514 873‑2433
which will show wht you if you keep contrabuitng will get if you take it at 60 nd if you take it at 65
and its about $10 off and your contrabution history like the government websites is roughtly 3-4 yrs behind
Each year, your employment earnings are recorded under your name in the Record of Contributors of the QPP , up to the maximum pensionable earnings ($66 600 in 2023). The amount of your pension corresponds to 33.33% of the average recorded earnings.
I am fully aware that retirement doesn't provide enough income... i have spent most of my life working in public jobs and paying into retirement. And those jobs didn't pay enough to prevent me from falling in debt. Trying trying to raise 3 kids alone on barely above minimum wage while i worked my ass off for an employer who didn't appreciate the business i braught in just from having a beeming personality and being a perfectionist at my job. He got to live well off while I struggled to put food on.my table for my kids.
Once i left his business took a bit of a dive and i still get to hear when i go in that it just isn't the same withoit me there. I know damn well what it is to work hard. Too hard in fact.
I also know my golden years will suffer by choosing to go into this line of work.. but i still struggle to put food on the table, and pay my bills and i see my regulars suffer as well.
I had to raise my prices because i spent most of last year paying my mom to take care of my youngest while i ate ramen threwout the year. A meal that costs $0.30 beefed up with an egg and some veggies, eating once a day. I still struggle with the bank claiming over 600/month on intrest rates and pray every month i make enough to cover rent.
Every time i start to get ahead something happens to my vehicle which i am still making payments on and have to fix that. Just so that i can keep working and make it to the doors of the clients i have. Not to mention the price of gas constantly going up.
Trust me your not the only one who is struggling in this economy. I have been offered a christmas basket by my kids school because they see me trying, and had to accept it just so i could afford a few gifts for my kids come Christmas.
My entire f*cken life has been 1 f*cken struggle after another i do what i can to survive, and i don't make my problems the problems of my clients either. As far as they know i lead a good life and am doing fine. I wouldn't have depression issues and anxieties and all the rest if life desided to cut me a f*cken break, and i still choose to even do this job with the best smile i can muster and give more cares to my clients than i do myself as i have done all my life believeing in earning an honest living rather than accepting handouts or scamming people. I'm not even scamming the government as i dont even accept welfare, just trying to provide for my family the best i can without being a burden on others.
Besides retirement as far as I'm concerned is almost the equivalent of the governments idea of insurance or a scam... the majority of people are likly to die from being overworked before they ever reach the age of retirment.
