Only On The Walters Post

By George Walters

Every now and then, I get one of those chain emails that refuses to die. This one’s been making the rounds for years, showing up in inboxes like a bad penny. You’ve probably seen it yourself. It usually comes with a big subject line like: “Government admits CPP is bankrupt!” or “Federal Benefit Payment exposed as Ponzi scheme!”

The wording changes depending on who forwards it. Sometimes it’s about Social Security in the States, other times somebody’s swapped in Canada Pension Plan or Old Age Security to make it hit closer to home. But the gist is always the same: “Politicians stole our pension money, the system is empty, and now they’re trying to pull one over on us.”

Now, there’s no denying folks have reason to feel suspicious. We’ve all been paying into CPP since our first job stacking shelves or pumping gas, and when governments start fiddling with rules or moving retirement ages, it doesn’t exactly build trust. So when a scary-sounding letter lands in your inbox, it feels believable. That’s how they get you.

But here’s the truth of it. The Canada Pension Plan isn’t some hollow piggy bank that Ottawa raids whenever it needs a few bucks. It’s run by the Canada Pension Plan Investment Board, and those funds are invested in everything from real estate to global markets. Experts have looked at it, audited it, and as it stands today, the CPP is considered safe and sustainable for at least the next 75 years. That’s not me talking—that’s the actuaries and watchdogs who keep an eye on these things.

Now the Old Age Security is different, sure. That one does come from general tax revenue. But calling it a Ponzi scheme? That’s nonsense. A Ponzi scheme is when money from new investors is used to pay old ones, all while the organizer skims the pot. Our pensions may not be perfect, but they’re not some backroom con pulled off by a guy in a cheap suit.

So why do these emails spread? Because they touch a nerve. They tap into a very real fear—that the money we worked for, year after year, might not be there when we need it. And instead of digging into facts, people forward the message to everyone they know, thinking they’re doing a good deed.

All I can say is this: before you hit “send,” take a minute. Look it up. Ask yourself, does it sound like truth, or just another scarecrow propped up in the field to spook us into running the wrong way?

Until the next time, keep your minds open and your stories alive.