Can Americans “piggyback” the Canadian Retirement System?

Most older Americans who require medicines for chronic disorders are now aware that they can purchase those medications at a deep discount from Canadian pharmacies. But can Americans also “Piggyback” the Canadian Retirement System and receive supplemental payments out of Canada?  A video circulating on the internet implies they can; which is of course ridiculous.

Description

Americans Now Legally Piggybacking

“Canadian Social Security”

… And Collecting Extra Monthly “Benefit” Checks From $400 to $4,700

“It paid for a new roof on our house… and I can honestly say I live comfortably, without any debt hanging around!”

~ Ellis P. from Seattle, Washington
“Canadian Social Security” Piggybacker”

Click here to link to the video presentation.

This video is an effort by the producer to lure individuals into a stock trading newsletter. To summarize the points made in the video is quite simple:

1) The US Social Security System is broke and exists as a pay as you go system in which present day employees suffer the burden of paying for present day retirees. Money paid into the system by the present day retirees has already been recklessly spent by Government and politicians. There is no “lockbox”or retiree accumulation whatsoever.

2) The Canadian Pension System is solvent and made so by politicians who removed it from Government Control years ago. The new system relies on the private sector to manage the funds placed into it by the Canadian workforce.  Canadian retirees enjoy richer benefits than their US Counterparts.

3) By essentially investing in a similar way as the private sector Canadian Pension system does, an American retiree can supplement their retirement income through investment. The author then suggests affiliating with his investment firm will deliver those results.

Quite frankly, I ask, why all the intrigue? Why put together a clearly misleading video that implies there is actually some mechanism whereby a US Citizen with no Canadian affiliation can “Piggyback” the Canadian Pension System. I suppose it all comes down to one’s definition of “Piggyback” but it still smacks as a deceptive trade practice though his criticisms of the US Social Security System are painfully accurate.  He is essentially describing the poison and selling the antidote.

 

 

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