The federal government’s recent decision to raise the eligibility age for old age security (OAS) from 65 to 67 is an absolute must, but it’s also too timid, says Yves Guérard, an actuary and the author of a new publication from the Montreal Economic Institution (MEI).
By 2029, Old Age Security (OAS) will not become payable until age 67. After nearly half a century of improvements in government retirement programs, this is the first significant take-away. And it may not be the last.
Many Canadians aged 45 to 54, the first age group to be affected by the OAS age increase proposed by the government, were already planning on working past age 65, according to CIBC polls conducted by Harris/Decima this past September.
Last night the federal government accounted it was raising the eligibility age for Old Age Security (OAS) from 65 to 67. But Canada’s not the first country—or the last—to do so.
As was widely expected, today’s federal budget announcement included a plan to increase Old Age Security (OAS) eligibility for Canadians from the current age of 65 to 67.
The federal government hiked the eligibility age for Old Age Security (OAS) to 67 from 65 reflecting the reality that Canadians are living longer and healthier lives, and may prefer to keep working.
The federal budget contains a number of measures relating to public pensions, public sector pensions and private retirement saving.
Canadians are staying in the workforce longer, but whether that’s a good or bad thing depends on whom you ask.
Don’t sacrifice pensions. That’s the message from Canadians according to a new Ipsos Reid poll done for Postmedia News and Global TV.
Ottawa should move to reform seniors' benefits by letting recipients choose richer payments, later, from the Old Age Security and Guaranteed Income Supplement programs if they wish, says a report by C.D. Howe Institute president and CEO William B.P. Robson.