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Forever Young Information

Canada's Adult Lifestyle Publication

FYI launches Old Age Security forum

February 24, 2012 - 5 comments

It is not overstating the issue to conclude that the federal government’s rollout of plans to revise Canada’s public pension system has been scattered and messy

In the weeks since Prime Minister Harper told an audience in Davos, Switzerland that there would be revisions – news that was greeted with overblown rhetoric by opposition members including the Liberals’ Bob Rae – the messages of clarification issued by government members have not been reassuring.

Consider this statement from cabinet minister Rona Ambronse: “The Harper government is committed to protecting retirement income for today’s seniors and for future generations of retirees.” George Orwell could not have ghost-written this better. In truth, the government intends to “diminish” spending on retirement income, not “protect” it.

Ambrose wrote in the Edmonton Journal, “I can guarantee you that any changes to OAS (Old Age Security) will never affect anyone currently receiving benefits, nor will they ever affect any individual now nearing retirement.” Then, addressing the timeline issue, Finance Minister Flaherty unhelpfully said that changes won’t happen until “2020, 2025 …”

Uh, that’s quite a range, Mr. Flaherty. How are Canadians aged 50-plus supposed to plan based on that? More precise information is promised in the next federal budget. FYI, meanwhile, will post fresh news and commentary in this space. Keep visiting the Newswire & Blogs section.        – Don Wall

From the FYI Archives:
OAS REFORM Spec editorial: Pension follies from the Tories

OAS REFORM Adjust now to survive essential OAS cuts

Other sources:

Get the essential re payments and clawbacks from this site

Old Age Security changes won't affect anyone currently receiving benefits

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