#GLOBALNEWS Is it time to overhaul Canada’s Old Age Security?
Is it time to overhaul Canada’s Old Age Security?
Is it time to reform Canada’s Old Age Security program? As Baby Boomers age, the cost of the federal government retirement pension is expected to soar to 276.5 billion by 2060.
Paul Kershaw, the founder of Generation Squeeze, which is a charitable “think and change tank” with a mandate to “champion generational fairness,” is urging the federal government to do just that and change up the retirement benefit.
“You could spend our OAS money differently right now and achieve other goals without having to raise taxes. And you could do so, for instance, by asking more financially secure retirees to take slightly less,” he said.
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