At least a few boomers are quietly suggesting that Old Age Security spending be reined in by some means. Stephen Harper tried something similar by raising the age of eligibility to 67, but Trudeau Junior reversed that. Hopefully this gains traction this time around.
OAS is currently Canada’s costliest federal program, eating up roughly one in every six dollars of federal spending. This amounted to a total of $85.5 billion in 2025-26 and is expected to exceed $100 billion annually by the end of the decade. Paul Kershaw, head of Generation Squeeze, said in a media briefing on Tuesday that policymakers can ill afford to ignore ballooning OAS costs at a time of “heightened geopolitical instability and economic uncertainty.”
There may be some tweaks necessary for OAS but the pushback would be massive. The current federal government that is riddled with waste, mismanagement and corruption would not have the moral high ground to ask seniors to sacrifice.
If the Canadian government wants to make the case to reform OAS then they’d have to get their own house in order first. Get rid of or severely cut back on foreign aid, corporate welfare, government slush funds, overly generous programs for immigrants and asylum seekers, consultants, the size of government and the automatic raises for MPs every April.
The current federal government that is riddled with waste, mismanagement and corruption would not have the moral high ground to ask seniors to sacrifice.
This. In spades.
Unfortunately, morality is not something that most govt’s ascribe to.
“policymakers can ill afford to ignore ballooning OAS costs at a time of “heightened geopolitical instability and economic uncertainty.””
And there it is, the unspoken dig at Orangeman bad.
Can’t be because of the government imposing growth stifling policy for the last decade.
It’s a perfect storm that will come regardless of the efforts to keep the government benefit on life support.
It was never intended as an income, it was intended to purchase the vote of those that live on fixed income.
1-create government dependency with a program that is unsustainable
2- demonize anyone that dare suggest it needs to be scaled back because it’s unsustainable
3- create new program to create new government dependants
4- rinse repeat
The last decade? The last 60 years!
The original age of eligibility was chosen because the life expectancy was ~67. OAS was always only intended to provide support for the few years between mandatory retirement and death. To be kept current, the mandatory retirement age should be raised to 80.
Maybe for desk jockeys and other non physical work but this is not possible for people working in trades, labor, construction, resource industries, oil and gas and all other physically demanding work. Besides, i dont think there is a mandatory retirement age anymore.
Then they don’t need all the money they collect. So it’s time to lower taxes.
Just cut off the asylum seekers and refugee claimants from every penny they get. The OAS is already means tested. Make it dependent on being a Canadian citizen for 65 years as well.
LC Hit the nail on the head with her post, butt here are those who think sending money to that CIA war over there is good, stupid is unfixable.
Imagine that? My taxes actually $pays$ the rent for the CIA that lives in your head.
KenGay
CIA, is yer boogie man, I just understand how they work, you don’t, must be all that edumukkkation you gots.
BTW: you ain’t stupid, cuz Bluddy wears that crown, and you will never rise up to that level.
NMGEH911 loves his OAS, ‘cuz he/she/zim/zer has been getting it at least 15 or more years now…shame he can’t stay on topic. Shame he can’t just piss off…
If you raise the age to 67 … then the Chi coms and Punjabis will have to ship their elderly dependents to Canada when they’re slightly older. It would be DISASTROUS for those foreign economies.
You know that “racist” thing Trump says … “without a shred of evidence” – according to the CBC and their ilk … where he claims other countries are emptying out their prisons and mental institutions and sending those dregs into our society? Well the same thing is happening with elderly dependents. The SF Bay Area is Chok-full of non-English speaking LOL’s … Chok-king full of em … all on SS and Medicare.
Cut payments to fake refugees and increase payments to seniors and veterans.
Cut the Governor General’s travel budget to travel WITHIN Canada, period. She represents the King IN CANADA. Period. If Chuck wants to take in a foreign tour, let him. Mary can stay home.
Then cut her salary/expenses/travel to $10 grand total, a month, period. She can learn to budget.
Take more money out of my/our pockets to pay for stupid shit you’re doing? Nope.
OAS is part of the calculation we who are without golden pensions use/used to determine our retirement.
Households with more than $100K, before tax, are not necessarily secure. How many retirees have mortgages and rent? Not everyone at 65 is in a paid-for house, mortgage rates and rent are/have climbed and retirement income has not. How many reside in high cost areas like TO, VanC, Ottawa, Calgary, Edmonton? How many are supporting adult or disabled children?
Just because these *holes are comfy doesn’t mean everyone is. Can’t see past the end of their stuck-up noses.
There’s something in the Trudeau DNA that doesn’t take debt seriousy.
I think Justin’s step-father was quoted as saying “debt is nothing” or something along those lines
It’s called Marxism…..more accurately, Maoism. Pierre Trudeau and that joke named Justin clung to Maoist ideology. There are others in the Liberal Party including idiots like Alan Rock, Maurice Strong (one of the fathers of the global warming fraud) and others hiding in the closet.
There’s something in marmot DNA that doesn’t take spelling seriousy.
A) Cut payments to Liberal politicians, their families, and all NGOs.
B. No politician or staff member may travel outside the country.
C. Cut all funding to the CBC and other media.
A) Reduce the number of elected MPs in Parliament from 343 to about 100.
B) Reduce the number of Senators in the Senate from 105 to about 50.
C) Senators to be elected not appointed.
The primary goal is to select MPs and Senators that are highly competent, effective and can produce results. The secondary goal is to reduce cost (salaries/pensions/expenses etc.) These MPs and Senators must excel at growing the economy by reducing/eliminating burdensome over-regulation, reducing/eliminating ineffective public programs, reducing/eliminating the growth in the National Debt.
The US has I believe 538 congress critters – our population is 10%, let’s be generous and have 60 mps. Senate, they have 50, 1 per province would be sufficient.
Increasing the eligibility age or cutting benefits slightly for the folks who planned and saved would never be in an election platform. This action would cost the proposing party most of the votes from people over 50, which is most 70% of votes cast. Conversely, the Party that promises NOT to cut OAS gets most of the electorate.
As an OAS recipient, I would support that change if it would result in a balanced budget.
However, the current “new”/old government would just piss away the money on their corruption.
To qualify for the Old Age Security (OAS) pension in Canada, you must meet the following criteria:
Age: You must be 65 years or older.
Residency: Your eligibility depends on where you currently live:
If living in Canada: You must be a Canadian citizen or legal resident at the time your application is approved and have resided in Canada for at least 10 years after age 18.
If living outside Canada: You must have been a Canadian citizen or legal resident on the day before you left Canada and have resided in Canada for at least 20 years after age 18.
Work history: You do not need to have worked to qualify. Employment history does not affect eligibility.
Special cases: Time spent working abroad for a Canadian employer may count as residence in Canada if you return within 6 months of ending employment or turn 65 while still employed abroad. Certain international work or family-related absences may also qualify.
“You must be a Canadian citizen or legal resident at the time your application is approved and have resided in Canada for at least 10 years after age 18.”
Imo, 10 years after age 18 is too short. It should be 25 years, at least.
A more relevant figure would be the cost of OAS, after accounting for the amount clawed back through income tax. And I suggest that MAiD will also reduce the demand as the elderly increasingly own nothing and aren’t happy.
That’s the plan, I’m sure. Kills us old people off at age say 70. As an octogenarian with a good mind I object to something that arbitrary.
There was a liarberal candidate (a doctor no less) who was in favor of mandatory MAID at 75.
Defeated thankfully.
So much for that “First, do no harm” nonsense
Maybe if they stopped paying people after they die it would be cheaper? I bet the scamming is -amazing- with OAS.
I’ve read that certain immigrant people buy fraudulent birth certificates in their birth countries to make them older. That way they qualify for various canadian seniors benefits sooner and then they return to their home countries where living expenses are considerably cheaper. The article jokingly said that in a few decades their will be a lot of “Canadians” that are over a hundred years old.
Fck the government and fck fiscal restraint.
They’re going to print money to pay for tampon dispensers in every single federally regulated men’s toilet?
Go fck yourselves.
They’re going to let Cousin-fckers, Spear-chuckers and Beach-shitters who’ve been here all of 5 years, bring in their ancient and decrepit parents and grandparents to steal a part of the post nation?
Go fck yourselves.
They’re going to employ 100,000 extra & unneeded public servants and give them gold-plated, indexed pensions for smoking pot at home?
Go fck yourselves.
I want everything I can get.
Cut the federal government bureaucracy by 25%. And then get real serious and cut it again. As the old saying goes, “Canada will come out of a recession when Ottawa goes into one”.
I’d be perfectly happy if they tossed a coin, said odds or evens, then fired everybody whose social security number was on the losing side. Couldn’t be accused of racism, sexism, Islamophobia or a veritable host of other stupid qualifiers.
Welfare abuse is not a problem, welfare is.
If there is no welfare there won’t be any welfare abuse.
The clawback rate is 15% above the threshold. Just freeze the threshold. Currently the clawback starts at $95,323 with a maximum clawback (all of oas) at $160,647. Maximum OAS is approximately $8900 for under 75yo. OAS does not take out taxes unless you ask them to do so.
Sask independence
Eff that shit. I want what’s coming to me as was promised to me. I’m being selfish? GTH. I didn’t swing valves in -20 weather at 03:00 in the morning for 35 years…pay off a mortgage…raise three kids only to have the gov’t tell me I need to make sacrifices….again. Renegging or making amendments to a social contract simply isn’t an option anymore. Thankfully I had the foresight to realize depending on the gov’t is for fools and invested accordingly.
Feds can’t get their act together fiscally? That’s a problem for them. Start cutting, Skippy. $2.4 billion to Ukraine last month makes me wonder why we even pay taxes if the BOC printers are going 24-7.
Bullshit.
You probably should be concerned if they make cutbacks. Recently the elimination of 40,000 civil service positions was announced. This will be be achieved by buyouts and providing top ups to full pension for early retirement. Estimated costs 1.5 billion. This is projected to save 82 million per year. So in 2044 we will start to see a savings. Of course this takes no account of interest charges on the money. Nor does it address you are likely eliminating some people who actually may be effective at their jobs. Nor the fact many who will be collecting pension may end up back working for the government. Only a genius could come up with such a scheme , all be it an evil one. If you were prudent, saved money ,sacrificed pleasure for security , you will end up at the same level as those who have done none of that.
I think your math is fuzzy. 40,000 civil employees at an average salary of, say, $50,000 comes to 2 billion per year.
Not my math – as published in the National Post , Globe and mail and likely others. They will be paying full pensions longer.
https://www.google.com/search?q=article+on+laying+off+40000+to+save+82+million+peryear&sca_esv=acd81caf4539d42c&sxsrf=ANbL-n609bSUO2mMSUWjCat06oEBgKR0ow%3A1770287213373&source=hp&ei=bXCEab_EFNOg0PEP8Jml0As&iflsig=AFdpzrgAAAAAaYR-fWR5wi8a-iznZtR5atAGnbF9sY5Q&ved=0ahUKEwj_roHkkcKSAxVTEDQIHfBMCboQ4dUDCDg&oq=article+on+laying+off+40000+to+save+82+million+peryear&gs_lp=Egdnd3Mtd2l6IjZhcnRpY2xlIG9uIGxheWluZyBvZmYgNDAwMDAgdG8gc2F2ZSA4MiBtaWxsaW9uIHBlcnllYXIyBxAhGKABGApIyKoEUINXWK_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–oBsgcEMC41M7gHqjjCBwcxOS4yNy44yAdagAgA&sclient=gws-wiz
Recently the elimination of 40,000 civil service positions was announced.
Not a chance anybody is getting fired or laid off. It’ll all be through attrition.
Not one more penny to Gaza and Hamas. And happy that the Islamaphobia envoy has been dumped.
I hope everyone remembers who Generation Squeeze is. They are the same liberal buffoons who several years ago had Justine on a pod cast floating the idea that the federal government should tax your primary residence, or a capital gains tax on that residence . The idiots think it’s a great idea to tax your primary residence or reduce your OAS, using all the buzz words to soften the idea to the boomers who are overwrought with guilt because they worked hard. This is nothing but a trial balloon for talking points for the upcoming election. How about managing our money correctly, now there’s a thought.
Regardless of political stripe, retirement planning is based on the OAS as part of an affordable retirement.
Pension options are based on bridge supplements, emulating OAS, from 60 to 65, where the OAS takes over.
Remember, when conservatives want to amend overgenerous government programs it means they want seniors to starve and eat cat food. When Liberals want to “fix” these programs, “it only affects the rich”…….as each year they move the cutoff levels lower and lower.
As LC said in the first entry, this subject is toxic to any government to even float trial balloons.
What we are really seeing is the effect of ongoing reckless borrowing and spending by successive LIEberal governments. OAS cuts, banks/pensions funding “housing”, etc. The birds are coming home to roost, the Lieberals are reaching their limits of massive deficit financing, and are now trying to pass the buck, naturally.
Scumbags. But hey, they’ve got a “banker” looking after things now. (SPIT)
I will agree to OAS being cut after the public sector pension systems are reduced to match private sector pensions. To pay our current crop of drone MPs a pension only encourages career parasites. If these drones are replaced with qualified people who have already ‘made their retirement pile’ we all benefit. No pensions required.
Follow up with civil service reforms – defined contributions rather than defined benefits, retirement ages in the 60s rather than 50s and employer contributions matching what are available in the private sector.
“Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother’s eye.”
Touch my entitlements?! This is the sort of stuff that lead to the rise of fascism in Germany. I want more OAS money, not less. Cut out this crazy talk. Diversity is our strength. Open the Asbestos mines and put them to work.
The US has I believe 538 congress critters – our population is 10%, let’s be generous and have 60 mps. Senate, they have 50, 1 per province would be sufficient.
So what’s the #1 largest expense, Government workers with fully indexed pensions?!
Perhaps they should invest the money better and it wouldn’t be so hard on the poor dears!
Everything government promises is a lie.
Dream on ,if you believe the Canadian Pension Scheme was ever solvent.
They stole the CCP contributions from day one and spent them..General Revenue they cried.
Just as “Public Healthcare” is a bad joke..so is government funded security for our old age.
Remember that “Canadian Charter of Rights and freedoms” our intellectuals boasted about since 1968?
You now know that was a lie?
Or does the Chicken Dance help drive the real world away?
Can Ahh Duh is an end stage kleptocracy,all its promises were lies.
The law only works for the thieves and bandits.
And now it is so broke that the parasites will tax (STEAL) whatever wealth you have left..
And they are proud of their fine work.
why on earth would the Liberals piss off the only demographic that voted them into power?
You haven’t begun to see elbows up until you piss off the seniors.