Old Age (In)Security
Here is an overview of todayâ€™s timely Canadian Centre for Policy Alternatives paper on Old Age Security:
Old Age Security (OAS) is the basic building block of Canadaâ€™s retirement income system. Canadians build on that foundation, saving for their retirement with benefits from the Canada or Quebec Pension Plan, a workplace pension if theyâ€™re lucky enough to have one, and private savings. This short technical paper explains how OAS works, and also sheds some light on the negative impact of increasing the OAS age of eligibility, the programâ€™s sustainabilityâ€”the number of OAS beneficiaries is expected to almost double over the next 20 yearsâ€”and several other important considerations for both seniors and younger workers.