PEF home page and weblog
This fall, Canada’s Parliament will debate a proposal to expand the Canada Pension Plan (CPP). And over at the Behind the Numbers web site, I’m co-author of a blog post titled “Ten things to know about the CPP debate.” The blog post’s other co-authors are Allan Moscovitch and Richard Lochead. Points raised in the blog […]
Posted by Nick Falvo under Austerity, CPP, demographics, employment, income, income support, inequality, labour market, media, OECD, Old Age Security, older workers, part time work, pensions, population aging, poverty, privatization, progressive economic strategies, retirement, Role of government, self-employed, seniors, small business, social policy, taxation, unions.
October 29th, 2016
Over at the web site of the Calgary Homeless Foundation, I’ve written a blog post titled “Ten things to know about Canada’s guaranteed annual income debate.” Points raised in the blog post include the following: -There are people and groups on both the left and right of the political spectrum who favour a Guaranteed Annual […]
Posted by Nick Falvo under aboriginal peoples, Alberta, Employment Insurance, fiscal federalism, gender critique, guaranteed annual income, income, income support, Indigenous people, inequality, labour market, Old Age Security, Ontario, poverty, progressive economic strategies, Role of government, social policy, unemployment.
September 30th, 2016
Over at the Behind the Numbers web site, Allan Moscovitch, David Macdonald and I have a blog post titled “Ten Things to Know About Federal Income Support for Low-Income Seniors in Canada.” The blog post argues—among other things—that if the age of eligibility for Old Age Security were to move from 65 to 67, the […]
Posted by Nick Falvo under aboriginal peoples, budgets, Canada, Conservative government, CPP, demographics, economic history, election 2015, federal budget, Federal elections 2015, fiscal federalism, Harper economics, income distribution, income support, Indigenous people, inequality, labour market, Old Age Security, older workers, pensions, population aging, poverty, retirement, Role of government, seniors, social policy.
August 29th, 2016
The C D Howe Institute have put out a study on later retirement by Peter Hicks, a former senior official with HRSDC and the OECD who has written a lot on the policy implications of ageing societies. I find this to be one of his less convincing efforts. The argument – with parenthetical comments – […]
Announcing a bad policy 10 years in advance doesn’t make it a good policy. So the fact that the Harper government is giving people at least 10 years to prepare for 2 years of life without an important source of income, hardly makes it OK — as so many media commentators have tritely implied.Â In […]
The Budget justifies raising the age of eligibility for OAS and GIS on the grounds thatÂ the long-term fiscal sustainability of the program is being undermined by rising life expectancy. No estimates of savings are provided. They will be very modest. Given that average life expectancy at age 65 is 20 years, raising the eligibility […]
Marc, Andrew and Toby have posted substantial analyses of yesterdayâ€™s federal budget and I have some comments in todayâ€™s Hamilton Spectator. My two cents about the budgetâ€™s economic forecasts follow. Table 2.1 envisions a 7.5% unemployment rate this year, slightly above last yearâ€™s rate of 7.4%. That seems like an admission of failure from a […]
Former Assistant Chief Statistician Michael Wolfson shows that governments collectively stand to save very little from hiking the age of eligibility for the OAS/GIS, a measure that is widely expected to be in Thursday’s Budget. The math (based on the SPSDM): In 2011, cutting OAS/GIS from seniors age 65 and 66 would save the federal […]
John Stapleton has an opinion piece out on Prime Minister Harper’s proposed changes to Old Age Security (OAS)Â and the Guaranteed Income Supplement (GIS). I find the following quote from Stapleton to be particularly troubling: By providing OAS and GIS at age 65, Canada has greatly reduced the incidence of poverty among seniors. By moving the […]
Posted by Nick Falvo under Conservative government, CPP, demographics, fiscal federalism, income support, Old Age Security, older workers, pensions, population aging, poverty, retirement, seniors, social policy.
February 19th, 2012
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 […]
On CTV yesterday, human resources minister Diane Finley said (45 seconds into this interview): â€œAs we go forward, weâ€™re going to have three times the expense in Old Age Security as we do now, but weâ€™re only going to have half the population to pay for it.â€ That sounds pretty scary. If the total cost […]
It is argued that eligibility for OAS/GIS discourages older Canadians from remaining in the workforce, and that we need to keep them working to avoid labour shortages and a sharp rise in the so-called dependency ratio. But the fact of the matter is that 65 is not the trigger for retirement that it used to […]
No. Of course not. Even if the government waves around scary large increases in nominal dollar terms. As has been widely reported, the most recent OAS actuarial report shows that total program expenditures will rise from $38.8 billion in 2011 to $107.9 billion in 2030. However, the dollar figure reflects, not just an increase in […]
Canadian Press have put out a story based on a research paper by Richard Shillington which was commissioned by HRSDC from Informetrica, and obtained by the CLC through an Access to Information request. Receiving OAS is required to makes seniors eligible for the GIS top up, which provides one in three seniors with a supplement […]
To reprise a now topical earlier blog,Â hiking the age of eligibility for OAS will have the biggest impact by far on future seniors who are in low income. Many if not most of this group are unable to work due to disability or ill health. If the age of eligibility for OAS and GIS […]
Raising the age of eligibility for Old Age Security/Guaranteed Income Supplement (OAS/GIS) benefits is the worst possible way to deal with the retirement income security crisis facing Canadians. Experts such as former Assistant Chief Statistician Michael Wolfson project that one half of all middle income baby boomers face a severe cut to their living standards […]