Letter to the Editor
It seems all but certain that Stephen Harper is set to hike the qualifying age for the old-age security (OAS) from 65 to 67. For our most vulnerable seniors, that means they will go without $30,000 of much-needed support for two additional years. For you, it may mean significantly altering your plans for retirement. And you are not alone.
Over the next 10 years, more than 4 million Canadians will turn 65. Unless you are set to retire with an annual pension of more than $112,000, Harper is telling you to rethink your plans. He is blaming the baby-boomers. But as the retirement wave peaks in 2031, increased spending on the OAS will only increase by 0.7 per cent of Canada’s overall economy.
Harper is the same guy who said the Canada Pension Plan should be scrapped in 1998. Government involvement in the financial security of Canadians stands counter to his ideology.
As Conservatives choose to take benefits from seniors, Liberals continue to fight for balanced pension reforms that will ensure Canadians financial security. Liberals will fight for a voluntary supplemental CPP that will provide a low-cost, high-return, universal option that Canadians can rely on.
—Hon. Judy Sgro, MP
Liberal Party Critic for Seniors and Pensions