Prime Minister announces returning OAS eligibility to 65
The Prime Minister made headlines last week when in the United States, he announced he would make changes to the Old Age Security (OAS).
The former Harper government announced in 2012 that it would be raising the eligible age for OAS to 67, come 2023. Justin Trudeau announced he would reverse this move and bring the age of eligibility back to 65.
Senior Services Coordinator for the Town of Drumheller Rose Poulsen said this is a welcome change for many approaching retirement, often facing a new challenging economic reality.
“I have heard a lot of people complaining it is going to effect people who are born in 1958 or later,” said Poulsen of the raising of the age to 67.
She explains that currently there is a sliding scale, and the age 67 will be fully implemented by the time people born in 1963 are at retirement age. One concern she has is that the initial changes were implemented because of expected short falls in funding for the pro-
Where are they going to come up with the money?”
Rose Poulsen Senior Services Coordinator Town of Drumheller
“Where are they going to come up with the money?” she asks. “One of the reasons they did that was because of the funding.”
“But for people approaching 65 it will be good for everyone who is certainly going to be relying on that money, but there is the worry of fewer and fewer people making money and paying taxes, where is this money coming from?”