Prime Min­is­ter an­nounces re­turn­ing OAS el­i­gi­bil­ity to 65

The Drumheller Mail - - REAL ESTATE - Pa­trick Ko­lafa The Drumheller Mail

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

gram.

“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?”

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.