Justin Trudeau confirms that Old Age Security will be returned to 65 from 67

 

…”I’m happy to confirm here in New York in Bloomberg interview that next week’s budget will feature that we would confirm and we will keeping the retirement age at 65…” –said Prime Minister Justin Trudeau

The Old Age Security (OAS) program is funded out of the general revenues of the Government of Canada and its largest pension program.  It is a monthly payment available to most Canadians 65 years of age who met the Canadian legal status and residence requirements.

In Budget 2012 during Harper’s reign, there had been changes in the program. One of the changes is the age of eligibility for Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) will gradually increase from 65 to 67 over six years, starting in April 2023.

So, in the 1^st Liberal Budget plan that will happen next week, PM Trudeau confirmed that OAS will be restored to 65. He called former Prime Minister Stephen Harper’s move to phase in a two-year increase in the retirement age a “simplistic solution to a complex problem that won’t work.”

 

PM Trudeau Video Interview

 

Source:

cbcnews

Image from Google