Prime Minister Stephen Harper has announced that his Conservative Government will raise the age of eligibility for Old Age Security (OAS) from 65 to 67 years old.This decision has enraged Canadians of all ages because, as it stands right now, OAS is a modest but essential benefit that provides retirees with roughly $508.35 per month, or $6100.20 per year.
The Conservatives claim that as the “Baby Boom” generation ages, OAS will become too expensive. However, Parliamentary Budget Officer Kevin Page has stated that the “Boomers” will not break the bank. He says “there is no fiscal reason to raise OAS.”
Many UFCW Canada members are counting on OAS to help them retire with dignity once they turn 65. If working Canadians have to wait until they are 67 to receive their benefits, fewer people will retire on time and young workers will be denied opportunities to fill job vacancies.
By cutting OAS, the Conservative Government will inflict financial harm on today’s youth. Company pension plans are nearly extinct and well-paying, full-time jobs are scarce. Without an adequate OAS benefit, young Canadians will barely have anything to live on when they retire.
We believe the Conservative Government's attempt to divide seniors and youth on this issue is unacceptable and cowardly. Help us stop the attack on Canadian retirement security by signing the letter below and sending it to the Prime Minister.