Prime Minister Justin Trudeau says next week’s federal budget will restore the age of eligibility for old age security to 65.
Trudeau says the decision by the previous government to increase it to 67 was not the right approach and there needs to be more thought given to the system of supporting Canada’s seniors.
Read: The impact of returning OAS to age 65
The Liberals had pledged during the campaign to undo the Conservatives’ decision to raise the age of eligibility for OAS, which wasn’t going to take effect until 2023.
The budget is to be tabled on March 22 and Trudeau says the Canadian economy doesn’t need to be jolted into life as it did after the 2008 recession.
Read: Sounding Board: Why Trudeau should support target benefit pensions
He says it is more important to lay the foundation for longer term growth.
He made the comments during an interview with Bloomberg in New York where he is travelling this week meeting with political and business leaders.