The number of old age security beneficiaries is expected to increase by 60% within the next two decades, according to a report.
CARP is calling on the federal government to fight seniors’ poverty by eliminating mandatory minimum withdrawals from RRIFs, relaxing GIS rules and introducing measures to counteract the OAS changes for the most needy.
Employment and Social Development Canada says the benefit amount for Old Age Security will stay the same for April to June.
Pensions help not only provide retirees with the financial support they need but also provide a benefit to the overall economy.
A new report argues that efforts to revamp the Canada Pension Plan should take a back seat to a couple of straightforward policy reforms that would take the majority of single impoverished seniors out of poverty.
Employment and Social Development Canada says the basic old age security pension benefit will increase by 0.2% to $550.99 per month for the maximum benefit from Oct. 1 to Dec. 31, 2013.
At last week’s Council of the Federation meeting, Canada’s premiers discussed the retirement income system and the importance of continued efforts to ensure future seniors are able to retire with secure and adequate income.
Canada’s seniors now have the option to delay receiving their old age security for up to five years past the age of eligibility.
In Canada, there has been a lot of talk about the current public retirement system and how it should be improved. But how does Canada’s program shape up against others?
Ottawa's move to increase the age of eligibility for old age security (OAS) and guaranteed income supplement (GIS) benefits to 67 from 65 could end up saving government more than $10 billion a year by the time it's fully implemented, according to a report by the auditor general.