The Problem
Old Age Security is 75 years out of date. Its 1950s design is dragging down today’s budget, and letting down seniors and young people alike.
OAS leaves half a million seniors in poverty, yet gives retiree couples with $180,000 incomes full benefits.
Young people pay more taxes to support seniors than today’s retirees paid for their elders, but this solidarity is met with far lower levels of investment in housing, child care or education.
Canada is mortgaging the future to cover rising OAS costs. Spending money we don’t have is ballooning the deficit, and leaving unpaid bills to our kids.
