When OAS was created in 1952, things looked pretty different in Canada. We didn't have the Canada Pension Plan. We didn't have as many tax shelters for retirees, like the Age Credit and the Pension Income Credit. People didn't expect to live for as many years post retirement. And we had 7 working age Canadians paying taxes to help support each retiree - now there are only 3 worker per retiree.

With all of the changes that have taken place between 1952 and today, it's no surprise that we're well past due on updating OAS. It's time to make sure OAS is fit for purpose in 2025.