Monday, April 9, 2012
Keddy: OAS Changes Necessary
The MP for South Shore-St. Margaret's says the old age security system needs to reflect the current labour conditions. The majority conservative government announced increases in OAS eligibility to 67 up from 65 in the federal budget. Canadians who get federal money from other programs will see their benefits extended until they can cash in on OAS/GIS. Gerald Keddy says the changes are necessary and reasonable. "What we are trying to do is get people to work longer those who are able to - those who are not able there is a social safety net in place for them. So it's not as if people will be abandon - that's not the case at all," Ottawa will start making the adjustments to old age security in 2023, and phase them in gradually over six years. It means anyone over 54 won't be affected while people in their early 50's will see moderate changes and Canadians under 50 will be directly impacted.