That large smacking sound you hear is the Liberals and NDP licking their lips as Prime Minister Stephen Harper at the Davos Economic Forum discussed reforming the Old Age Security pension, possibly raising the age at which seniors receive the payment to 67.
The Old Age Security only consumes about 2.41 per cent of GDP, much lower than in most countries. In 2031 at the top of the baby boom retirement demographic, the OAS will consume only 3.14 per cent of GDP. That’s a lot of money, but it is not a catastrophe.
So generations of Canadians have been promised pensions under certain conditions and now the ground is being taken out from under them by Harper. Pension reform is just unnecessary yet Harper is not proceeding on logic, but ideology. First Harper caps federal health payments, now he wants to reform promised pensions. The large senior boomer demographic is unlikely to approve.
That allows an opportunity for the Grits and the NDP. “Would you rather have your pensions and health care or a bunch of new fighter jets?” you’ll be able to hear them cry on the hustings.
Harper let ideology triumph over logic in crime legislation. Now he’s doing the same thing with pensions and health care.
Good luck, Prime Minister, in the next election.
Original Article
Source: ottawa citizen
Author: Ken Gray
The Old Age Security only consumes about 2.41 per cent of GDP, much lower than in most countries. In 2031 at the top of the baby boom retirement demographic, the OAS will consume only 3.14 per cent of GDP. That’s a lot of money, but it is not a catastrophe.
So generations of Canadians have been promised pensions under certain conditions and now the ground is being taken out from under them by Harper. Pension reform is just unnecessary yet Harper is not proceeding on logic, but ideology. First Harper caps federal health payments, now he wants to reform promised pensions. The large senior boomer demographic is unlikely to approve.
That allows an opportunity for the Grits and the NDP. “Would you rather have your pensions and health care or a bunch of new fighter jets?” you’ll be able to hear them cry on the hustings.
Harper let ideology triumph over logic in crime legislation. Now he’s doing the same thing with pensions and health care.
Good luck, Prime Minister, in the next election.
Original Article
Source: ottawa citizen
Author: Ken Gray
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