My comment on an article by Andrew Coyne, The Ottawa Citizen
February 2, 2012
Canada has two long term, call them ‘permanent problems’ with OAS.
Deferring a decision on these problems until later will only make the problems worse – and harder to solve.
The reported problem as Andrew lays out so well and with plenty of facts – thanks for that Andrew – is a larger percentage of Canada’s population are going to be retired and well into their retirement years as compared to the percentages we’ve seen in recent decades.
The under-reported problem regarding OAS is too many high income retirees are collecting OAS, when emphatically – they don’t need it.
For retired individuals earning over $50,000. per year, there should be no OAS payment to them. If their yearly income from all sources ever dips below $50,000/yr, then, of course, they should automatically have their OAS benefit re-instated, without any extra effort on their part.
Adopting this policy now would save millions of dollars now and in the future and with the slightest inconvenience!
This gallery contains 0 photos