Posted 10/14/2023, 10:00:00 AM
Rising Costs Threaten Sustainability of OAS Pensions Despite Need
- Preserving OAS is necessary but rising costs threaten sustainability. OAS costs growing much faster than revenues.
- Deficits being blamed on inflation but mostly result from rising OAS costs not matched by revenues.
- Outdated tax shelters for retirees drain billions that could help cover OAS costs instead.
- Age and Pension Income tax credits benefit retirees over younger, lower-income workers.
- Past governments failed to ensure revenue systems could support aging population. Need solutions beyond partisan blame.