tenkly
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Canadian conservatives push the Age of retirement from 65 to 67.
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http://www.globalnews.ca/budget+brings+big+changes+for+retirement+income/6442610751/story.html
Critics of the plan dispute the argument the retirement system is unsustainable – a view supported by a recent report from Parliamentary Budget Officer Kevin Page.
“These are unnecessary changes driving by political considerations, not fiscal considerations,†said David Macdonald, an economist at the Canadian Centre for Policy Alternatives.
Macdonald said the OAS has been a mainstay for Canadians, and that the changes are just going to drive up the number of seniors in poverty.
Other budget measures to ease the tension of Canada’s changing demographics include incentives to keep working and changes to survivor benefits.
Canadians can delay receiving their OAS pensions starting next year in order to receive a higher pension later, a measure that could encourage people to continue working. A five-year delay could mean $2,000 more in monthly payments.
The budget will see people collecting an OAS survivor allowance will also have to wait longer to collect the benefit as the government increases the eligibility ages from 60-64 to 62-66 starting in April 2023.
A final measure change to OAS will make enrollment automatic, eliminating the need for seniors to apply for the benefit.
Promising to hold the government accountable for a budget that delivered reckless cuts, NDP leader Tom Mulcair attacked the Conservatives for its new pension policy.
“The Conservatives ran an entire election campaign without saying a word to Canadians about their plans to cut OAS or health transfers,†Mulcair said. “Clearly Mr. Harper is not a man of his word.â€
The Liberals said the changes pit generations against each other.
“Unfortunately, this budget has no real measures to grow jobs, and address youth unemployment and Canada’s skills shortage," said Liberal leader Bob Rae. "Moreover, it will worsen income inequality by increasing the qualifying age for the Old Age Security from 65 to 67, and by failing to make tax credits refundable for family caregivers, volunteer firefighters, children’s activities and the disability tax credit."
Read it on Global News: Global News | Budget brings big changes for retirement income
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"You're a weird dude, Tenkly. Knife fights with women and you dress your cat up in sweater vests."- ZigmundZag
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Thugoneous
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Canadian conservatives push the Age of retirement from 65 to 67.
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Sounds like they are trying to solve problems up there, even if the results are not going to be popular. Enjoy the extra two years of work.
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Yukishiro1
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Subject:
Canadian conservatives push the Age of retirement from 65 to 67.
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tenkly posted:
A five-year delay could mean $2,000 more in monthly payments.
Holy shit. How much do you crazy Canucks pay your old people that you're gonna pay them another $2000 PER MONTH just for putting off retirement 5 years?
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Abaddon_Ambrosius
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Subject:
Canadian conservatives push the Age of retirement from 65 to 67.
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Yukishiro1 posted:
tenkly posted:
A five-year delay could mean $2,000 more in monthly payments.
Holy shit. How much do you crazy Canucks pay your old people that you're gonna pay them another $2000 PER MONTH just for putting off retirement 5 years?
Yeah. Inquiring minds want to know.
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Koneg
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Subject:
Canadian conservatives push the Age of retirement from 65 to 67.
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Here's a concept - provide for your own gawd damn retirement. 
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the_great_intex
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Canadian conservatives push the Age of retirement from 65 to 67.
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Government posted:
People need to stop living so long!!! 
I think if anything it should be lower. People in general work already too much. There's 0 chance in hell I'll allow myself to keep working, unless I really like my job like I do right now, past 55
Then again social security is about as retarded as the people who don't plan for retirement
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PackHunter
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Canadian conservatives push the Age of retirement from 65 to 67.
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Meh, they may not last the year in power.
This budget may not be worth the paper it is printed on.
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Bonzoboy1
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Subject:
Canadian conservatives push the Age of retirement from 65 to 67.
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I like my job so I'm not sure how long I will work but I'm in the process of buying another company and since one of my nephews has started working for us I might have a successor to groom so I doubt I will retire any time soon.
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Fat_wong
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Subject:
Canadian conservatives push the Age of retirement from 65 to 67.
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PackHunter posted:
Meh, they may not last the year in power.
This budget may not be worth the paper it is printed on.
exactly how are they not gonna be in power for more then a year?
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theredkay1
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Canadian conservatives push the Age of retirement from 65 to 67.
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Koneg posted:
Here's a concept - provide for your own gawd damn retirement.
How do you think the retirement fund is funded? Magic money?
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Aerlinthian
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Canadian conservatives push the Age of retirement from 65 to 67.
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lol @ socialism
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YouMightSeeMe
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Canadian conservatives push the Age of retirement from 65 to 67.
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Lol@Consumerism
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PackHunter
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Canadian conservatives push the Age of retirement from 65 to 67.
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Fat_wong posted:
exactly how are they not gonna be in power for more then a year?
Some court cases involving overturning election results were just filed.
Elections Canada is investigating voting irregularities in 200 ridings involving American-styled voter suppression tactics.
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Eternal_Midnight
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Canadian conservatives push the Age of retirement from 65 to 67.
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I am ok with raising the retirement age to 67, and this will affect me.
People have to make sacrifices, and people ARE living longer. This is a natural change to reflect that people live longer now than they did when the 65 age was first chosen.
Yuki: it's not $2000 PER MONTH, it's an extra $2000 TOTAL, divided up into monthly payments.
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Akza
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Canadian conservatives push the Age of retirement from 65 to 67.
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theredkay1 posted:
Koneg posted:
Here's a concept - provide for your own gawd damn retirement.
How do you think the retirement fund is funded? Magic money?
I'm building up my 401k with an equivalent 15% of my income. If shit hits the fan where SS is becoming insolvent, then the markets likely are dropping like a rock too. Ah well I'll keep working like a worker bee for my slave masters~
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Crackdoc
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Canadian conservatives push the Age of retirement from 65 to 67.
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This legislation (budget) isn't pushing back anyones' retirement age, it is simply raising the age at which one government handout is available to people that didn't or couldn't save for the day they actually retired.
Retire when you wish - Canada Pension starts as early as 60 if you want to take a cut.
Personaly, I think anyone looking so dimly into the future that they can't save some money every year for their retirement doesn't deserve much sympathy.
Live within YOUR means, NOT mine!
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Kjarhall
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Canadian conservatives push the Age of retirement from 65 to 67.
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Crackdoc posted:
This legislation (budget) isn't pushing back anyones' retirement age, it is simply raising the age at which one government handout is available to people that didn't or couldn't save for the day they actually retired.
Retire when you wish - Canada Pension starts as early as 60 if you want to take a cut.
Personaly, I think anyone looking so dimly into the future that they can't save some money every year for their retirement doesn't deserve much sympathy.
Live within YOUR means, NOT mine!
Some people don't have money that's available to 'save'. HTH
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Eternal_Midnight
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Canadian conservatives push the Age of retirement from 65 to 67.
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There was another enormous cost in this budget that no one is talking about: with the phasing out of the penny, thoughts are now 5x as costly!
Many Canadians have vowed to stop thinking in response.
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Yukishiro1
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Canadian conservatives push the Age of retirement from 65 to 67.
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Eternal_Midnight posted:
Yuki: it's not $2000 PER MONTH, it's an extra $2000 TOTAL, divided up into monthly payments.
Ok. You need to spend more on educating your journalists. Maybe you could educate our fox news people too at the same time while you're at it. As charity. Orsomethe.
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Yukishiro1
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Canadian conservatives push the Age of retirement from 65 to 67.
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Eternal_Midnight posted:
There was another enormous cost in this budget that no one is talking about: with the phasing out of the penny, thoughts are now 5x as costly!
They estimate this part is going to cost another 750 bucks a year.
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GrymmDAOC
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Canadian conservatives push the Age of retirement from 65 to 67.
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It was neccessary. I did notice though the Government made sure it would not impact the pensions of the boomers.
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PackHunter
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Canadian conservatives push the Age of retirement from 65 to 67.
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I'm the sure GIS and OAS = Welfare talking point will be getting a lot of airtime.
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Crackdoc
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Canadian conservatives push the Age of retirement from 65 to 67.
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PackHunter posted:
I'm the sure GIS and OAS = Welfare talking point will be getting a lot of airtime.
Aren't they?
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People in the Middle-East: They Are ALL Crazy as BedBugs!!!
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