PowerPoint Presentation

Old Age Security Canada - AnalysisBy: Paul Young, CPA, CGA

DisclaimerThis presentation is one opinion of Old Age Security

Paul Young - Presenter

BioCPA/CGA25 years of experience in Academia, Industry and Financial solutionsYoutube Channel - https://www.youtube.com/channel/UCAArky1bAXPSuV2NLtUnyLg

AgendaWhat is OASLife ExpectancyPaymentsProgram CostPolicy Analysis

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What is OAS?

http://www.esdc.gc.ca/en/cpp/oas/index.page?_ga=1.259587274.1351668865.14583902535

OAS Life Expectancy

OAS Payment / Individuals

http://www.esdc.gc.ca/en/cpp/oas/payments.page7

OAS Program Costs

http://www.esdc.gc.ca/en/statistics/pension/index.page

Or

http://www.osfi-bsif.gc.ca/eng/oca-bac/ar-ra/oas-psv/pages/oas12.aspx

Or

https://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2012/02/OAS.pdf

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OAS Liberal program - 2016

Prime Minister Justin Trudeau says next weeks federal budget will return eligibility for Canadas Old Age Security pension to 65 years old. Canadians are living longer and healthier lives, and the OAS program needs to reflect this new reality and provide the option for individuals to work longer and receive higher retirement benefits, Conservative MP Karen Vecchio said in a statement.Source - http://www.theglobeandmail.com/news/politics/liberals-to-return-oas-eligibility-to-65/article29271018/

OAS key videoPBO Comments - http://www.theglobeandmail.com/news/politics/keeping-oas-age-at-65-will-eventually-cost-112-billion-a-year-budget-watchdog/article29673290/The program will required risk tests to ensure the program is sustainableGovernment Pension (OAS)https://www.youtube.com/watch?v=2APFL728M-M OAS was designed to moved seniors out of povertyPaid out of general revenueLife expectancy has increasedProgram has to be sustainable https://www.youtube.com/watch?v=ZJO_SlEbwDo

Policy change from 67 to 65 Old Policies

Globe & Mail

Additional revenue or spending cuts will be requiredHiking personal income taxHiking consumption taxCutting program spendingHiking Corporate Taxation

http://www.theglobeandmail.com/news/politics/changes-to-old-age-security-equal-big-savings-for-ottawa-big-costs-for-seniors/article4186870/11

Pension / Analysis Globally

http://www.mercer.ca/content/dam/mercer/attachments/global/Retirement/Melbourne-Mercer-Global-Pension-Index-2015/Report.pdf

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