Friday, March 30, 2012

Canadian Budget

From BBC:
"Canada budget raises pensions benefit age"

The eligibility age for Canada's Old Age Security (OAS) benefits will rise to 67 from 65 starting in 2023, as part of the government's new budget. The budget outlines C$5.2bn (£3.3bn) in cuts, with reductions across defence, health care and agriculture. The change to the OAS will not affect Canadians who are currently above the age of 54. The benefit is worth C$6,000 a year and the age change will also apply to a supplemental programme. While the move has been explained as a way to deal with increasing costs of the benefit to the government because of the baby boomer generation, most boomers will not be affected by the increase.

^ I'm not sure if this is a good thing or not, but the one thing I do like about it is that they "grandfathered-in" people who are 54 and older so it won't affect them. Regardless if the budget is good or not this one provision is the right choice. ^

http://www.bbc.co.uk/news/world-us-canada-17556878

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