Thursday's announcement appears to have solidified all the talk about raising the retirement age. For all individuals under the age of 54, collecting Old Age Security will begin at 67, up from 65. What do you think?
See an excerpt from a CBC article below.
* * * * *
Budget makes late retirement the new normal
By Kazi Stastna, CBC News
The news was not unexpected, and for those of Generation X age or younger, it was simply more confirmation of what they've been told most of their lives: expect to work longer and retire poorer than your parents.
 |
| Finance Minister Jim Flaherty |
Finance Minister Jim Flaherty announced in Thursday's federal budget that the government is raising the age of eligibility for Old Age Securityfrom 65 to 67. The government had already hinted it would do so earlier this year, but made it official in the budget, saying it will phase in the changes over six years starting in April 2023 and won't apply the new rules to anyone born before April 1,1958.
See the rest of the CBC article here.
Source URL: http://www.cbc.ca/news/business/taxseason/story/2012/03/29/f-budget-old-age-security--interview-woolley.html
