Monday, July 30, 2018

Another Money Monday, another Terminology Talk! Today we're breaking down the Old Age Security (OAS) program:

Old Age Security is considered the cornerstone of Canada’s retirement system. It is non-contributory and pays a modest income to most Canadians provided they are age 67 or older, (for those born in 1963 or later), and their incomes must remain in a certain threshold. The previous qualifying age of 65 is being adjusted due to the aging boomers and our increasing longevity. This causes and imbalance of our worker/ retiree ration. GIS and Allowances are similarly affected.

Posted at 10:50 AM