Federal Government Economic Advisory Council Reccomends Raising OAS to 67

[Decapoda]

Politics or sound policy? Liberals have another choice to make.

The federal government’s economic advisory council led by the managing director of global consulting giant McKinsey & Company has called on the federal government to reverse several of its most high-profile policies. Many of the policy recommendations submitted by the council would likely lead to improved economic growth. It is, therefore, political barriers rather than economic concerns that would impede such policies.

One of the highest-profile recommendations is the raising of the age of eligibility for retirement benefits from public programs to 67 from 65. While in opposition, as well as during the 2015 federal election campaign, the Liberals heavily and consistently chastised the governing Tories for raising the age of eligibility for Old Age Security (OAS).

The proposal from the council calls for a much broader reform, which is raising the age of eligibility for all public programs including OAS as well as the Canada Pension Plan and other senior benefits. Such a reversal would be politically costly, particularly given the government’s recent high-profile reversal on its electoral reform promise. But raising the age of eligibility makes eminent sense when one considers the aging of our population.
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The Trudeau Liberals seem to be in a place where they’re increasingly being forced to recognize the difference between governing and campaigning (and being in opposition). Governing requires difficult decisions that are in the best interests of the population at large.
As evidenced by the reversal on electoral reform, the governing Liberals have shown their ability to lead. The question now is whether they will accept the analysis of their own advisory council and reverse course on yet more policies.

Liberals have another choice to make.

What's a leader to do...acknowledge the recommendations of it's economic advisory council and look like a partisan hypocrite or reject them to save face and hold to flawed ideals? How many broken promises are they up to now??

 

[tay]

 

[IdRatherBeSkiing]

I have always maintained we will never see a dime from CPP even thought we have paid into it all our lives. It will be sucked dry by the older retirees or the government.

 

[Decapoda]

I'm not sure Trudeau has the fortitude to respect the advisory council, his reckless outward contempt for the well being of this country's economy coupled with the importance he places on his image would suggest that the decision will make itself, in much the same way as as budget's balance themselves.

 

[Cannuck]

Seniors are entitled to their entitlements.

... his reckless outward contempt for the well being of this country's economy coupled with the importance he places on his image ....

Trudeau sounds alot like Trump

 

[tay]

Seniors are entitled to their entitlements.

Trudeau sounds alot like Trump

He sounds exactly like Harper............

 

[Cannuck]

He sounds exactly like Harper............

None of them were fiscally conservative

 

[tay]

I'm not sure Trudeau has the fortitude to respect the advisory council, his reckless outward contempt for the well being of this country's economy coupled with the importance he places on his image would suggest that the decision will make itself, in much the same way as as budget's balance themselves.

fortitude?

I don' think he has the fortitude to ignore the advisory council......

 

[Decapoda]

fortitude?

for·ti·tude (fôr′tĭ-to͞od′, -tyo͞od′) n. Strength of mind that allows one to endure pain or adversity with courage.

 

[tay]

for·ti·tude (fôr′tĭ-to͞od′, -tyo͞od′) n. Strength of mind that allows one to endure pain or adversity with courage.

I know what fortitude means and I do not believe he has the fortitude to go against the corporates and support what Canadian retirees have paid into and earned which is full retirement at 65.

As seen in the long post the CPP is the best funded plan in the world........

 

[Decapoda]

I know what fortitude means ..

Then a question mark would not likely be the most logical choice of punctuation.

I do not believe he has the fortitude to go against the corporates and support what Canadian retirees have paid into and earned which is full retirement at 65.

You may be right, hypocrisy and breaking promises does seem to be getting easier for him.

 

[Mowich]

"There's a bundle of things to look at, but the place that we are returning to, because it was a mistake to bounce it up to 67, is we're starting from 65," the prime minister told Bloomberg's John Micklethwait.

Justin Trudeau says OAS eligibility age to return to 65 in 1st Liberal budget - Politics - CBC News

 

[tay]

Economists only have one way to look at issues and the GDP is all important.

Quality of life, nope, thinking outside the box and perhaps suggesting shorter work weeks but longer working lives, nope. Always growth and now the way to do that is to have us work cradle to grave. What good is technological advancements for humanity if we are not allowed to benefit from them and instead must still feed the machine. We are humans not economic equations.

I would be in favour of someone having the option to retire at 65 with a full pension or not to do so and work longer for an enhanced pension if they want to.

CPP is fully funded 75 years out based on current contribution rates.

OAS is unfunded and is paid from general revenue.

I suggest cutting the qualification level by half. It's beyond ridiculous that we're sending welfare cheques to single retirees with $72,000 and couples with $144,000 incomes before clawback begins..........

 

[darkbeaver]

Economists only have one way to look at issues and the GDP is all important.

Quality of life, nope, thinking outside the box and perhaps suggesting shorter work weeks but longer working lives, nope. Always growth and now the way to do that is to have us work cradle to grave. What good is technological advancements for humanity if we are not allowed to benefit from them and instead must still feed the machine. We are humans not economic equations.

I would be in favour of someone having the option to retire at 65 with a full pension or not to do so and work longer for an enhanced pension if they want to.

CPP is fully funded 75 years out based on current contribution rates.

OAS is unfunded and is paid from general revenue.

I suggest cutting the qualification level by half. It's beyond ridiculous that we're sending welfare cheques to single retirees with $72,000 and couples with $144,000 incomes before clawback begins..........

This blanket entitilment question has come up before in Canada, a long time ago, the formulas need reworking but stiill the recipiants in question are entitled under law. Is this a sticky wicket?

Sure I have millions, so what send me my cut of Canada. How do you know that I don't give it to Syrian reugees in my neighborhood?

 

[pgs]

Of course one of the Liberals first moves was returning future retirees benefits back to age 65 . Now he hopes future retirees will forget this in 3 or 4 years , and he is probably right .

 

[tay]

This blanket entitilment question has come up before in Canada, a long time ago, the formulas need reworking but stiill the recipiants in question are entitled under law. Is this a sticky wicket?

Sure I have millions, so what send me my cut of Canada. How do you know that I don't give it to Syrian reugees in my neighborhood?

OAS clawback only.

These changes make little sense in an environment where real under/unemployment is quite high, particularly among younger people who we need to drive things going forward.

The skills shortage could largely addressed by governments/companies actually training their employees rather than encouraging the 65+ demographic to work longer.

The emphasis should be on getting Canadians trained and working, and scaling down on outsourcing and bringing in TFWs.

 

[davesmom]

Harper went that route and the opposition almost exploded. Did Trudeau think enough time had gone by for people to forget about that and that he's finding out Harper wasn't so wrong as the Liberals thought?

 

[Johnnny]

Is Trudeau secretly a conservative?

 

[Corduroy]

Buncha freeloading snowflakes anyway. Suck it up old man and start collecting bottles.

 

[tay]

Harper went that route and the opposition almost exploded. Did Trudeau think enough time had gone by for people to forget about that and that he's finding out Harper wasn't so wrong as the Liberals thought?

It's not necessarily a personal decision by the leaders but by the backroom corporate greedies. Now if those leaders of said parties accept those recommendation's, then we can tar and feather them but until then, send them a message that you don't want to see this happen....

Looking forward to settling into retirement?

The CEOs who advise Finance Minister Bill Morneau would like you to work a couple more years into your late 60s.

That's the recommendation from the Liberal government's Economic Advisory Council, who presented Morneau with a proposal this week to reverse a key Liberal campaign promise and discourage seniors from retiring until they're 67-years-old.

The proposal includes a plan to increase the eligibility age for both Old Age Security (OAS) and the Canada Pension Plan (CPP) from age 65 to 67.

If that sounds like an idea you've heard before, that's because it is – Stephen Harper's Conservatives controversially raised the retirement age to 67 in 2012.

Prime Minister Justin Trudeau has called that decision a "mistake" and stated "tweaking the age like that is a very simplistic solution that won't work." Last year's Liberal budget reversed Harper's decision and left the retirement age at 65.

Now Morneau says's he's "open" to reversing that reversal.

Here are three reasons why that would be a terrible idea:

https://www.pressprogress.ca/3_reas...eau_should_not_raise_the_retirement_age_to_67