Canada’s government pension program is wasting precious resources on seniors who don’t need financial help, some economists argue. The cost of Old Age Security (OAS), Canada’s largest seniors benefit program, is about to skyrocket, according to the latest review by the country’s chief actuary. Recent changes to the Canada Pension Plan introduced by the Liberal government will help curb those expenses a bit – but not by much, said the report.
Total annual OAS expenditures are projected to grow from $49 billion in 2016 to an eye-popping $247 billion by 2060.
READ MORE: Rising old age security spending curtailed by […]
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