OTTAWA — Record-high spending forecasts for the old age security program show a need to rethink the age of eligibility, among other measures to keep it sustainable, the opposition Tories say.
The chief actuary’s report forecasts spending to hit about $247 billion by 2060 — five times what it is slated to be this year — due to a coming wave of retirements and people living longer, meaning they draw on old age benefits longer than the program originally envisioned.
The previous Conservative government raised the age of eligibility for OAS to 67 from 65 to save on costs and prod […]
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