He says changes won’t kick in without fair notice but if you’re among those in my age bracket or younger, I wouldn’t be putting all my eggs in the pension basket if I were you.
In his recent speech at a World Economic Forum held in Switzerland Stephen Harper said that demographic pressures from an aging population could force Canada to “limit” spending on pension programs.
“Our demographics also constitute a threat to the social programs and services that Canadians cherish,” he stated adding, a part of the plan to cut back could include raising the eligibility age on Old Age Security from 65 to 67.
In spite of the fact the federal government has assured changes won’t happen overnight, it leaves many to wonder about the future.
“Instead of bringing in the changes our pension system needs to ensure sustainable prosperity, this government is stripping benefits from seniors that they rely on and have earned. This is completely unacceptable,” says MP Bob Rae, interim Liberal leader.
Rae also says Harper hasn’t been clear with Canadians on his approach to the pension issue, and he criticizes Harper for not bringing his intentions about pensions to the public during the last federal election. “He didn’t have to go to his alpine perch to let us in on the news... He should have told Canadians before the election.”
We have seniors – many of whom have worked years contributing to our society – who are struggling to make ends meet as it is, what will become of them if we take their pensions away?
And another good question being posed is: will the pensions of Canada’s MPs also be adjusted accordingly?
Let’s face, fair has to be fair.
With all that said, the door has been opened and the conversation has begun. We’re living in uncertain economic times and if something doesn’t change, Canada – like our neighbors south of the border – could be headed for trouble. We obviously can’t work our seniors to the grave, someone has to stand up for their rights and something will have to give.
Let’s hope the current government gives plenty of thought to the matter before any final decisions are made.