Thinking the Unthinkable: A Targeted, Not Universal, Old Age Pension

In 1991, Canada’s 3.2 million women and men aged 65 and older constituted 11.6 percent of the population. Recent projections by Statistics Canada put the aged at 8.6 million or 23.2 percent of the population by 2036.  The relentless growth in the elderly is the major long-term cause of increasing social spending.  This commentary proposes a new income security system for the elderly.  The new approach would replace existing programs (Old Age Security, Guaranteed Income Supplement, Spouse’s Allowance) and several tax credits with a single, adequate, fully-indexed income-tested benefit targeted to low- and middle-income persons aged 60 and older.

ISBN – 1-895796-10-5