OAS Pensions at 67

[nube]

Average age of death is around 76 not 90.

[rightwing]

Well actually the average is 81.38, Males 78.1 and Females 84. Had to look it up, I thought it was a little higher as most my family the women at least make it to 100. Since females die later there OAS should be raised to 70. None the less the age is higher than when the programs were introduced, back when there was 9 workers for every retiree now there is only 4 workers. The Math doesn't work the government can't stick there heads in the sand any longer and run up the debt for future generations. Doesn't matter anyways the changes will come in effect after most of the baby boomers retire.

[AxeMan]

I can't believe the sense of entitlement from the baby boomer generation. OAS or CPP was never meant to be your retirement income, it's a supplement to the money you were suppose to save over the last 45 years for your retirement. If you forgot to save and blew it, guess what you work a little longer.  These programs were originally designed when people died at 70, now that we die at 90 it's not sustainable, should the government just create some more money out of thin air? Taxpayers pay for the first 22 years of our life, should they pay for the last 30 years of your life to? That's 43 years of working to pay for 50 years of not working, it doesn't add up. Stop counting on the government "taxpayer" to fund your poor decisions.

Just a couple of questions that came to my mind when I read this, Rightwing?  Perhaps you could clarify.  I am not disagreeing with everything you are saying BTW.  I am hardly a baby boomer at 49 as well.

Who said CPP and OAS was anything more than a supplement to retirement income?  You are correct with that assumption.  Why the shot at the baby boomer generation? The vast majority have saved their own nest eggs.  There are those in every generation that piss away their savings or never work hard enough to earn any.
What is wrong with getting back some of the exorbitant taxes that we pay over a lifetime as a taxpayer?  How about asking for more accountability on other wasteful programs first.

How did the taxpayer pay for the first 22 years of our lives?  Are you referring to government subsidized daycare which is an expectation of the current 20 something generation, certainly not the baby boomer generation. Neither my parents nor I have raised their kids on the backs of the taxpayer.  Actually we are the taxpayer (school taxes were on my tax bill last time I checked).  Actually, here is an idea and it fits your thinking: let's stop letting the taxpayer fund daycare for young families.  Hell, the baby boomers never had it!

Governments never make money out of thin air.  It is all tax money, yours, mine, and the baby boomers.  They can print more but the overall value just becomes less.

One could easily make the argument that the younger generation is balking at paying the taxes now it is their turn.  The age demographics is the main problem at keeping these programs afloat not the sense of entitlement from a certain generation.  It seems that Canada is having a mini population boom right now as the latest growth figures indicate.  Perhaps some sound government management can save these programs which give back to the taxpayer while some others that are strictly wasteful can be canceled. I suggested some earlier in this thread.

One other thing that is a product of the baby boom generation that no one speaks of is the inheritance factor.  Much wealth will be passed on to the younger generations while this was not so much the case for many of the older baby boomers.

I don't think it fair to make general statements that pin the "entitlement" image on the baby boomer generation.  It just isn't true.

[rightwing]

You make some good points Axeman, why the shot at the baby boomers?, well thats who I am hearing the most complaining from on this issue with good reason as they are closer to retirement. Don't get me wrong Canadians as a whole feel entitled not just the boomers and I call them out no matter the age.
When I refer to the taxpayer paying for the first 22 years of life I refer to the school system.
I have 3 kids under 5 and I am totally against subsidized daycare, I agree with you there. Your right about the Inheritance, I read somewhere the greatest wealth transfer will be from the 70-90 year olds to the boomers. Hopefully theres some left when it gets to me lol.

[Tuc]

I can't believe the sense of entitlement from the baby boomer generation. OAS or CPP was never meant to be your retirement income

RW are you kidding?
It's the babyboomers who built this country into what it is today. We pay into Canada pension and we also pay into OAS, in regards to the taxes they deduct from us in general. Where do you think OAS comes from? Though it doesn't show on our pay stubs, believe you me, you and I pay for it with our tax money.
Now are we not entitled?

I suppose they can give it to immigrants who come to Canada, after 10 years and if they turn 65 can draw a pension? Thats the biggest crock of shit I ever heard. You talk about managing money for retirement, that's not the point. I have RSP's and other retirement income but I like most seniors look forward to the day it's payback time. The politicians take more than their share for pensions and they don't have to serve very long. I can't understand how anyone could begrudge any hard working Canadian (who has worked his/her whole life) their right to the little measley OAS pension that they are entitled to.
Don't worry, you'll change your tune when it's your turn!

[walleyes]

I can certainly understand where you are coming from Tuc and you are right if it was promised and you paid in to it it should be yours,, but really be honest,, there isn't a baby boomer alive that couldn't see this coming down the pike. I mean I am just off of the boomers by a couple years and I have been hearing this for as long as I can remember. Shoulda, woulda, coulda has little to with it,, it is what it is..

I do definitely agree with you all that it burns my ass to think that immigrants to this country can enjoy the same benefits as the rest of us just after a few short years of contributing.. Maybe we have another major election issue here now that the gun registry looks like its going to be done with..