QUESTION PERIOD — Ministry of Employment and Social Development
Support for Seniors
October 7, 2025
When the Old Age Security, or OAS, was created in 1952, it paid $40 a month, or $467 in today’s dollars, for those aged 70 and older when the average lifespan at the time was 69 years.
Today, the average lifespan is 83 years, and monthly payments of $740 start at age 65. Retired couples with six-figure incomes of as much of $300,000 are receiving OAS. While the Canada Pension Plan, the CPP, is a prepaid system, the OAS is not funded. These OAS payments of billions of dollars to well-off seniors are not sustainable.
The organization Generation Squeeze is recommending that shifting the starting threshold for reductions of OAS payments from $90,000 of individual income to $100,000 of household income would save $36 billion over the next five years. Do you support this?
The Old Age Security system is a very important system to Canadians, and it is an income-tested program. At about $140,000, it drops off.
While a senior can receive the full Old Age Security, not every senior receives the full Old Age Security amount. Those who are the most vulnerable receive more funding.
It’s really important to know that this government can be trusted to protect the Old Age Security, to invest in what is important to Canadians and ensure that future generations have access to Old Age Security, to CPP and to GIS, the Guaranteed Income Supplement. We will ensure that investment continues to be in what Canadians find important. Thank you.
The problem, of course, is that the system is not sustainable. We have a desperate need for seniors who need the money. At the same time, well-off seniors are getting the money. We should condense that into a system helping those who actually need it. At the same time, younger Canadians are paying far more in taxes today than baby boomers paid back in the day, because they have to pay for these benefits for high-income seniors. The system should be adjusted before the money runs out. The young people of today will not have any of these benefits when they age, unless the government takes action now. Will the government take action?
The government is protecting the rights of Canadians to Old Age Security. We continue to build a stronger, more equitable public pension system.
