Budget to push back retirement to age 67: media
$4 billion and $8 billion in annual cuts likely in March 29 budget
Jim Flaherty, Canada’s Minister of Finance speaks to Canadian Club of Toronto, November 25, 2011. The Conservative government’s much-anticipated budget will include plans to push back Old Age Security benefits until age 67, The Globe and Mail reported Thursday. (PHOTO BY ALEX UROSEVIC, NATIONAL POST/ POSTMEDIA NEWS)
POSTMEDIA NEWS
The Conservative government’s much-anticipated budget will include plans to push back Old Age Security benefits until age 67, The Globe and Mail reported Thursday.
The Globe and Mail said it had learned that the changes will be phased in over a number of years.
The government has promised changes won’t affect current seniors or those nearing retirement.
The Harper government is hunting for between $4 billion and $8 billion in annual cuts as part of its sweeping program review, with broad details to be released in the budget.
Finance Minister Jim Flaherty will rise in the House of Commons around 4 p.m. to deliver the government’s financial blueprint for the 2012-13 fiscal year — the first true Harper majority government budget — ending months of speculation about the Conservatives’ road map for the country.
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