Canada says Old Age Security plan unsustainable

The latest news that seems to have generated a lot of interest among the Canadians of late is the tag of unsustainably attached with the security plan for old age. Only, a week back, the government has released a statement declaring so. There have been announced plans to modify it. However, this statement has incited the opposition to protest saying that an outright electoral promise was that the pension benefits for seniors would be free from being meddled with. The Canadian Prime Minister Stephen Harper has been harping on the fact that with the average life expectancy having increased in recent times, there needs to be made plans that sustain the lives in the coming future.

Amidst widespread concerns about the justification behind such a decision, the Prime Minister has been maintaining a calm face and also have been repeatedly insisting that there shall be no cutting transfer done to the individuals and that the present day retirees would not be hampered in any way at all. There has not been shed much light on the changes to be brought about. The only certain expectation remains that the eligibility age might be actuality raised to 37 years, over the existing 65 Years that exists now.

The prime reason that is being cited for taking such a step(in all probability) or taking any step to make the old age pension plans more sustainable is attributed to evading a possible crisis that looms large even over Europe. Moreover, the population receiving the old age security is bound to increase in the coming years.

The opposition has been on the lookout for the slightest clues as what exactly the government has in mind. However, it is to be seen in the next budget what changes are announced and how well they actually go on to bring in a positive impact.

The opposition has been doing its best to curtail such plans by passing motions in the House and the like. However, such a motion moved of late, fizzled out. In fact, to draw more attention to such an issue like the pension schemes, the Opposition is leaving no stones unturned. In fact, a cross country tour is being organized to bring this issue under focus. In fact, the Opposition has been having ideas to implants its own plans. All said and done, it is left to the policies to make their way into the pension plans. As long as it does nay good, Canadians will be happy!