Analyst warns against extending retirement age to 67
Published Sunday, March 25, 2012 4:19PM EDT
OTTAWA - Analysts say expected changes to Canada's Old Age Security program will mean higher costs for the provinces, territories and municipalities.
Phased in changes to the taxpayer-funded retirement program are expected to be outlined in this weeks' federal budget.
The changes are widely expected to include raising the eligibility age for OAS benefits by two years, to 67.
Carleton University professor Allan Maslove says such a move will force other levels of government to top up social program supplements for low-income earners.
He calls it downloading by stealth.
Federal officials acknowledge the changes will impact the provinces and territories, as well as businesses.
But a spokeswoman for Human Resources Minister Diane Finley says Ottawa will seek input from all levels of government and other stakeholders to deal with the fallout once the changes are announced.