It is argued by some that eligibility for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) at age 65 discourages older Canadians from remaining in the workforce, and that we need to keep them working longer to avoid present and future labour shortages and a sharp rise in the so-called “dependency” ratio. Accordingly, the federal government proposes to phase-in an increase in the age of eligibility from age 65 to age 67, affecting Canadians who are now 54 and younger.
A new CCPA report, Working After Age 65: What is at Stake?, looks at some of the realities of working past age 65, and examines the potential impact of increasing the OAS eligibility age. The report finds that forcing Canadians without workplace pensions or large savings to work full-time past age 65 is unfair—especially given the high probability that the jobs many are able to find will be part-time and low paid.
Read the full report here.