FRHD 3090 Lecture 7: Age security
2 Dec 2016
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Document Summary
Old-age income security: 75 years in the making. Permitting the federal government to give assistance to provinces that provide a pension to british subjects aged 70 and older. Establishing a rederally funded pension, it replaced the 1927 legislation that required the federal government to share the cost of provincially run, means-tested old age benefits. Lowered the eligible age for the oas pension to 65, one year at a time starting at age 69. 1965 amendments to the old age security. 1967 the guaranteed income supplement established under the old age security. Full annual cost-of-living indexation was introduced for oas. Full annual cost of living indexation was introduced for the cpp. The spouses allowance was established as part of the old age security program. The same canada pension plan benefits became available to male and female contributors, as well as to their surviving spouses or common-law partners and dependent children.
