GRT 2100 Lecture Notes - Lecture 7: Old Age Security, Canada Pension Plan, Pension
Document Summary
First old-age social insurance program was made in 1889, germany. Required employees, government, and workers to contribute. Private pension programs use 65 which lead to a sustainable system without payroll taxes. Ppl should take responsibility for themselves in old age or get help from family. Define pensions as a right for all older canadians. Men have greater to access to pensions. Supplements old age security and helps poorest older ppl. Income security programs: old ae security pension and the guaranteed income supplement. Income maintenance program: canada/ quebec pension plan. More diverse sources of income = better off they are financially income system. These programs secure seniors income particularly in poor. Poor/ rich get the same (if their income is more than set amt they need to repay oas) For ppl with no/ low income (varies by marital status) For survivors of oas pensioners, spouses/ ppl with one income, goes for women more.
