Numerous news reports over the last few weeks have been rife with “he said, she said” accusations over just what, if any, changes the feds are going to make to Old Age Security (OAS). Government lackeys have been quick to respond that nothing would change until 2020 or maybe 2025.
Now the first thought that comes to mind is why would a government that has a mandate only until 2015 be throwing around speculation for 5 – 10 years past that? Their decision, somebody else’s problem? Or is it just another pot-stirring issue that will cost us, the taxpayer, more money as future governments waste time and money implementing, cancelling, re-implementing decisions made in the past.
The most talked-about suggestion is to delay qualification for OAS until age 67 instead of the current 65. Now for me and for some of you, that would be an inconvenience, and certainly a frustration, but in the greater scheme of things no big deal. But we all know someone who has a physically demanding job, a job that is getting more and more difficult to execute every year as their bodies feel the toll. Other people have jobs with certain levels of danger that could put them and others at risk by forcing those workers to stay longer in the workforce. And as we age, many feel the chronic pain of arthritis, back pain, foot and knee issues and carpal tunnel. I can’t imagine any of these people having any feelings except despair and/or anger over a decision to make them stay in the workforce for two more years. The greatest OAS and GIC (Guaranteed Income Supplement) benefits are paid to lower income seniors. Again, these people will be forced to keep their low income jobs for even longer before they can collect.
Another huge frustration for me in this matter is the fact that the government is apparently planning on pitching this issue to younger generations, using scare-tactics like young taxpayers are on the hook for supporting a huge generation of elders! I hope those young people also understand that by keeping our generation in the workforce, they are locked out of it!
My question to government – this one and previous ones – is “Where is the surprise of the Baby Boomers reaching retirement age together?” Our “bubble” has been getting older for the last 25 years. Greater life expectancy might be a bonus but that too has been a steadily rising statistics for a bunch of years too. Why have they been so busy spending our tax dollars on boondoggles – we can all name a few! – when they should have been investing some money so they could retire us all off as expected.
Good thing I don’t have high blood pressure!
Photo Credit: http://richardofdanbury.files.wordpress.com/2011/12/governhelp.jpg
I totally agree with you Agnes. I know I certainly don’t want to wait until I’m 67, hell I don’t want to wait until I’m 65! I really hoping to be able to retire when I’m 62-63. But that could be a pipe dream, at least I’m in a job that I still really enjoy. I love this blog, keep up the great work!
Hey, Brenda, thanks for dropping by! The very best part of having your own on-line real estate is that you can put air to your opinions! Feel free to chime in anytime, whether you agree or not!
Agnes I really don’t believe in retirement. I feel that retirement is not an entitlement and the government should not be paying for everyone. We should do some kind of work until we die. We need to have a reason to live.
Well, respectfully, Debbie, I need to disagree with parts of that. I have lots of reasons to live, believe me. I have also spent my entire working life having mandatory deductions taken from every paycheque to be invested for me by the government. I have had no choice in this matter. Now to find that the government has not only mismanaged my money, they are taking a portion of it to top up the pensions of MPs, who are making decent-to-exorbitant salaries while paying a much smaller portion toward their pensions than I am paying toward mine. To disguise this mismanagement, they are changing the qualifications around when I can claim my money back.
As to whether the government should pay for everyone… probably not… but we have decided to have a social safety net in this country. For those seniors who have built this country, fought for this country, and paid income taxes practically since their inception, they should not be living in poverty – and there is a whole myriad of reasons why they live in poverty totally unrelated to how they managed their money during their working years. The wealthy continue to be taxed inappropriately while lower income people are penalized for taking the jobs that many others do not want. The government cannot claim to have a social safety net for their electorate but then make it so very difficult for the most needy to participate.
Do not even get me started on the lies they are telling our younger generations to cloud their mismanagement of baby boomer pension contributions!
Sorry to rant but these sorts of issues are exactly the reason my blog exists. If I can help even just a few single mid-age women learn to live without depending on the government for assistance, I will be happy blogger / solopreneur!!
I agree we should not depend on the government for retirement. Some of us got stuck in some of the down ward spirals and will be working way past 65.
The government should not have a say in how we invest our retirement money or any money for that matter. I am having a frustrating year and didn’t mean to start a fight or any thing.
I never join fights, Debbie, even if I thought you might start one, so no problem there!! I have done a fair bit of digging to get some of the information I write about and I like to put an angle on my opinions that people might not be aware of. Too many governments are not held accountable and my generation will not be changing that… but we should speak out about it – loudly!!!
I am sorry for your frustrating year, Debbie, you are one of far too many people. When one feels stuck, or helpless, everything in their life can suffer.
Do me a favour and write out some very small goals. Each day look at those goals and, if possible, do some small thing to move toward that goal. In the meantime, keep posting all the fabulous scents and plants and products you have in your life. It will be up-lifting for both you and your readers! Best wishes.
and hopefully you can monetize that beautiful web-site of yours, Debbie, and create retirement income and savings!