The Future of Canadian Seniors and those to come!
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I am very concerned about the welfare of all our Senior Citizens. In the last decade, the adequacy of the Old Age Security Pension has come under serious question. In 2003, 258,000 seniors were living under the after - tax Low Income Cutoff and 19\% of them were just above the before - tax LICO, (Low Income Cutoff) and therefore unable to access the benefits of income tested programs. They had no choice but to live within a very small budget and continue to do so to the present day, despite the increase of cost of all items of necessity.
The basic problem with Canada's Pension System is that even the maximum amount allowable is not enough to ensure a life of dignity for our seniors. This concerns me greatly and should concern all members of Government. Has any member given serious thought to the fact that these seniors are the backbone of this great country of Canada, many in the workforce for half their lives, and that because of their efforts we have the standard of living enjoyed today which is envied by most of our world? Has it not occurred to anyone that they have more than earned the right to that life of dignity? That not everyone was able to afford to set aside monies for retirement due to living from paycheck to paycheck in order to support their families, provide a roof over their heads and put food on the table?
Government Pension Programmes were originally designed to ensure Canada's seniors would have enough income to meet their daily needs and prevent them from becoming destitute. In this regard, I urge the Federal Government to increase the Old Age Security Pensions by 6\% per year for the next five years, over and above the cost of living increase with no penalty to the Guaranteed Income Supplement.
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