From Global News.

The founder of "Generation Squeeze" Dr. Paul Kershaw called on the federal government Monday to modernize Old Age Security (OAS) by reducing benefits for retirees with household incomes exceeding $100,000. The move aims to alleviate the financial challenges facing Canada without raising taxes.

According to Kershaw, approximately $14 billion of the $83 billion Canada spends on OAS is received by retirees and households with six-figure incomes, which can amount up to an $18,000 annual subsidy. According to Kershaw, polling shows that 75 per cent of Canadians, including three-quarters of retirees, support asking retired households that have six-figure incomes to receive smaller old age security subsidies. To reinforce that support, Kershaw presented a testimonial compilation of retirees advocating for this change.

“We’re not pitting generations against one another here. We have retirees saying they want to do their patriotic duty to secure the financial foundation of the country,” Kershaw said, “What I’ve showed you today is that we don’t need to think about touching old age security being the third rail any longer.”

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