FRHD 3060 Lecture Notes - Lecture 12: Old Age Security, Canada Pension Plan, Indian Register
3 Dec 2016
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19% are saving but 61% of canadians have saved nothing yet. Income influences all other aspects of life: secure housing, transportation, access to social and health care, plus recreation and the ability to spend your (cid:498)golden years(cid:499) doing the. )n (cid:883)9(cid:884)7 canada"s first old age pensions act was passed: the maximum pension was per month or per year things you want, it was available to british subjects aged 70 or over who had lived in. Canada for 20 years: it was restricted to seniors whose income, including the pension benefits, was less than per year, status indians were excluded. Although eligibility was limited, the act was a modest beginning of nationwide benefits for the poorest elderly. In 1951 oas became universal and was for those aged 70 and older. The act has been amended many times. The most important changes have been: the drop in age of eligibility from 70 to 65 (phased in between 1965-
