FRHD 3060 Lecture Notes - Lecture 4: Indian Register, Pension, Canada Pension Plan
15 Dec 2015
School
Department
Course
Professor
Document Summary
November 26, 2015 contemporary and social issues: pensions and financial security building on what we know. Income influences all other aspects of life: secure housing, access to social and health care, transportation, plus recreation and the ability to spend your golden years" doing the things you want! Not just feeling like you can access the things you need but actually enjoy things in your life some additional information. In 1927, canada"s first old age pensions act was passed: 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 most important changes have been: the drop in age of eligibility from 70 to 65 (phased-in between 1965- 1969) the 3-tier retirement income system in canada. Old age security was introduced in 1927 but became universal in 1951.
