Canada needs to revamp retirement age: report

Just another thought before all the bleeding heart liberal minded replies start. If a baseline of $1,000tax free per month were used (for those who have contributed nothing) and was increased by say...$75 per month for every year worked and contributed to (40 years...retire at 56-60 with $4,000 per month tax free), apply the same calculation to immigrants (arrive at 65 and receive nothing) and cutoff all but the minimum right to anyone with an after retirement income exceeding $100,000 and include ALL Canadians in this program...

I agree with all of you who are saying it is not fair to change the rules mid-way through. I am 40 and really hoping to retire at 63 approx - i cannot imagine working beyond 65 at all. It is not that i want to sit home and do nothing, but actually that i would like the freedom to do some volunteering, travel and help out my children who by then will be having families etc. I will also have elderly parents to assist and won't be able to do all of that and work. I might work part-time to stay busy, but shouldn't this be up to us. I have beeing paying CPP and UE for many years now and am happy to do this. I am also in the second highest tax bracket so I do pay a lot of taxes and fine with that. If they change the retirement age that won't change my retirement date (hopefully). I will just have to save even more to take care of myself and my husband. I agree with those that said that we need to have a reward for working all those years. I love the idea of being 60 something and getting to get up in the morning and please myself!

The problem is with all who have not paid to the system.I have worked and paid double to the system for 45 yrs. Will only receive what one who paid none. Talk about fair, BULL SHIT. I have a better system worked out where it includes All to be retired at age 35 not just our politicians.

i all ready pay more to cpp than i do to my own pension. why should i be paying for everyone? enough is enough

Our political leaders want to look like shining golden boys or girls and raise the standard of living in the rest of the world,mostly third world countries. The only problem is they want to do it on the backs of Canadian workers.They care not one iota about Canadian workers or their families and whether or not they live to old age,they just want them to keep working so they can collect their taxes and squander it out of Canada.

No the government should have less controll over pensions etc. The world would be a better place. Leave the seniors alone. If they were lucky enough to get to age 65 they deserve and have earned their pensions however big or less they are. Stay out of it. In other words. M Y O B
Mind your own business.

Leave the seniors alone and stop targeting them . If they get to 65 years of age they deserve and want their pensions. Some are already burnt out and can hardly wait to get to the age of retirement. 65.

Here's another one, cause this pole or suggestion has really pissed me. off. My father died at 63 years of age and never got to the age to receive C.P.P. or his old age pension. He was not able to work for 7 years before he died. We lived in the country and it was necessary for him to take the Voyageur bus into Ottawa. He worked for the Unemployment Insurance Office. The man had no legs. He strapped on one heavy and I mean HEAVY leg with a garter around his waist to hold the leg on. To sit he had to pull a pin to release the knee. His last operation took off the knee of the other leg and the stump never healed so he was unable to get to the bus to go to work. You have really pushed my buttoms. They should be raising the age of eligibility for retirement to 60 years. of age. Oh please. The government. In the early 60's the welfare gave you in cases like his 75$ SEVENTY FIVE dollars at month . To raise a family of 4 children. Oh Please. I'll stay it again. The government if they don't know how to manage the people's money hand the job over to someone who does.

CPP is deducted from our salary by law and by law we are to receive CPP at age 65. This is the agreement. Yes, Canadians must save for their own retirement because it's one thing we can count on when we retire but it is our right to receive it at age 65. So, yes, there is a problem, let's be logical and start looking in the right places. Maybe we can look at bill C-428, proposed by Ruby Dhalla, Liberal MP for Brampton - to reduce from 10 years to three the time an elderly immigrant would have to wait to claim Old Age Security or Guaranteed Income Supplement.

me not gonna work even to 65, this Canada government is as corrupt as the gangs in Jamaica, me cant wait to lick this country goodbye.

Well I see the academics are doing their homework.It,s funny that now the babyboomers have come of age that this working till you drop is now surfacing into political thought.I for one would like to see this prof Martin Hering maybe take a cut in his pension..along with the alumni at MacMaster and other universities..and maybe throw in the Federal, Provincial& Municipal abministrators,politicians along with highly overpaid bureacrats with golden handshakes and huge pensions and maybe divide that money to spead the pension system more evenly.

I worked for the provincial government. They had an early retirement program, so I retired at 62. I worked for them for 43 years (worked every year, some was part time when I had kids). They were downsizing.My pension is not that good, as I had broken service because of having my children, so I am really looking forward to getting OAS at 65. I'm trying to live on $1600/ month right now, and its very difficult. Everything keeps going up, utilities,groceries, gasoline, where is it going to end? I agree that we need to retire by 65 to make jobs for the younger people. The government needs to stop spending more than they take in, be more responsible

I think the goverment should cut there pensions back.They are working for use but they are filling there own pockets with yours and my money.

Making the retirement age higher simply takes from Peter to pay Paul. All those extra older people working simply means more younger people will be on unemployment and I guarantee you it costs the government more to pay someone to be on unemployment than it costs them to be retired. This is a stupid idea at best. If they do it it should not be implemented on anyone who has already paid income tax. I have paid for 30+ years and if anyone thinks they can change the rules in the middle of the game on me they'll have another thing coming.

Hello !We should be able to retire at 55.Not at 65,at that age we are starting to have health issues,no time for fun ,travels,etc.Cut all public servants pension,especially the ministers,deputies etc.Not the guy working in the mines or factories,shops,dep stores.Cut ALL expenses in rhe GOV.They are the most wasteful.Federal Pensions should be the same for everyone.None of this non-sens after 6-8 years while the rest of us must wait to be 65.

live on savings!! don't make me laugh. those of us who nursed aging parents, raised needy children and, if we were lucky, got minimum wage jobs (who will hire an aging semi disabled person whose skills are so out of date as to be listed on the manifest of noah's ark?)live from checkk to check.

the problem is if the banks started to pay some interest on peoples money that would help offset relying
totally on pensions..People in the Long Term Care Centres barely have enough to pay monthly. These are people that have saved for their retirement but when making 1percent on their money they are making nothing. They cannot put into investments now because their money is being used to live.
With the markets anymore where is anyone making, you gain some and then turn around and loose.
For the next generation coming on that never can save anything, Im afraid the penisons will run out they certainly will never retire, we will have to keep them.
We never had this problem 20--25 years ago, people did surive and were able to retire. Too much debt now with the banks and will only get worse. Look at these 25-30 year mortgages when will they ever get paid off, biggest mistake the banks have made. People will be retiring and still pay off a mortgage, the banks are alot to blame, no oversight anymore.

There should be a means test there are people that do not need this pension and others that are just scraping by.

The retirement age should be lowered to 62-63, this way older people that are continuing to work, would have the incentive to retire. Most wait until 65 to obtain all pensions available. In turn, more positons would open up for younger workers, seems like a win/win situation.

The only retirement age that needs adjusting (down) is Senators. The only pensions that need downward adjustments are MP's and Senators...Their corcodile tears over the state of pensions (money) in Canada is hypocritical to say the least - as the continue to snuffle up to the trough.