The Resource Reforming old age security : effects and alternatives
Reforming old age security : effects and alternatives
Resource Information
The item Reforming old age security : effects and alternatives represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item Reforming old age security : effects and alternatives represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- The federal government announced in its 2012 budget its intention to increase the age of eligibility for old age security and the guaranteed income supplement from 65 to 67 years. The increase will be introduced gradually, beginning in 2023. When the policy is fully implemented in 2030, it will increase the net revenues of the federal government by $7.1 billion per year, but reduce net provincial revenues by $638 million (in constant 2014 dollars). Assuming no change in labour and savings behaviour, delaying the date of eligibility will also increase the percentage of individuals aged 65 and 66 years who are in the low-income group, from 6 percent to 17 percent (for an additional 100,000 low-income seniors in this age group), and will be most harmful to low-income seniors and to women. Alternative reforms to old age security could make it possible to achieve net gains for public finances without having such large negative impacts on the low-income rate among seniors
- Language
- eng
- Label
- Reforming old age security : effects and alternatives
- Title
- Reforming old age security : effects and alternatives
- Language
- eng
- Summary
- The federal government announced in its 2012 budget its intention to increase the age of eligibility for old age security and the guaranteed income supplement from 65 to 67 years. The increase will be introduced gradually, beginning in 2023. When the policy is fully implemented in 2030, it will increase the net revenues of the federal government by $7.1 billion per year, but reduce net provincial revenues by $638 million (in constant 2014 dollars). Assuming no change in labour and savings behaviour, delaying the date of eligibility will also increase the percentage of individuals aged 65 and 66 years who are in the low-income group, from 6 percent to 17 percent (for an additional 100,000 low-income seniors in this age group), and will be most harmful to low-income seniors and to women. Alternative reforms to old age security could make it possible to achieve net gains for public finances without having such large negative impacts on the low-income rate among seniors
- Citation source
- In: Canadian tax journal = Revue fiscale canadienne. - Toronto. - Vol. 63 (2015),
- http://library.link/vocab/creatorName
- Clavet, N-J.
- Geographic coverage
- North America
- Language note
- English
- http://library.link/vocab/subjectName
-
- tax reform
- old age provision
- pension
- public finance
- federal income tax
- provincial tax
- Label
- Reforming old age security : effects and alternatives
- Label
- Reforming old age security : effects and alternatives
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Reforming-old-age-security--effects-and/Cv6w40Y5yYQ/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Reforming-old-age-security--effects-and/Cv6w40Y5yYQ/">Reforming old age security : effects and alternatives</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/Reforming-old-age-security--effects-and/Cv6w40Y5yYQ/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/Reforming-old-age-security--effects-and/Cv6w40Y5yYQ/">Reforming old age security : effects and alternatives</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
