Madam Speaker, let us be very clear. There will be no reduction in current seniors' pensions.
As I have mentioned several times in this House, in order to ensure there is old age security for future generations of Canadian retirees, these changes need to be made now. The shift in demographics of the number of individuals that will be retired and eligible for OAS will jump substantially from 4.7 million to over 9.3 million over the next 20 years. We need to take action to ensure that this cherished social program is available to future generations of Canadians.