Mr. Michel Montambeault (Director, Office of the Superintendent of Financial Institutions Canada, Canada Pension Plan, Old Age Security, Department of Human Resources and Social Development Canada) at the Human Resources, Skills and Social Development and the Status of Persons with Disabilities Committee

We have estimated the total cost of changing the rule from ten to three years to be $700 million. It would probably imply having around 93,000 more people put under the benefits of OAS, about 85,000 more on the GIS, and about 2,000 more on the allowance. For the OAS it would be $84 million, for the GIS around $600 million, and for the allowance around $14 million.