Mr. Speaker, as the Prime Minister said when he made his commitment, the major reform of old age pensions announced yesterday by the Minister of Finance in his budget will not affect those who currently receive old age security benefits.
The new plan called seniors benefit will come in effect only in the year 2001. It will replace the current old age security benefits and the guaranteed income supplement. The seniors benefit will be paid based on the combined income of a couple.
It is expected that the new plan will prove beneficial for nine women out of ten, in that they will get more money than they would have under the current plan.
Once again, our government has shown that it is possible to revamp Canada's social programs while also protecting those who benefit from them.