Mr. Speaker, the reform proposed in the federal budget relating to the old age pension has upset the plans of those who have been saving for years for their retirement.
As well, some of the provincial governments are not being too kind to their seniors. The ones feeling the effects are not the rich but the middle class, who are finding the substantial sum of $1,000 to $5,000 lopped off their incomes, a considerable blow to their standard of living. The ones who will pay for this reform are not the privileged members of society, but the people who have planned ahead for their retirement.
Can the government make adjustments so as to encourage people to save, rather than discouraging them? Couples who have made preparations for retirement, who have put money aside, particularly in RRSPs, instead of spending it, would lose their pension, while others with the same income would not.
I do, however, approve of the more well off not receiving the pension anymore, since they have to pay back what they have received when they file their income tax return.