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Finance committee I did hear it, but I may turn to my colleague Mr. Wagdin. We have done some research. Kevin, do you want to give it a go?
June 3rd, 2021Committee meeting
Kristen Underwood
Finance committee I'm sorry. I am having some trouble with my computer. It's jumbling as people are speaking. I think I heard the question clearly, but if for some reason I crackle out, maybe my colleague Kevin Wagdin could take over for me. Thank you for the question. I believe you were asking f
June 3rd, 2021Committee meeting
Kristen Underwood
Finance committee We did share some data earlier for the committee's special study. We could share that again for the record, but I think the information I have given you is the same as what I gave before.
June 3rd, 2021Committee meeting
Kristen Underwood
Finance committee Yes, I was going to say for clarification, Mr. Chair, that we're talking about an increase to the old age security pension. The OAS is funded through the consolidated revenue fund and not by contributions from employees and employers.
June 3rd, 2021Committee meeting
Kristen Underwood
Finance committee The measure is meant to target older seniors. It's a universal benefit for those 75 and older. We did some data analysis, and it does show that there are higher levels of vulnerability for those who are 75 and older. We've talked about some of those statistics here before. I cou
June 3rd, 2021Committee meeting
Kristen Underwood
Finance committee It is the decision of the government.
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee As we mentioned before, the decision to make the payment for older seniors, for those 75 years of age and older, was because of the greater vulnerability of this population due to the fact that they're outliving their savings, have a higher risk of becoming widows and widowers, a
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee I'm just going to check and see if Kevin Wagdin has been able to join as well.
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee Mr. Chair, I might ask that Kevin Wagdin, who is in the waiting room, help me if there are some more technical questions. Perhaps he can be invited in while I start.
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee Clause 269 is designed to ensure that the $500 one-time payment that is being proposed for the OAS pensioners aged 75 and older would not be included as income for GIS purposes. The one-time payment would be considered taxable income under the Income Tax Act. That would normally
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee It was the decision of the government to make the payment this August. It was put in place as a transitional measure before the permanent increase happens next July.
June 1st, 2021Committee meeting
Kristen Underwood
Finance committee I think the change is focused on those 75 years and older because of the risk as people get older. I talked about the lower income they often face, the higher health-related expenses and the onset of illness and disability. These risks are there, and people are at greater risk as
May 17th, 2021Committee meeting
Kristen Underwood
Finance committee Kevin, do you want to take that?
May 17th, 2021Committee meeting
Kristen Underwood
Finance committee Mr. Chair, I don't think it's normal practice to share legal analysis from internal....
May 17th, 2021Committee meeting
Kristen Underwood
Finance committee Thank you, Mr. Chair. Yes we did do some analysis looking at levels of employment of seniors who are over 75 compared to those under 75. A number of other—
May 17th, 2021Committee meeting
Kristen Underwood