Ottawa (CP) — The federal government is refining its pitch to cut public pension benefits, now aiming its message at younger Canadians.
In a speech in Toronto today, Human Resources Minister Diane Finley confirms that the coming federal budget will lay out major changes to old-age security, the program that gives about $500 a month to almost everyone over 65.
She says the government has to act now in order to protect the benefit for the younger generation.
She says the old age security program has not been changed in 50 years, despite radical changes in demographics.
Finley is also giving a personal guarantee that none of the cuts will affect today’s retirees, and that everyone else will have ample time to get ready.