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The future of retirement and Old Age Security

The federal government wants to reform the country's public pension system.

Prime Minister Stephen Harper first made mention of this on Friday. Speaking from Switzerland, Harper announced the system isn't sustainable.

He says the number of people over age 65 will increase from 6.7 million to 9.3 million over the next 18 years.

That means Old Age security payouts will increase from $36,000,000 to $108,000,000 by 2030.

One of the options on the table is raising the age to qualify for OAS from 65 to 67.

To understand more, Daybreak host Chris Walker reached Dan Albas, the conservative MP for Okanagan-Coquihalla.
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But economist Kevin Milligan says the math doesn't add up. Milligan teaches at UBC and specializes in pensions.
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