The federal government's plan to raise the age of eligibility for Old Age Security is supposed to save Billions. Will it? And who will it Cost? A Provincial Premier, a Statistical expert and an expert on risk sharpen their pencils and their arguments on today's program.

---

Part Two of The Current

Sarajevo Promo

Anna Maria and producer Lara O'Brien just back from Sarajevo, a city still recovering from the war that nearly destroyed it with a siege that began 20 years ago. Anna Maria reported extensively on that conflict, but she always got to leave.

The residents of the city didn't have the luxury of a ticket out. They had to pull their ruined lives out of the ruined city and carry on. Tomorrow a special edition of The Current will focus on the city that ethnic and religious hatred nearly killed. And we'll hear about the long, heart-wrenching upheaval caused to one woman's life by a violent and furious soldier. We aired a clip.

Raising eligibility for Old Age Security - Premier of Manitoba

Economists debate whether the the Old Age Security program is sustainable. But as you just heard, the Federal Finance minister has made up his mind. In last week's budget, Jim Flaherty announced that beginning in 2023, OAS -- the federal program meant to help Canadians in their retirement -- will be available only to people 67 years or older. At present, those aged 65 are eligible.

Ottawa says the change may eventually save nearly 11-Billion-dollars-a-year. Wayne MacNaughton believes it just going to prolong poverty for some Canadians. He's an anti-poverty activist in Halifax. We spoke with him last month, when the idea of changing the eligibility for Old Age Security was first floated. He's 58 now and won't be affected by the change. But he still has thoughts about what the delay of OAS benefits would mean for someone like him.

The Premier of Manitoba worries the coming changes to OAS eligibility could have a devastating impact on seniors and on his province's finances. Premier Greg Selinger was in Winnipeg.

Raising eligibility for Old Age Security - Former Pension Policy Advisor

Michael Wolfson is a former Assistant Chief Statistician with Statistics Canada. He spent many years developing and advising pension policy. He's now a Canada Research Chair in Population Health Modeling at the University of Ottawa. He's run some numbers to try to understand what impact the proposed changes will have. Michael Wolfson was in Ottawa.

Raising eligibility for Old Age Security - Changes in Workforce

It will be eleven years before the OAS changes take effect and even then they'll be phased in over six years under Jim Flaherty's plan. Some think this is an appropriate time to prepare for the changing nature of the Canadian workforce. Professor Norma Nielson is the Chair of Insurance and Risk Management at the Haskayne School of Business at the University of Calgary.

This segment was produced by The Current's Gord Westmacott and Liz Hoath.

Related Links:

• Budget changes old age security eligibility to age 67, hitting anyone under 54 By: Heather Scoffield - The Canadian Press
• Canada Pension Plan vs. Old Age Security: The differences explained - CBC News
• Manitoba gives federal budget failing grade - CBC News
• Penny-pinching federal budget draws criticism in Manitoba - CTV News
• An OAS cut will increase senior poverty levels By: Michael Wolfson - Troy Media
• The Late Retirement Solution By: Peter Hicks - Globe and Mail
  
  

Other segments from today's show:

• What's to blame for high gas prices?
• Katherine Boo: Behind the Beautiful Forevers