As expected, the government will raise the eligibility age for old age security from 65 to 67 but won't begin phasing in the change until 2023.
Fundy Royal M-P Rob Moore tells CHSJ News the change recognises the reality there will be more and more retirees down the road. Moore says right now four workers are contributing for every retiree and in 20 years that will be down to 2 people working for every person who's retired and the average life sapan of men has risen to over 80.
Flaherty also announcing the mint will stop producing pennies this fall since it costs 1.6 cents to make one.
