The results found that 73 per cent of Canadians agree that the government should cut OAS subsidies for seniors with six-figure incomes. Thirty-one per cent strongly agree, and 42 per cent somewhat agree that Ottawa should lower the household income eligibility threshold for the pension from $185,000 to $100,000.<\/p>\n
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Generation Squeeze<\/p>\n
Under current rules, retired couples with annual incomes of $185,000 can still receive the full $18,000 pension. According to the latest Statistics Canada data<\/a>, about 400,000 seniors live in poverty.<\/p>\n pikselstock\/Shutterstock<\/p>\n \u201cOur new national poll confirms that most Canadians know this no longer makes sense,\u201d the report argues.<\/p>\n The organization says targeting the OAS to households below that threshold would save the government $7 billion annually.<\/p>\n \u201cThe $7 billion annual savings can be used to eliminate seniors\u2019 poverty and reduce living costs for younger Canadians,\u201d reads the report.<\/p>\n Generation Squeeze says that support for this reform spans across regions, incomes and political parties. It found that roughly eight in 10 Liberal, Conservative and NDP voters are in favour of changing the OAS to make it more \u201cresponsible, modern, and fair.\u201d<\/p>\n Generation Squeeze<\/p>\n According to the report, cutting the OAS threshold for high-income Canadians would ask just 20 per cent of retirees to accept modestly smaller subsidies \u2014 $3,000 after tax on average. For 80 per cent of pension recipients, benefits would be protected or improved, including for those who live alone, the report suggests.<\/p>\n \u201cCanadians understand that households with incomes of $185,000 don\u2019t need more money from taxpayers to cope with rising living costs,\u201d argues Generation Squeeze. \u201cWe can tackle affordability pressures by better targeting cash subsidies where they will help the most.\u201d<\/p>\n The poll also found that six in ten Canadians agree that the government pension should be the same or lower than the threshold for the Canada Child Benefit, which is currently set at $81,000.<\/p>\n Generation Squeeze<\/p>\n \u201cThis bold move would increase annual savings from $7 billion to nearly $13 billion,\u201d it reads.<\/p>\n Generation Squeeze shared ways the billions of dollars in savings could be allocated.<\/p>\n It suggests that $2.5 billion annually would deliver a $5,000 boost to every senior below the official poverty line, possibly eliminating seniors\u2019 poverty in Canada.<\/p>\n Other possible investments include:<\/p>\n Strengthening the National Housing Strategy to avoid planned cuts after 2027 The organization is urging Canadians to sign a petition<\/a> calling on the federal government to reform the OAS.<\/p>\n For more details, check out the full report<\/a>.<\/p>\n![\"OAS\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/03\/shutterstock_2659490467-scaled.jpg\"\/ "\\"\\"")
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\nBoosting Canada Student Grants instead of letting them decline
\nAccelerating implementation of $10-a-day child care
\nIntroducing a Youth Employment Supplement to help young workers get established in a difficult job market
\nFunding the new Grocery and Essentials Benefit<\/p>\n