Canada budget raises pensions benefit age and cuts penny (BBC)

[eppur_se_muova]

The eligibility age for Canada's Old Age Security (OAS) benefits will rise to 67 from 65 starting in 2023, as part of the government's new budget.

The budget outlines C$5.2bn (£3.3bn) in cuts, with reductions across defence, health care and agriculture.

It also stops the minting of the Canadian penny, for a savings of C$11m. Pennies can still be used in purchases.

The change to the OAS will not affect Canadians who are currently above the age of 54.

Canadian Finance Minister Jim Flaherty announced the budget on Thursday, calling the OAS change an example of the government looking ahead over the next generation.
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more: http://www.bbc.co.uk/news/world-us-canada-17556878

[roamer65]

1. Penny loving Canadians will probably use American ones.

Canada needs to go one step further and demonetize them. IN NZ and Australia they simply are not money anymore. Everything is rounded up.