Opinion: The Old Age Security clawback is due for reform
The debate over Old Age Security (OAS) has become increasingly polarized.
On one side are those who argue that OAS is becoming unaffordable and that higher-income seniors should receive less. They focus on the “clawback” which taxes OAS back to zero only for incomes over $150,000. On the other side are those who view any criticism of OAS as an attack on retirement security itself.
Both sides are missing a more important earlier question. Before we debate where the clawback threshold should be set, we need to ask a more fundamental question: What is OAS actually for?
