The OAS reforms we propose would only impact financially secure senior couples with annual incomes between $100,000 and $300,000. There would be no change in OAS subsidies for retired couples with lower incomes, and some single seniors would receive higher OAS subsidies.

Right now, taxpayers send $14 billion every year to retirees with annual incomes above $100,000, while other seniors, families, and working adults live in poverty. That’s not a responsible use of public funds, and it’s inconsistent with Canadian values about helping those in need.

The original goal of OAS was to ensure that no senior lived her final years in deprivation – a laudable commitment to which we should live up. Yet today, the affluence of some retirees who collect OAS is on display every week in financial advice columns. OAS clearly has drifted too far from its aim. The reforms we propose are urgently needed to restore the integrity of this cornerstone of income security in Canada.