Mark Warawa, MP - Langley - Mark Warawa will not support Liberal bill calling for a reduction in the Old Age Security Residency Requirement

March 23, 2010

Mark Warawa will not support Liberal bill calling for a reduction in the Old Age Security Residency Requirement

The Old Age Security program is one of the cornerstones of Canada's retirement income system, which includes benefits such as the Old Age Security (OAS) pension, the Guaranteed Income Supplement and the Allowance. In order to qualify for OAS, one must have been a resident of Canada for a minimum of 10 years, after reaching the age of 18. This allows individuals to contribute to the Canadian economy like millions of hard-working Canadians.

Bill C-428, introduced by a Liberal MP, seeks to reduce the residency requirement for eligibility to receive OAS, from ten years to three years. Three years is not adequate for a person to contribute to the OAS plan before receiving benefits.

The Old Age Security program is financed from Government of Canada general tax revenues. To implement Bill C-428, it would cost an additional $700 million annually, a cost to the Canadian economy that is exorbitant. The current 10-year residency requirement period strikes an appropriate balance between an individual's contribution to Canadian society and the economy, and his or her access to a lifelong, publicly-funded benefit. It is for these reasons that I will be voting against Bill C-428.

Yours sincerely,