How To Evaluate Seniors's Pension System

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This pension system contained a number of disadvantages at the beginning. First, the applicant should be aged 70 or older who lived in Canada for at least two decades and in their current province of residence for five years with a maximum $20 a month (reference …). Twenty dollar in 1927 is about $270 today. Also, in order to determine eligibility, the system used a “mean test”. This meant the provincial government would evaluate seniors’ eligibility based on the criteria such as income, property ownership, and the level of support from relatives (reference ). The fiscal sustainability of Canadian pension system, like unemployment insurance, health-care, and other aspects of social aspect, has became concerned after several time of “improvement”.

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