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CORRECTION: The 2023 increase for both OAS and CPP payments is actually 6.3% and not 2.6% as indicated in the following letter.
Dear Editor,
I am dismayed at the paltry increase in our pension payments, effective January 2023.
The increase was only 2.6% despite inflation consistently running over 7%. My contributions to CPP began in early 1969 and finished during 2012-----43 years. And I contributed the maximum employer and employee amounts for most of those years.
I had many opportunities over the years to relocate to the United States, but declined to do so, preferring what I believed to be a better quality of life in Canada. Maybe I made the wrong decision as Social Security (their pension plan) payments south of the border increased by 8.7% on January 1 despite them having an almost identical inflation rate.
It's time that senior citizens were treated better in Canada.
Gerald Duffy
Midland
