Canada's retirement age to return to 65: Trudeau

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Image: Bloomberg / YouTube screenshot

Prime Minister Justin Trudeau says he will fulfill an election campaign promise to restore Canada’s retirement age to 65.

During an interview with Bloomberg TV in New York City, Trudeau said the federal budget to be released next week will cancel Stephen Harper’s Conservative government’s plan to increase the age to 67 beginning in 2013.

The reversal announcement was highly symbolic as Harper revealed his old age change plans during a 2012 Bloomberg interview in Davos.

“The reviews are mixed in Canada on how wise this was of announcing that he was going to raise the age at which you reach Old Age Security to 67 from 65 and we think that was a mistake,” said Trudeau.

“How we care for our most vulnerable in society is really important. The sense is just tweaking the age like that is a very simplistic solution that won’t work to a very complex problem.”

He noted that such factors to consider include creating opportunities for people to stay healthy longer and encouraging a link and mentorship between older and younger people so that a plan can be created to support aging demographics. As well, he noted that there are plans to increase the Canada Pension Plan.

Trudeau is in New York City this week to visit the United Nations and discuss women’s rights.

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