A by-the-numbers look at current, future spending on old age security
OTTAWA — The chief actuary’s latest report on the future costs for the federal government’s largest seniors benefit program, old age security, is painting a new picture of spending on the program between now and 2060. Here are a few numbers to keep in mind:
5.8 million: Number of old age security recipients this calendar year
9.3 million: Number of old age security recipients in 2030
$52.2 billion: Projected old age security spending this year