Don’t worry — pension cheques won’t bounce

Re: Time to raise the retirement age — Aug. 11

I don’t understand the point of this article.

There is no mandatory retirement age in Canada. The retirement age of 65 is a guideline, nothing more.

You can therefore work for as long as you can be productive. You also don’t need to start drawing your OAS upon the age of 65. I would also think that most companies would like to keep older workers on board as long as they are productive. Corporate pension plans use contributions from the company and employee.

Therefore as long as the employee is working, they are contributing to the funds for their retirement. Hence, this is not a strain on the corporate ability to pay pensions.

The article alludes to the fact that OAS payments are a problem for the federal government. Federal government cheques will never bounce, and there will always be funds available. That is the benefit of having a fiat currency.

The federal government will not be in debt, nor will they be strained to make OAS payments now or in the future.

Rick Kennell

Kitchener