In Budget 2012, the Canadian federal government formally announced the changes it planned for the Old Age Security (OAS) pension. The major change will be raising the eligibility age for the OAS and related Guaranteed Income Supplement (GIS) from 65 to 67, beginning April 1, 2023. The change in the age of eligibility will be phased in gradually from 2023 to 2029. The changes will not affect you if you are currently receiving OAS benefits.
The report said the percentage of Americans living below the poverty line last year, 15.1 percent, was the highest level since 1993. (The poverty line in 2010 for a family of four was $22,314.).
DEFINITION: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations.