Life expectancies have increased considerably since these programs were designed.
The wait list for nursing homes in the province has almost doubled over the last 10 years.
The proportion of Albertans age 65 and over will reach 18.8 per cent by 2040.
Canadians aged 65 and older will account for a projected 23.4 per cent of the population in 2040.
The one-time payment to seniors will cost an estimated $2.5 billion.
Despite misleading claims, senior poverty in B.C has fallen significantly over the past four decades.
By 2047, the costs of OAS and GIS will increase by an estimated 47 per cent.