Higher, lower or Nothing!:
Indexation to inflation turns out to be a myth for all With higher inflation, increases in indexed benefits have been more noticeable lately. For example, Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) -which are indexed quarterly - have been increasing far faster than the cost of living as measured by the Consumer Price Index (CPI) over the past ten years. But other benefits have been lagging behind such as Ontario Works (OW) and the Ontario Disability Support Program (ODSP) payments. Still others appear to be increasing faster than the rate of inflation. We decided to delve a bit further into the numbers. That’s easy to do because the Bank of Canada provides a service to the public in the form of its Consumer Price Index (CPI) calculator…