Life expectancies have increased considerably since these programs were designed.
The ratio of seniors to the working age population is expected to almost double from 20.3 per cent in 2010 to 38.4 per cent by 2040.
The number of Old Age Security beneficiaries is projected to double between 2019 and 2060.
The government expects to borrow $331.9 billion over the next five years, bringing the national debt to at least $1.5 trillion.
By 2047, the costs of OAS and GIS will increase by an estimated 47 per cent.