Prime Minister Stephen Harper pledged last month to look into the sustainability of Canada's retirement system, and that has many seniors or workers approaching retirements worried that their pensions could change.

But that's not so, according to Kootenay-Columbia MP David Wilks in a recent statement.

"I can guarantee you that any changes to Old Age Security will never affect anyone currently receiving benefits, nor will they ever affect any individual now nearing retirement," Wilks said.

The MP assures Canadians that those already receiving a pension cheque from the Old Age Security fund will continue to see the same amount month to month. Wilks said he has had many questions surrounding the controversy, from retirees, soon to be retirees, and even young people wondering if there will be anything left in the pot for them once they reach 65.

"Many Canadians close to retirement have also been asking whether Old Age Security will be there for them when they reach 65," he said. "The answer to both questions is yes.  The government is committed to protecting retirement income for today's seniors, and for future generations of retirees."

Wilks said his government has been committed to seniors by increasing the Guaranteed Income Supplement for vulnerable seniors by $600 per year, which he said is the largest increase in 25 years.

"This measure improved the financial security and well-being of 680,000 seniors across Canada," Wilks said,

Taxes have been reduced thanks to pension income splitting and increasing the age credit. The government has also introduced new programs like tax-free savings accounts and the PRPP, which better equips Canadians to save for their retirement.

"As a result of our actions, seniors can individually earn approximately $19,000 per year or $38,000 as a couple before paying federal taxes.," Wilks said.

Canadians can receive retirement income from a variety of sources, including the Canadian Pension Plan and Old Age Security. Funds for the Pension Plan is taken off as premiums from each Canadian's paycheque, and that money is held in a safe, secure and sustainable path, Wilks said.

The problem, which the government has announced will have to be looked at, is that the Old Age Security is funded from government revenue because it is currently not sustainable.

"In 1975 there were seven working taxpayers for every retired Canadian," Wilks said. "Because our population is getting older, today there are only four working-age Canadians for each senior."

Wilks predicts that by 2030 the number of retirees will skyrocket, and only two working Canadians will be available to each retiree.

"Amidst these changing demographics, the annual cost of the Old Age Security program is projected to increase from $36 billion in 2010 to $108 billion in 2030," he said. "In short, the cost of Old Age Security is going up quickly and the number of working Canadians to pay for it is going down significantly."

That means changes must be made to give workers just entering the workforce a chance at an Old Age Security payment once they retire.

"If changes are not made to the Old Age Security program, it will become unsustainable in the long-term," Wilks said. "Failure to make important decisions now will put the program in jeopardy for future generations."

Wilks promises that any changes will be well announced ahead of time, so that future retirees have the chance to change their plans and prepare for their future.

"Our government will take responsible action to ensure financial stability for future generations of seniors and give them confidence that Old Age Security will be sustainable and available to them in their retirement."