The current near universal payment of OAS (subject to income tax it should be noted) provides individuals with a predictable pension on top of CPP. CPP and OAS combined provide only a modest, predictable, inflation adjusted pension for life. If OAS were to be significantly rolled back for middle and higher income seniors, they would have to increase their reliance on costly and unpredictable RRSP savings. Individuals would also have to make savings decisions over their lifetimes in ignorance of what their incomes would be in retirement.
For example, consider the 1954 Indians, who won 111 games, best ever for a 154 game season. But the Yankees won 110, and the Tribe had to go full tilt. They had to win the last game to go the World Series (this was before playoffs). Players were hurt and worn out, and the Giants won in four. Actually, the Giants winning was somewhat of a fluke: one game should have ended when Bob Feller picked a guy off second, but the umpire spaced it out, and another game ended on Willy Mays’ most famous catch in baseball history, while the tying and winning runs were rounding third.