SIN cards to be phased out over identity theft fears

The federal government is phasing out the SIN card over the next two years because of identity theft fears and costs.

Instead, starting in March 2014, Canadians will receive their number in a letter.

Eliminating the plastic social insurance number cards will save the Canadian government about $1.5 million annually.

And it’s hoped that if fewer people have cards to carry in their wallets, there will be fewer incidences of identity theft.  The red and white cards lack the high-tech security features found on driver’s licenses and other forms of ID, but can still be used to apply for credit cards and banking accounts, making them ideal for identity thieves.

The Senate discussed eliminating the SIN card on Tuesday as part of the Conservatives’ budget bill.

As part of Finance Minister Jim Flaherty’s plan to trim $5.2 billion in annual federal spending, the government has already scrapped the penny and raised the age of eligibility for old age security to 67 from 65. That measure starts a decade from now.

With files from The Canadian Press

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