Government programs like Old Age Security are expected to be squeezed as baby boomers retire, and there's been speculation Ottawa may bump up the eligibility age from 65 to 67.
Ahead of meetings in Calgary on Wednesday, Flaherty said the government has not yet chosen a path to deal with the looming demographic crunch.
He says his 2012 budget will be flexible and pragmatic, and won't include any risky spending schemes that will increase deficits and taxes.
Despite the ongoing economic strife in the Eurozone, Flaherty says there are good signs of moderate growth for Canada's economy.
Flaherty also says his department is studying a Supreme Court ruling last month that a national securities regulator would encroach on provincial turf.
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