We will provide Canadians with a more secure retirement.
After a lifetime of hard work, Canadians have earned a secure and dignified retirement, but too many now wonder when – or even if – that will happen.
We will help Canadians realize their goal of a secure retirement.
That security starts with a strong and stable pension program. We will work with the provinces and territories, workers, employers, and retiree organizations to enhance the Canada Pension Plan.
We will not end pension income splitting for seniors.
We will also restore the eligibility age for Old Age Security and the Guaranteed Income Supplement to 65, putting an average of $13,000 into the pockets of the lowest income Canadians each year, as they become seniors.
We will help to lift hundreds of thousands of seniors out of poverty by increasing the Guaranteed Income Supplement for single low-income seniors by ten percent. This will give one million of our most vulnerable seniors – who are often women – almost $1,000 more each year.
Because many seniors live on fixed incomes, we will introduce a new Seniors Price Index to make sure that Old Age Security and the Guaranteed Income Supplement benefits keep up with seniors’ actual rising costs.
We will also make the Compassionate Care Benefit more flexible and easier to access, so that those who are caring for seriously ill family members – not just family members who are at risk of death – can access six months of benefits.