After a lifetime of hard work, Canadians deserve a secure and dignified retirement. That’s why we have taken meaningful action to support seniors and increase their opportunities to maintain a good standard of living.
When we were elected in 2015, we kept our promise to restore the age of eligibility for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) to 65, after the previous government’s decision to raise it to 67. This is putting thousands of dollars back in the pockets of Canadians as they become seniors.
We’ve made increases to both OAS and GIS, so that a senior in Canada can now receive up to $1,700 more per year compared to before we were in government.
Under the Liberal government, Canada finally reached an agreement to meaningfully improve the Canada Pension Plan, for the first time in over 20 years. The enhanced CPP will put up to 50% more into the pockets of retirees.
We will continue to make investments to provide more support for seniors and help close gaps in our system, to ensure that every senior in Canada is cared for.