We recognize the importance of supporting seniors and Canadians as they plan their retirement.
When we were elected in 2015, we kept our promise to restore the age of eligibility for the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) from 67 to 65.
We also increased the GIS top-up so that single seniors can receive up to $947 more per year.
In Budget 2018, our government is continuing to help Canadians realize their goal of a secure and dignified retirement, and improve the quality of life for seniors.
Working with our provincial and territorial partners to strengthen the Canada Pension Plan (CPP) in 2019:
- Increase retirement benefits under the CPP Enhancement for parents who take time off to care for their young children or a family member with severe disabilities;
- Raise survivor’s pensions for individuals under the age of 45 who lose their spouse;
- Introduce a top-up benefit for disability retirement pension recipients under the age of 65;
- Increase the death benefit to a maximum value of $2,500 for all eligible contributors.
- Creating an Advisory Council on the Implementation of National Pharmacare, that will study the issue and recommend options on how to move forward with lowering prescription drug prices so that Canadians do not have to make the impossible choice between food and medicine.
- Supporting Canadians as they become seniors by providing $75 million to the Healthy Seniors Pilot Project.
This project will help us better understand the impacts of ageing on men and women and improve the quality of life for our senior citizens.
- Providing support for the 400,000 people living with dementia and their caregivers.
Our government is providing $20 million in funding over five years, with $4 million per year ongoing, to community-based programs that will improve the quality of life for people living with dementia.