Key Support Since 2015 for Seniors

  • Reversed the Conservative policy and restored the age of eligibility for OAS and GIS to 65 from 67, preventing 100,000 seniors aged 65 and 66 from plunging into severe poverty each year.
  • Provided a one-time payment of $500 during the week of August 16, 2021 to Old Age Security pensioners who will be 75 years of age or over as of June 30, 2022.
  • Increased the Old Age Security pension by 10% for all seniors aged 75+, providing $766 over the first year to pensioners receiving the full benefit.
  • Increased the Guaranteed Income Supplement (GIS) by 10% for individual seniors, improving the financial security of about 900,000 vulnerable seniors.
  • Created the Age Well at Home Initiative that will help low-income and otherwise vulnerable seniors live in their homes for as long as possible.
  • Created opportunities for seniors to be more connected, supported, and active members of their communities by investing an additional $20 million a year in the New Horizons for Seniors Program.
  • Worked together with provinces and territories to increase the Canada and Quebec Pension Plan’s maximum yearly benefit for future retirees by about 50%, meaningfully reducing the risk of not saving enough for retirement.
  • Decreased the poverty rate among seniors by 20%.