Keeping Canada Strong for Seniors
A new Liberal government will:
- Protect retirement savings, by reducing the minimum amount seniors must withdraw from their RRIF by 25% for one year.
- Increase the Guaranteed Income Supplement by 5% for one year, giving low-income seniors up to $652 more, tax-free.
- Provide tax relief, with a middle-class tax cut that reduces the marginal tax rate on the lowest income bracket by one percentage point which will benefit many seniors with modest incomes.
- Protect the Canadian Dental Care Plan providing affordable dental care to low-income Canadians without dental insurance. Canadians over 65 (and under 18) are eligible to apply now. Everyone else can apply next month (May 2025). Find a local dentist at www.hellodent.com
- Expand national pharmacare to cover diabetes medications. More than a quarter of Canadians aged 65 and older have diabetes.
- Improve access to government services, by introducing a dedicated 1-800 help line for seniors.
- Increase support to seniors who want to stay at home, by doubling the home accessibility tax credit so that seniors can claim up to $1,500 for renovations they need to stay in their houses.
- Explore a new Aging at Home Benefit, supporting seniors who wish to live independently.
- Work with all provinces and territories to increase the Canda Pension Plan Survivor’s Benefit by 25%, so that widows and widowers receive close to $2,200 every year.
Already, Mark Carney has…
- Ensured seniors keep more of the proceeds when they sell assets to fund their retirement like a business or cottage by cancelling the proposed increase to the Capital Gains inclusion rate.
- Reduced the cost of gas at the pumps and home heating bills by cutting the carbon tax on all consumers.