A safe and dignified retirement for Canadian seniors

The global COVID-19 pandemic has been devastating for Canada’s seniors, especially those living in long-term care homes. On top of this crisis, too many seniors are worried about their retirement savings running out and concerned about being able to live independently in their own homes.

To give more than three million seniors greater financial security and put more money in their pockets as they advance in their retirement, Budget 2021 proposes to increase the Old Age Security (OAS) pension by 10 per cent for seniors 75 and over as of July 2022. It also proposes a one-time payment of $500 in August 2021 to OAS pensioners who will be 75 or over as of June 30, 2022.

To support the independence of seniors who live at home, Budget 2021 proposes to launch the Age Well at Home Initiative. This new initiative will assist community-based organizations in providing support to seniors – such as matching seniors with volunteers who can help with meal preparations, home maintenance, daily errands, yard work, and transportation – and will allow them to live independently in their homes for longer.

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