Liberal government will ensure greater retirement security for our seniors
[September 14, 2015] – A Trudeau-led Liberal government will make sure that Canadian seniors get the secure and dignified retirement they deserve, said Liberal candidate for Brampton South, Sonia Sidhu.
“With record levels of household debt and an economy in recession, it is no wonder why Canadians in Brampton – and across the country – are worried about their retirement,” said Ms. Sidhu. “Right now, on average, a retired person receives just $618 per month from the Canada Pension Plan – hardly enough to live on. Our seniors have worked their entire lives, and should not have struggle to make ends meet. Justin Trudeau has a plan to ensure that all Canadians get the dignified retirement they have earned.”
As part of our three-point plan to create jobs, grow the middle class, and help those working hard to join the middle class, a Liberal government will work with the provinces and territories to significantly reform our retirement security system by:
- Restoring the eligibility age for Old Age Security and the Guaranteed Income Supplement to 65;
- Lifting hundreds of thousands of seniors out of poverty by immediately boosting the Guaranteed Income Supplement for single low-income seniors by ten percent;
- Introducing a new Seniors Price Index – in recognition of the fact that many seniors live on fixed incomes – to make sure that Old Age Security and the Guaranteed Income Supplement keep up with rising costs;
- Beginning discussions with the provinces and territories, workers, employers and others on how to enhance the Canada Pension Plan within our first three months in government;
- Not cutting pension income splitting for seniors;
- Prioritizing significant new investment in affordable housing and seniors’ facilities as part of a Liberal government’s commitment to a new, ten-year investment of nearly $20 billion in social infrastructure.
- Introducing a more flexible and accessible Employment Insurance Compassionate Care Benefit; and
“Every day, I speak with people who tell me that they are struggling – that they are working longer and harder just to make ends meet, that they have to choose between saving for their kids’ education or for their own retirement. That’s just not right,” said Ms. Sidhu “Only Liberals have a plan to ensure that all seniors are able to retire in security and dignity, and that all Canadians have a real and fair chance at success.”