Supporting Canada's Seniors

Click here to see what Prime Minister Harper & Michelle Rempel have done for Canadian Seniors

Seniors

Our low tax plan has helped remove over 380,000 seniors from the tax rolls. 

Our Conservative Government is committed to enhancing the well-being of Canada’s seniors during the retirements they have earned. We recognize that Canada’s seniors have helped build and make our country great. We have a strong record of supporting Canadian seniors.

Since 2006 our Government has:

  • -introduced tax relief measures specifically for seniors such as pension income splitting, twice

  • -increasing the Age Credit, and increasing GIS benefits for recipients who choose to work

  • -introduced legislation to make our streets and communities safer so that seniors feel safe in their own homes and communities

  • -doubled the Pension Income Credit to $2,000

  • -taken a strong stand against elder abuse, raising awareness to recognize the signs of elder abuse and deal with those who abuse seniors physically, financially and mentally

  • -created a dedicated Minister of State for Seniors bringing seniors’ issues directly to the Cabinet table

  • -established October 1st as National Seniors Day

  • -increased the age limit for RRSP-to-RRIF conversion to 71 from 69

  • -expanded the Targeted Initiative for Older Workers by investing $75 million to help unemployed

  • -older workers put their talents and experience back to work

  • -enhanced the New Horizons for Seniors Program by increasing funding by an additional $5 million per year

Pension income splitting reduces income tax for a pensioner couple by allowing the higher-income spouse to allocate an amount of income to a lower-income spouse for tax purposes.

In Budget 2008, our Government increased the GIS earnings exemption from $500 to $3,500, meaning that a GIS recipient with employment income is now able to keep more of his or her hard-earned money without any reduction in GIS benefits. A single pensioner earning $3,500 or more can keep an additional $1,500 in annual GIS benefits. Nearly 100,000 low-income seniors benefit from this measure.

  • -Economic Action Plan 2015 continues our record of strong support of seniors, with measures that include:

  • -increasing the Tax-Free Savings Account (TFSA) annual contribution limit to help make it easier for Canadians to save without affecting eligibility for federal income-tested benefits such as Old Age Security or Guaranteed Income Supplement benefits

  • -reducing the minimum withdrawal factors for Registered Retirement Income Funds (RRIFs) to allow seniors the choice to preserve more of their retirement savings, which will better support their retirement income needs. With this change, a senior citizen at 85 would be able to keep one third more of their money in RRIFs

  • -introducing a new Home Accessibility Tax Credit for seniors and persons with disabilities to facilitate healthy and accessible homes

  • -establishing the Canadian Centre for Aging and Brain Health Innovation, to help discover new tools to help seniors with aging and brain-related issues