OTTAWA, May 2, 2016 /CNW/ - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, spoke today about the importance of encouraging and supporting the ongoing participation of older workers in society at the Age‑Friendly Business Initiative Forum, hosted by the International Longevity Centre (ILC) Canada and the University of Ottawa. Minister Duclos recognized the valuable skills and knowledge that older workers bring to the workplace, and he congratulated ILC Canada for bringing together government, the private sector, researchers and stakeholders to work towards creating age-friendly businesses.
The Government of Canada works collaboratively with partners and stakeholders to promote the well-being of older Canadians across the country. Budget 2016 delivers on the Government's agenda to empower all Canadians to build better lives for themselves and to enable them to contribute to, and share in, the prosperity of the country.
While recognizing many Canadians will continue to work past the traditional retirement age, Budget 2016 makes the goal of a comfortable and dignified retirement more attainable for working Canadians, through measures such as restoring the age of eligibility for Old Age Security benefits from 67 to 65. In addition, Budget 2016 proposes to increase the Guaranteed Income Supplement top-up by $947 annually for the most vulnerable single seniors.
"Our population is aging—we need to dispel myths about older workers and encourage age-friendly businesses that support, attract and retain older workers so they can continue to contribute to our economy and our communities. Our government recognizes the important contributions of older Canadians in our country, and we will continue to work with partners and stakeholders in building a secure future for all Canadians."
– The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
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Budget 2016 makes the goal of a comfortable and dignified retirement more attainable for seniors and working Canadians through various measures, such as restoring the age of eligibility for the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) from 67 to 65. This change will put up to $17,000 into the pockets of the lowest-income Canadians each year, as they become seniors.
Restoring the age of eligibility for the OAS pension and the GIS from 67 to 65 is only one of the many enhancements announced that will help improve the quality of life for seniors.
Additional measures include:
- increasing the GIS top-up by $947 annually for the most vulnerable single seniors;
- providing higher benefits to senior couples receiving GIS and Allowance benefits and who are living apart for reasons beyond their control;
- engaging with provincial and territorial governments to enhance the Canada Pension Plan, with the goal of being able to make a collective decision before the end of 2016;
- looking at how a new seniors price index that reflects the cost of living faced by seniors could be developed; and
- providing for the construction, repair and adaption of affordable housing to help the many seniors who face challenges in accessing affordable housing.
SOURCE Employment and Social Development Canada
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