TODAY, Old Age Security payments will increase permanently by 10% for seniors aged 75 and over. That means full pensioners will get more than $800 extra over the first year! This will strengthen the financial security of over 3 million seniors.
We know that as seniors age, they often have lower incomes while facing higher expenses due so many factors. And we know that this financial vulnerability is made that much harder by a reduced ability to supplement income through paid employment, depleted personal savings, and more. That’s why we’re taking action to help!