NIA Makes 2025 Pre-Budget Submission to Standing Committee on Finance
Canada is currently undergoing a significant demographic transition. We will soon join the ranks of countries such as Japan and Italy in being considered a “super-aged nation.”
The National Institute on Ageing’s annual survey of Canadians aged 50 years and over reveals some important trends facing our ageing population:[i]
- Social isolation and loneliness are taking a toll: 41% of older adults in Canada are at risk of social isolation and 58% have experienced loneliness, which can increase the risk of mood disorders, dementia, cardiovascular disease, malnutrition, falls and premature mortality.[ii]
- Older adults are struggling to make ends meet: 24% said that their income is not enough for them. Only one-third (35%) of older adults currently working say they can afford to retire at their desired time.
- Older adults are facing significant health challenges: 55% are living with one or more chronic health conditions, yet 32% were unable to access health care services and 50% were unable to access home care services when they needed them.
- Ageism is widespread in Canada: 32% of older adults in Canada reported experiencing discrimination because of their age at some point in their lives. When asked about everyday experiences of ageism – such as being exposed to jokes or comments about older adults – that number jumps to 71%.
The federal government must take these trends into consideration when developing the budgetary priorities for 2025. In our recent submission to the Standing Committee on Finance (FINA) pre-budget consultations, we urged federal policymakers to tackle key issues affecting older adults in Canada through five key recommendations:
- Allocate sufficient resources to fully fund the National Caregiving Strategy, including transforming the Canada Caregiver Credit into a refundable benefit, per the Minister of Finance’s 2021 Mandate Letter.
- Fulfil the Minister of Seniors’ 2021 Mandate Letter commitment to increase the Guaranteed Income Supplement by $500 for single individuals and $750 for couples starting at age 65.
- Increase the funding allocation limit and extend project time periods for the New Horizons Seniors Program to provide much-needed funding predictability and stability to critical community-based seniors service programs working to prevent social isolation.
- Support more older adults to age in the right place by prioritizing accessible, affordable housing and developing an Ageing at Home Benefit.
- Combat ageism in Canada by supporting a United Nations Convention on the Rights of Older Adults.
Join us in advocating for a Canada where older adults feel valued, included, supported and better prepared to age with confidence. Read the full submission here.