2025 Federal Election Platforms Concerning Older Adults

Conservatives

Policy Proposals

1. Retirement Age Protection

   • Protect OAS, GIS & CPP by keeping the retirement age at 65.

     • This policy maintains the current retirement age of 65 for eligibility for benefits such as OAS, GIS, and CPP. The eligibility age was historically set at 65, later increased to 67, and subsequently reverted to 65.

2. Tax Relief for Working Seniors

   • Allow working seniors to earn up to $34,000 tax free—$10k more than now.

     • Conservative Tax Relief for Working Seniors - Allow working seniors to earn up to $34,000 tax free—$10k more than now. This policy would increase the tax-free earnings threshold for working older adults to $34,000, allowing them to keep more of their paycheque. Current income support programs apply a 50% clawback beginning at $5,000 of earned income, which could limit the benefit for lower-income older adults.

3. RRSP Withdrawal Flexibility

   • Allow seniors the option of keeping savings growing in RRSPs until age 73, up from 71.

     • This policy would allow older adults to defer converting their RRSPs to RRIFs until age 73, giving them two additional years for potential tax-deferred growth. This could provide greater flexibility for retirement planning, while withdrawals would remain fully taxable. This could impact eligibility for income-tested benefits like OAS and GIS.

Liberals

Policy Proposals

1. Protect retirement savings

   • Protect retirement savings by reducing the minimum amount that must be withdrawn from a Registered Retirement Income Fund (RRIF) by 25% for one year.

     • This temporary reduction in the required minimum RRIF withdrawal amount could allow older adults to preserve more of their retirement savings during periods of market volatility.

2. Increase the Guaranteed Income Supplement

   • Increase the Guaranteed Income Supplement by 5% for one year, providing up to $652 more to low-income seniors, tax-free.

     • A one-time 5% increase to the GIS would provide a modest, tax-free income boost for low-income older adults. While the additional support may offer short-term relief, its temporary nature limits its long-term impact on financial security.

3. Health Benefit Expansion

   • Continue the dental care program, with previous expansions including seniors.

     • Public dental coverage helps remove financial barriers to care, making routine and preventive care more accessible to older adults aged 65+. A promise to fully implement dental care coverage for those aged 18–64 would expand access to older adults aged 50+, who are currently not covered by the public program.

4. Ageing in Place

   • Support policies that enable seniors to age in place, including funding for home care and home adaptations.

     • Most older adults in Canada would prefer to remain in their homes as they age, and government support should focus on supports that enable ageing in the right place - emphasizing safety, accessibility, and social connection in familiar surroundings. Without a funding commitment attached, it is difficult to evaluate potential impact.

NDP

1. Increase the Guaranteed Income Supplement

   • Lift all seniors out of poverty by raising the Guaranteed Income Supplement (GIS).

     • Raising the GIS with the goal of eliminating older adult poverty could have a significant impact, but the outcome depends on how the increase is structured.

2. National Pharmacare

   • Introduce universal pharmacare, starting with covering about 100 essential medications within four years.

     • Most provinces already offer pharmacare programs for older adults; the impact of this initiative will depend heavily on the specific details.

Green Party

1. Guaranteed Livable Income

   • Introduce a Guaranteed Livable Income, so no one lives in poverty

     • Replacing OAS, GIS, and CPP – programs that have successfully reduced poverty among older adults in Canada - with a new program would be highly complex.

2. Expanded Paid Leave

   • Expand paid leave to elder care

     • Expanding paid leave to include care for older adult family members could provide valuable support to caregivers, helping them balance work and family responsibilities. The effectiveness of the policy would depend on its design and funding, and it may involve substantial public or employer costs.