Welcome to Our Canadian Pensions Information and Assistance Hub

Canadians who have worked hard throughout their lives deserve a secure and comfortable retirement. The government's commitment to ensuring this security is evident through its robust social safety net programs. Old Age Security (OAS), the largest of these programs, is set to distribute $80.6 billion to over seven million seniors this year, significantly reducing senior poverty. Additionally, the Canada Pension Plan (CPP) serves as a fundamental support, providing an average of $8,400 annually to nearly 6 million retirees.

In a move to further support retirees, the government, in 2016, reversed a decision to delay OAS and Guaranteed Income Supplement (GIS) benefits from ages 65 to 67. Since 2015, enhancements to pensions and benefits have lifted approximately 11,000 seniors out of poverty, reducing the senior poverty rate from 7.1% in 2015 to 5.6% in 2021.

Today, seniors are the least likely of all age groups to live in poverty—a significant change from 1976 when seniors had the highest poverty rates. The government continues to protect and strengthen these benefits, ensuring seniors can enjoy their golden years after a lifetime of contribution.

Navigating the complexities of Canadian pensions can be challenging, but as your Member of Parliament, I am here to help ensure you have access to all the resources you need to understand and manage your pension effectively. Our office provides guidance and direct support through free pension clinics and detailed information about Canada's pension systems.

Understanding Your Pension Options

1. Canada Pension Plan (CPP)

   Overview: The Canada Pension Plan provides contributors and their families with partial replacement of earnings in the case of retirement, disability, or death. It covers almost all individuals who work in Canada outside Quebec and is mandatory for most workers.

   2024 Updates: Budget 2024 introduces several legislative changes to the CPP, including a top-up to the CPP Death Benefit for certain contributors, a partial children’s benefit for part-time students, extended eligibility for disabled contributor’s children’s benefit when a parent reaches age 65, and an end to eligibility for a survivor pension in cases where people are legally separated after a division of pensionable earnings.

   Resources: Learn more about how the CPP works, your contribution rates, benefits you can receive, and how to apply for them on the Service Canada website: https://www.canada.ca/en/services/benefits/publicpensions/cpp.html.

2. Old Age Security (OAS)

   Overview: The Old Age Security program is a monthly payment available to most Canadians 65 years of age who meet the Canadian residency requirements. It provides a modest base upon which individuals can build their retirement income.

   Resources: For detailed information on eligibility requirements, the application process, and how benefits are calculated, visit the Service Canada OAS page: https://www.canada.ca/en/services/benefits/publicpensions/oas.html.

3. Guaranteed Income Supplement (GIS)

   Overview: The Guaranteed Income Supplement provides additional financial support to low-income Old Age Security recipients living in Canada. It's aimed at preventing seniors from experiencing financial hardship.

   Resources: Explore how to qualify for GIS, the application guidelines, and how GIS payments are affected by other income, available at: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/guaranteed-income-supplement.html.