July 21, 2022 Gatineau, Quebec Employment and Social Development Canada
The Government of Canada is committed to supporting seniors after a lifetime of hard work. That’s why the Government of Canada has taken historic measures to improve financial security for the oldest seniors.
This will be the first permanent increase to the OAS pension since 1973, other than adjustments due to inflation. It will strengthen the financial security of 3.3 million seniors. Eligible seniors will not have to take any action to receive this increase—their payments will be automatically increased.
These measures are part of broader work to support the financial security of seniors of all ages, including the following:
“The permanent increase to the OAS pension will help provide older seniors with greater financial security now and in the future. Younger seniors—and all Canadians—can enjoy greater peace of mind while planning their retirement finances, knowing they will be able to count on more support from the OAS pension in their later years.”
– The Honourable Kamal Khera, Minister of Seniors
“Today’s announcement is further evidence of our concrete commitment to deliver for seniors in Quebec and across Canada. Since the beginning of the pandemic, we’ve promised not to leave anyone behind and that’s what we’ve done, through a one-time payment and various programs that have made a real difference for seniors in our communities. Now that we’re talking about recovery, we are making that commitment again and we’ll do what it takes to ensure all Canadians can age safely and with dignity. We will always continue to work to deliver for seniors!”
– The Honourable Pablo Rodriguez, Minister of Canadian Heritage and Quebec Lieutenant
“The mental, physical and financial security of seniors must remain a priority for all governments. Groupe Sélection is happy to see the increase of the OAS for those 75 and over and will always be there to support measures that improve the quality of life of older Canadians.”
– Réal Bouclin, Founding President and Chief Executive Officer of Groupe Sélection