Old Age Security is increasing by 10 per cent.
This is the first increase since 1973 besides inflation adjustments, according to Canada’s Minister of Seniors, Deb Schulte.
“This is our next step in the plan to strengthen the financial security of seniors.” says Schulte.
She says Budget 2021 is especially helpful for seniors. The federal government will issue a one-time $500 payment in August directly to seniors aged 75 and up, as of June 2022.
In July of 2022, the federal government will permanently increase the Old Age Security pension by 10 per cent for seniors aged 75 and up.
Schulte is also discussing community projects for seniors.
She says the Age Well at Home Initiative will help seniors who want to continue living in their own home, but need help.
“They have more needs in term of physical, they would like to stay in their homes but they need help,” says Schulte. “They’re turning to the community and some communities have been able to step up but they need more help. So the governments going to be funding community organizations that are coordinating with volunteers to provide services for seniors”
The federal government is investing $90 million into the program.
Another program is the ongoing of New Horizons projects. Schulte says the program calls for proposals every year from community groups to bring forward ideas to engage with seniors.
“The program is there to fight against isolation, to help address ageism, to help address elder abuse,” says Schulte. “It is there to help with financial information and keeping people safe online. There are so many initiatives that can be identified by the organization and what they would like to address for their community of seniors.
Schulte says the government is funding and supporting 5000 programs across the country.
The federal government is also investing an additional $3 billion in the provinces and territories to ensure that standards for long term care are applied and changes are made.
“With the tragedies that occurred in long term care, all levels of government need to step up and we need to work together to improve the outcomes for those living in long term care.” says Schulte.
