Advertisement
Politics

Trudeau promises to boost old age security, CPP benefits if re-elected

WATCH ABOVE: Trudeau promises to boost old age security, CPP benefits

FREDERICTON — Justin Trudeau is promising to do more to boost incomes for seniors, widows and widowers.

He says a re-elected Liberal government would increase old age security by an extra 10 per cent once a senior turns 75, and will boost the Canada Pension Plan survivor’s benefit by 25 per cent.

Trudeau made the announcement at a lawn bowling club in Fredericton, a riding the Liberals picked up in 2015 as part of their sweep of the Atlantic provinces.

WATCH: Justin Trudeau made a number of stops in New Brunswick the election campaign continued on Wednesday. Silas Brown brings us the latest.

Justin Trudeau stops in New Brunswick as election campaign continues
Justin Trudeau stops in New Brunswick as election campaign continues

FACT CHECK: Trudeau released child care record with inaccuracies, half-truths

While the Liberals — and other parties — have been targeting young families in the early stages of this campaign, voters over the age of 65 are often those who most reliably show up at the polls.

Story continues below advertisement

“Our parents have worked so hard and sacrificed so much to give us a good life,” Trudeau said.

“Once they get to retirement they shouldn’t have to worry about their savings running out.”

READ MORE: Grits, Tories both promise to make parental leave tax-free. Who has the better offer?

Survivor benefits would see an increase of $2,080, while the increases to OAS mean $729 more for seniors each year. It would take effect in July 2020 and be indexed to keep up with inflation.

The Liberals say the increase to OAS will cost $1.63 billion in 2020-21, rising to $2.56 billion in 2023-24.

Trudeau is spending most of the day in New Brunswick before moving onto Nova Scotia for a campaign event this evening.