Dear Editor,
Unlike the Conservatives, who were only focused on pushing back the age of retirement to 67, our government is committed to supporting seniors and ensuring they can collect CPP at 65.
With Budget 2019, our government is making life more affordable for Canadian seniors, and empowering those who want to stay active and involved in their communities.
As a result, we have committed $100 million nationally over five years, with ongoing funds for the New Horizons Seniors Program for community-based projects that foster social inclusion and engagement of seniors in all aspects of society
We are making sure that working seniors can keep more of their hard-earned income by amending tax rules to allow individuals to purchase an Advanced Life Deferred Annuity (ALDA), also known as longevity insurance. This can be started as late as the year in which an individual turns 85, and can be purchased with funds from a Registered Retirement Plan.
Lastly, to make sure that no senior slips through the cracks, Budget 2019 will ensure everyone gets the CPP benefits they are entitled to.
If you would like to view the entire Budget 2019 please click here.
John Aldag, MP, Cloverdale-Langley City