Assisting our poorest seniors in Canada should be a priority for all of us;
The quality of life for seniors could be improved by recognizing the importance of increasing the Old Age Supplement.
We, the undersigned, residents of Canada call upon Canada's Members of Parliament to increase Canada's OAS program to insure that those that need it the most are getting more.
The Old Age Security (OAS) program is the first pillar of Canada’s retirement income system. The benefits under the OAS program include the OAS pension, which is paid to all persons aged 65 or over who meet the residence requirements, the Guaranteed Income Supplement (GIS) for low-income seniors, and the Allowances for low-income Canadians aged 60 to 64 who are the spouses or common-law partners of GIS recipients, or who are widows or widowers.
The OAS program provides a modest base upon which individuals can add income from the second pillar of the retirement income system, such as the Canada Pension Plan/Québec Pension Plan, and the third pillar, comprised of employer-sponsored pension plans, personal registered retirement savings plans, tax-free savings accounts, as well as other personal savings and investments, to address their particular financial circumstances.
To ensure that they retain their value over time, OAS benefits are reviewed four times per year (in January, April, July and October) in accordance with changes in the Consumer Price Index (CPI). The CPI measures the price of a typical “basket” of goods and services, such as food, shelter, gas and clothing, commonly purchased by Canadian households. The quarterly indexation provides benefit increases to recipients when prices go up. In addition, the Old Age Security Act contains a guarantee ensuring that benefits can never go down, even in the event of a decline in the CPI.
The Government of Canada remains committed to improving the income security of seniors and continues to seek ways to strengthen the OAS program, as demonstrated by a broad range of measures taken since 2015:
Only validated signatures are counted towards the total number of signatures.