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Federal government upping the Old Age Security Benefit by 10%

seniorsBy Staff

April 20th, 2021

BURLINGTON, ON

 

Councillor Sharman has held two public sessions with Senior's as part of his effort to understand their needs and develop policy that Council can put in place to serve this vital community. At most of the sessions Sharman holds his Dad is often in the audience.

Those seniors who are 75 and over will see a 10% increase in the Old Age Security Benefits.

It is often difficult to see something in a federal budget that impacts your pocket.  Real dollars that you are going to receive directly – to your bank account if you are smart enough to use direct deposit.

The budget also proposes to increase Old Age Security by 10% for seniors 75 and over, beginning in 2022.

The current Old Age Security benefit maximum is:  $615.37.

These just may be the Golden Years.

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3 comments to Federal government upping the Old Age Security Benefit by 10%

  • Emily

    Very nice, but why only over 75? Why not all seniors who collect the pension?

  • While we are very blessed with pensions that meet our needs in the “Golden Years” as you call them this helps but does not address the basic needs of seniors who have to exist on Old Age Security even more so in these times.

    • Phillip Wooster

      Look on the good side–although the 10% increase won’t kick in until the middle of 2022, the increase will at least help compensate for the increased carbon taxes!