Poilievre promises lower taxes, longer RRSP growth for seniors after 'Lost Liberal Decade'

Conservative Leader Pierre Poilievre is promising to lower taxes for seniors and extend the timeframe for holding RRSPs, while keeping the retirement age at 65 for Old Age Security (OAS), the Guaranteed Income Supplement (GIS), and the Canada Pension Plan (CPP). 

Poilievre’s proposal would allow working seniors to earn up to $34,000 tax-free, which is an increase of $10,000, and delay mandatory RRSP withdrawals until age 73, instead of the current age of 71.

Poilievre made the announcement on Wednesday, saying seniors deserve more control over how they plan their retirement years. 

“Our seniors should not have to work. But they should not be punished when they choose to,” said Poilievre. 

“We should reward rather than punish work. Those that choose to grow their savings for longer should have the chance. And we will not raise the retirement age. Seniors will keep getting their OAS, GIS, and CPP at age 65.”

Under the Conservative plan, seniors interested in staying in the workforce would benefit from fewer taxes and fewer clawbacks. 

Poilievre says this approach encourages those who wish to continue earning income, whether it is for extra spending money or because they enjoy working. 

For those preferring full retirement, he promises the existing age of eligibility for OAS, GIS, and CPP will remain the same.

The “Common Sense Conservatives” election platform also pledges to address crime, boost the economy, and maintain a strong stance against foreign leaders, including President Donald Trump. 

Poilievre says a new Conservative government would end what he calls a “Lost Liberal Decade” and focus on lowering costs for Canadians.

“After a Lost Liberal Decade, Canadian seniors can’t afford a fourth Liberal term making Canadians poorer and Canada weaker. They need a new Conservative government that will lower taxes and put Canada First – for a change,” said Poilievre.