The parties' promises on Retirement savings and income

Retirement savings and income platforms

Here's what the 2025 Canadian election parties are promising.

Reduce the minimum amount that must be withdrawn from a Registered Retirement Income Fund by 25% for one year

"Protect retirement savings by reducing the minimum amount that must be withdrawn from a Registered Retirement Income Fund (RRIF) by 25% for one year. This will allow Canadian seniors more flexibility in choosing when to draw from their retirement savings;" — liberal.ca, retrieved 2025-04-14
Increase the Guaranteed Income Supplement by 5% for one year

"Increase the Guaranteed Income Supplement by 5% for one year, providing up to $652 more to low-income seniors, tax-free." — liberal.ca, retrieved 2025-04-14

Allow working seniors to earn up to $34K tax-free

"Allow working seniors to earn up to $34,000 tax free—$10k more than now." — conservative.ca, retrieved 2025-04-17
Allow seniors the option of keeping savings growing in RRSPs until age 73, up from 71

"Allow seniors the option of keeping their RRSPs another 2 years before mandatory conversion to RRIFs (from 71 to 73)." — Change, retrieved 2025-04-23
Keep the retirement age at 65

Défendre le maintien de l’âge de la retraite à 65 ans
Déposer un projet de loi pour hausser la pension de vieillesse des 65 à 74 ans de 10 % et mettre fin aux deux classes d’aînés
Proposer des incitatifs fiscaux pour les aînés qui choisissent de rester sur le marché du travail
Créer d’incitatifs fiscaux rendant les REER certifiés durables plus avantageux que ceux qui ne le sont pas

Raise the Guaranteed Income Supplement to lift all seniors out of poverty

"And we will take a tangible step towards a guaranteed livable income by raising the Guaranteed Income Supplement to lift all seniors out of poverty." — ndp.ca, retrieved 2025-04-19

We don't have any Green policies on Retirement savings and income.