Conservative Leader Pierre Poilievre said seniors who choose to work after reaching the retirement age should not be penalized financially.
Poilievre’s latest electoral promise would see seniors allowed to earn up to $34,000 tax free, an increase of $10,000 over the current system which approximately has a $15,000 personal exemption and a $9,000 age credit.
“We need our smartest, wisest people who choose to contribute, to offer all they can, and we need to reward them when they do,” Poilievre said during a campaign stop in Montmagny, Que., on March 26.
Other proposed measures to help seniors include pushing back the age limit to decide what to do with retirement savings accounts, or RRSPs, from 71 to 73, allowing savings to keep growing for two extra years. The options are to withdraw the money, transfer it to a registered retirement income fund (RRIF), or to purchase an annuity….