By making responsible updates to retirement policies

At least $14 billion in compensation could be delivered by modernizing outdated retirement policies in ways that most Canadians support.

Old Age Security sends $18,000 a year in taxpayer funded cash subsidies to retired couples with $185,000 in household income. Trimming these subsidies only for those with six-figure incomes would save $7 billion/year right now - and $9 billion by 2030.

Canada spends $7 billion a year to fund two retiree tax shelters that fail to reach the poorest seniors. As our population ages and living costs rise, these funds could be used to make the biggest affordability gains in decades for young and old alike. 

With the savings from these responsible reforms, Canada could:

• Eliminate poverty for 400,000 seniors

AND

• Help a million young people afford rent
• Fund 100,000 more $10-a-day child care spaces
• Prevent cuts to Canada Student Grants for one million students 
• Create tens-of-thousands of jobs via an expanded Youth Climate Corps