Finances of the Nation: Federal and Provincial Income Support Programs for Seniors in Canada

Tammy Schirle

Canadian Tax Journal, 2024, vol. 72, issue 3, 649-669

Abstract: This article describes the main federal and provincial income support programs available to seniors in Canada. Key provisions of programs, differences in demographic characteristics, and differences in labour market experience are important for understanding differences in the receipt of benefits across and within provinces. The author constructs and uses synthetic work histories to illustrate differences in expected contributions and benefits under the enhanced Canada Pension Plan. The author also describes how components of federal and provincial programs that target support to low-income seniors drive high marginal effective tax rates, resulting in provincial differences in the rewards for continued work at older ages.

Keywords: Retirement; pension plans; old age benefits; senior citizens (search for similar items in EconPapers)
Date: 2024
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DOI: 10.32721/ctj.2024.72.3.fn

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