The Liberals increased Old Age Security (OAS) by 10% for seniors older than 75 years of age earning less than $77,580. The change meant an increase of $729 annually in OAS starting in July 2020.

The Liberals also provided an enhancement to the survivor benefit of the Canada Pension Plan (CPP). The maximum pensionable earnings have increased to $58,700, up from $57,400. In addition, a surviving spouse, over the age of 65 and not otherwise receiving CPP benefits, is able to get 60% of their deceased spouse’s pension. This means an increase of $2,080 annually. Survivors between 60-64 years of age are eligible for 37.5%.