August 2025
At a time of economic instability, rising living costs, and increased financial vulnerability among older Canadians, CARP is calling on the federal government to take immediate bold action to protect the financial stability and independence of Canadian seniors. CARP has submitted its recommendation to the House of Commons Standing Committee on Finance (FINA) as part of the 2025 federal pre-budget submission consultations on August 1, 2025.
CARP’s submission reflects the lived realities of our members and seniors across the country. It calls on the federal government to take meaningful action to protect the financial dignity and independence of seniors. Our recommendations focus on concrete, actionable solutions that reflect the priorities of Canada’s growing demographic.
This year’s submission comes at a critical moment with government deficits spiking and new policies under consideration. CARP is drawing a firm line: Canada cannot balance its books on the backs of seniors. They are taxpayers, caregivers, community leaders, and citizens who deserve fairness, protection and respect.
CARP’s submission outlines five urgent policy recommendations that reflect real challenges that affect the financial security of Canadian seniors.
Key recommendations include
- Protecting the Integrity of the Old Age Security (OAS)
- Eliminating Mandatory Registered Retirement Income Fund (RRIF) withdrawals
- Ending the Exploitation of Retail Investors by Holding Banks and Regulators Accountable, Enforcing Fiduciary Standards and Ensuring Fair Competition and Investment Choice
- Strengthening the Criminal Code and Enforcement Against Frauds and Scams Targeting Seniors
- Unequivocally Denouncing the Implementation of a Home Equity Tax
