CARP Urges Federal Action in 2026 Pre-Budget Submission to Protect Seniors’ Financial Security.

Posted on by Stella Song

April 2026

 

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 2026 federal pre-budget submission consultations on April 30, 2026.

 

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 rapidly growing population of seniors.  

 

This year’s submission comes at a pivotal moment. With government deficits rising and new fiscal measures under consideration, CARP is making one thing clear: 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 four 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) Benefit and Extending the 10% Increase to All Seniors Aged 65+
  • 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  
  • Accelerating the Approval and Timely Public Access to New Medicines and Treatments While Supporting Made-in-Canada Pharmaceutical Manufacturing

 

These recommendations are grounded in the realities facing older Canadians today and are designed to ensure seniors can maintain their independence and age with dignity.

 

To read CARP’s full pre-budget submission, click here.