On Parliament Hill

Our Conservative Government is focused on delivering services and benefits that meet the needs of Canada’s Veterans and their families. Indeed, since coming into office, we have introduced over $5 billion in new funding to improve Veterans’ programs and we implemented the New Veterans Charter to help ensure that Veterans and their families receive the care and support they need, when they need it. Now we are introducing the Retirement Income Security Benefit to help improve the financial security of injured Veterans and their families.

This monthly benefit will address a significant gap in Canada’s Veterans’ benefits. Currently, the Earnings Loss Benefit provides important financial support to Veterans who are most seriously injured in their service to our country, but this income support ends after the age of 65. The Retirement Income Security Benefit will establish continued support throughout the lifetime of a disabled Veteran, by providing financial support beyond the age of 65 to Veterans who are moderately to severely disabled.

The Retirement Income Security Benefit will promote financial security by ensuring that in retirement disabled Veterans receive a total annual income equal to at least 70% of what they received before age 65.  The amount received will be calculated on a case-by-case basis, and will depend on the benefits received before the age of 65 and other sources of income.

This benefit will deliver important financial support to those Veterans whose ability to save for retirement was directly impacted by their service to Canada. And, this new financial benefit will provide even further support for injured Veterans and their families through continued payments to the Veteran’s survivor.

Veterans who are disabled because of their service to our country have sacrificed so much, and deserve our continued support. This benefit complements existing benefits and services available to them including health and wellness measures like the Legacy of Care for seriously-injured military personnel and the new Operational Stress Injury clinic opening in Nova Scotia and its satellite offices across Canada.

Canada’s Veterans have served our country with great distinction. Our Conservative Government is committed to ensuring that Canada’s Veterans and their families get the support they deserve.