CKUA

[Tackler]

Seniors:

* The age credit amount will be increased by $1,000 to $5,066.

* Pension income splitting will be introduced.

* The age limit for converting Registered Retirement Savings Plans will be raised from 69 to 71.

* Phased retirement will be permitted to encourage older workers to stay in the workforce. An employer will be allowed to pay a partial pension to an employee and at the same time provide further pension benefit accruals to the employee.