{"id":57904,"date":"2025-03-26T21:06:04","date_gmt":"2025-03-26T21:06:04","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/03\/26\/heres-what-the-conservative-savings-plan-for-seniors-means\/"},"modified":"2025-03-26T21:06:04","modified_gmt":"2025-03-26T21:06:04","slug":"heres-what-the-conservative-savings-plan-for-seniors-means","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/03\/26\/heres-what-the-conservative-savings-plan-for-seniors-means\/","title":{"rendered":"Here&#8217;s what the Conservative savings plan for seniors means"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">Federal Election<\/li>\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Personal Finance<\/li>\n<li class=\"breadcrumbs__item\">Retirement<\/li>\n<li class=\"breadcrumbs__item\">Taxes<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Conservatives say they would allow working seniors to earn as much as $34,000 a year without paying income tax<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Mar 26, 2025<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 8\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"f5b21e2d-086e-4f15-b729-9ba95fe48bbb\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=webp&amp;sig=lApUUf8cvfyvME_amGkp9g,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=webp&amp;sig=leaqz8GPDc-xmSEkWt_Bug 2x\" type=\"image\/webp\"><source media=\"(min-width: 1200px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=564&amp;h=423&amp;type=jpg&amp;sig=o6F5uHMV6fYtCM33ly3Qgw,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=1128&amp;h=846&amp;type=jpg&amp;sig=4AiEpXlouiYptfjevKezpQ 2x\" type=\"image\/jpeg\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=webp&amp;sig=mfIG3WLDolslgjLymFbNpg,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=webp&amp;sig=b9df5CdL3H8Av-dbIPPAKg 2x\" type=\"image\/webp\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=472&amp;h=354&amp;type=jpg&amp;sig=Ft9hz5QysaNZLmVJmRHLQA,&#10;                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=944&amp;h=708&amp;type=jpg&amp;sig=RwqAV7CzzSukglcwaX1ecg 2x\" type=\"image\/jpeg\"><source media=\"(max-width: 767px)\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=288&amp;h=216&amp;type=webp&amp;sig=tmvkY0nBlF2YAhwiAZtayw,&#10;            https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/no0326poilievre.jpg?quality=90&amp;strip=all&amp;w=576&amp;h=432&amp;type=webp&amp;sig=GTQhYbc7G8AMdGx25n8YpA 2x\" type=\"image\/webp\"><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Conservative leader Pierre Poilievre makes an announcement in Vaughan, Ont. on March 25.<\/span> <span class=\"credit\">Photo by Ernest Doroszuk\/Toronto Sun\/Postmedia files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<div class=\"article-content__content-group\" data-aqa=\"disclaimer-skimlinks\" hidden=\"\" id=\"disclaimer\">\n<p><em>Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.<\/em><\/p>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">The federal Conservatives floated a plan targeting older voters on Wednesday, pledging to lower taxes for seniors and to extend the window for retirement savings.<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>In a statement on their website, the Conservatives said they would allow working seniors to earn as much as $34,000 a year without paying income tax.<\/p>\n<p data-async=\"\">They also proposed pushing the registered retirement savings plan (RRSP) age limit from 71 to 73 and promised to hold the retirement age at 65 for Canada Pension Plan (CPP), Old Age Security (OAS) and Guaranteed Income Supplement (GIS) qualification.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment6920968063982486485290426549927936\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg 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on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">\u201cOur seniors should not have to work. But they should not be punished when they choose to,\u201d said Conservative Party leader Pierre Poilievre in a statement. \u201cWe should reward rather than punish work. Those that choose to grow their savings for longer should have the chance.\u201d<\/p>\n<p>Here\u2019s what the Conservative plan means for older Canadians.<\/p>\n<h2>How would the income-tax break work?<\/h2>\n<p>Regardless of age, all Canadian tax filers can claim a basic personal amount (BPA), which is $15,705 for 2024.<\/p>\n<p>Filers who are 65 and older and within a set income limit\u00a0can also claim a non-refundable tax credit. This amount is currently $8,790\u00a0for seniors with income of $44,325 or less, but varies for those with incomes between $44,325 and $102,925.<\/p>\n<p>This means seniors can currently earn up to about $24,500 without paying taxes.<\/p>\n<p>Jamie Golombek, managing director in tax and estate planning at Canadian Imperial Bank of Commerce (CIBC) Private Wealth, highlighted the wording of the Conservatives\u2019 statement, which suggested only working seniors would benefit from the lower taxes promised by the party.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot22 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste7935657029756453785531457942323200\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" alt=\"Posthaste\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.3.1\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment1382237730979506332105972731871232\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cI suspect that (extra) $10,000 to be tax free, assuming it\u2019s from employment income,\u201d Golombek said. \u201cIt would be an incentive to get people to continue working \u2026 and allow them to keep (more of that money).\u201d<\/p>\n<p data-async=\"\">Canada\u2019s population is continuing to age. According to the most recent data from Statistics Canada, nearly one-fifth (18.9 per cent) of the population was at least 65 years of age in 2023, up from\u00a012.6 per cent in 2000.<\/p>\n<p data-async=\"\">A separate Statistics Canada survey found one in five seniors aged 65 to 74 worked in 2022 \u2014 nearly half of them by necessity, with immigrant seniors more likely to extend their employment than their Canadian-born counterparts.<\/p>\n<h2>How would the RRSP extension work?<\/h2>\n<p>The Conservatives also said they would extend the RRSP age limit to 73, which means Canadians can contribute to their plans for an extra two years.<\/p>\n<p>The RRSP age limit currently stands at 71, at which point seniors must withdraw their funds as a lump sum, use the funds to purchase an annuity or convert their RRSP into a Registered Retirement Income Fund (RRIF) and make minimum withdrawals each year.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment2211839716061694082769520687054848\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>These minimum withdrawals depend on factors like your age (the older you are, the higher the percentage that needs to be withdrawn) and the total value in the RRIF.<\/p>\n<p>Any funds within the RRIF can grow tax-free, until you make withdrawals, which are considered taxable income.<\/p>\n<p>Golombek said he\u2019s been advocating for an extension in the age limit for a while to allow seniors the opportunity to grow their savings further.<\/p>\n<p>\u201cIt used to be that people retired magically at age 65 \u2014 and that\u2019s why most people took OAS, CPP and GIS at 65 \u2014 but with people continuing to work longer \u2026\u00a0(the Conservatives\u2019 proposal) allows them to continue to grow their pool of retirement funds a couple of extra years,\u201d said Golombek.<\/p>\n<p>\u201cThey will have more money for retirement and even contribute to that retirement during those working years.\u201d<\/p>\n<h2>Will extending the age limit for RRSPs broaden their appeal?<\/h2>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment9432742101956397745208896769753088\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">Lu Zhang, a finance professor at Toronto Metropolitan University\u2019s Ted Rogers School of Management, co-authored a 2023 paper exploring how TFSAs have become more popular than RRSPs. Although TFSAs have no upper age limit, contributions are limited to a specific dollar value (in 2025, the contribution limit is $7,000).<\/p>\n<p>RRSPs, on the other hand, allow you to contribute 18 per cent of your earned income for that year, up to\u00a0$32,490 in 2025.<\/p>\n<p>\u201cWe discovered in that paper that people tend to use TFSA to replace RRSP savings,\u201d she said. \u201cThat trend was especially significant for seniors because \u2026 they started moving money out of their RRSP to TFSA and other saving vehicles to avoid that deadline at age of 71.\u201d<\/p>\n<p>Zhang expects that extending the\u00a0RRSP maturity age would broaden the appeal for this retirement savings plan.<\/p>\n<p>However, Golombek said the general rule is that\u00a0if someone is in a relatively higher tax bracket while they are working and expect to be in a lower tax bracket once they retire, RRSPs beat TFSAs.<\/p>\n<p>\u201cFor most Canadians, RRSPs will beat out TFSA because most Canadians will be in a lower tax bracket when they retire than they were when working,\u201d said Golombek.<\/p>\n<section aria-labelledby=\"moreTopicLabel3276980727551971346370397477011456\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" this=\"\" couple=\"\" afford=\"\" to=\"\" leave=\"\" corporate=\"\" grind=\"\" before=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/retirement-60-gs0325.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=jESEkbcH63ZuQ6jGj4XT1Q\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/retirement-60-gs0325.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=jESEkbcH63ZuQ6jGj4XT1Q, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/retirement-60-gs0325.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=-_pp94WwqcgL7ct3LoozUQ 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/03\/retirement-60-gs0325.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=ntO87HU7Qx298IKVaHaAfg 3x\" alt=\"None\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Can this couple afford to leave corporate grind before 60?<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" do=\"\" i=\"\" reduce=\"\" taxes=\"\" now=\"\" that=\"\" my=\"\" spouse=\"\" has=\"\" died=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"Flexibility is key, but it has to be introduced earlier in your retirement planning, says Allan Norman. Too many people and their planners focus on the optimal plan, when it could well be that a slightly suboptimal plan becomes the best plan as life unfolds.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0221-mg-retire.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=04rXjrNbeFZ30HCCEPpZUQ\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0221-mg-retire.jpg?h=96&amp;strip=all&amp;quality=5&amp;sig=Um-z4PZh-4EqaYSC4qw8vw\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0221-mg-retire.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=04rXjrNbeFZ30HCCEPpZUQ, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0221-mg-retire.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=8Qm6CQTjqEThPbpck5QlPA 2x,&#10;                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2025\/02\/0221-mg-retire.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=dxtlAbZvf2kzZlo8VyWt-A 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">How do I reduce taxes now that my spouse has died?<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>The Conservatives have yet to release more details on their senior savings plan, including how it might be funded.<\/p>\n<p data-async=\"\"><em>\u2022 Email: slouis@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Here&#8217;s what the Conservative savings plan for seniors means<\/a><br \/>\n<br \/>2025-03-26 21:06:04<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Federal Election News Personal Finance Retirement Taxes Conservatives say they would allow working seniors to earn as much as $34,000 a year without paying income tax Published&#8230;<\/p>\n","protected":false},"author":2,"featured_media":57905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-57904","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=57904"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/57904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/57905"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=57904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=57904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=57904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}