It is important to look at how seniors are aging and the impacts they're facing as they age. We know that they're more likely, as they age, to outlive their savings, to have disabilities, to be unable to work and to be widowed, and all the while their health care costs will rise. That is why we reaffirmed our commitment to increasing old age security by 10% for seniors aged 75 and older. It will bolster the financial security of over three million seniors and lift 25,000 seniors out of poverty. Two-thirds of them are women.
We know that seniors built our country, and they deserve to live a retirement of dignity and security. That is why we're focusing on seniors who have more needs, namely those who are 75 and over.