Federal Bill C-38, the Jobs, Growth and Long-term Prosperity Act, SC 2012, c.19 received Royal Assent on June 29, 2012.
This omnibus Bill includes legislative changes to the Employment Insurance Act, the Canada Labour Code, the Old Age Security Act, the Canada Pension Plan, the Wage Earner Protection Act and the Employment Equity Act. These changes will implement various provisions of the most recent federal budget, including amendments to the Old Age Security Act and the Wage Earner Protection Program.
The amendments to the Old Age Security Act provide that from April 2023 to January 2029, the age of eligibility for old age security and guaranteed income security benefits will gradually increase from 65 to 67 years of age.
The Wage Earner Protection Program will have an additional $1.4 million dollars allocated to it each year for the purpose of speeding up the processing of claims under the program.