Canada Invests $29.9M to Boost Retirement Savings for Personal Support Workers

The Canadian federal government is investing over $29.9 million to help personal support workers build retirement savings through the Personal Support Worker Retirement Savings Innovation Program pilot, managed by Common Wealth Pension Services Inc. This 24-month initiative aims to enroll more than 5,000 eligible personal support workers, many of whom are women, immigrants, or racialized individuals, and build over $40 million in retirement savings by offering incentives to open accounts and matching contributions. The program is designed to enhance financial security for workers in the care sector, improve workforce retention, and strengthen long-term care services. Minister Patty Hajdu emphasized that a strong economy relies on a thriving care sector and that this funding supports workers in building a financial safety net and retiring with confidence. The effort has been supported by unions such as SEIU Healthcare, which highlighted the importance of retirement inclusion and financial security for homecare workers. The initiative reflects the Canadian government's broader commitment to improving long-term care and working conditions for personal support workers.