Edith Bywater, 83, answered the door to two men dressed in smart blue trousers and jackets and claiming to be detectives.
They said her neighbours had reported seeing burglars breaking in and they had been sent to investigate.
When she doubted their story, one of them pushed past her, saying: "While we are standing here, they are robbing you."
Mrs Bywater followed the men upstairs on her stair lift and found them rooting through her possessions.
The men eventually discovered a bundle of cash in £10 and £20 notes in her handbag and made their escape with their victim powerless to intervene.
The money had been saved over several months by Mrs Bywater, who planned to travel to Canada to visit her eldest grandson and his wife, who are expecting their first baby.
"I have been saving the money in my own way from my pension," she said. "I was hoping to go to Canada but I won't be now."
Mrs Bywater, who suffers from rheumatoid arthritis and osteoporosis and has fought a battle against cancer, said the robbers were "swines" and urged the public to help bring them to justice.
When the men initially pressed the buzzer on the intercom of her Wythenshawe home, one of them said his name was Paul, which is the name of her grandson.
The men were both white, about 6ft, slim and in their late 30s. They spoke with local accents.
The first man who pushed his way upstairs is said to have had short hair and a long slim face.
Dc Andy Worthington from Hall Lane CID said: "This incident was terrifying for Edith. For this to happen to an elderly lady who was looking forward to Christmas is despicable.
"We need to catch the people responsible as soon as possible."
The conmen struck at 5.10 pm on Christmas Eve.
Anyone with information is asked to contact Hall Lane CID on 0161 856 4952 or Crimestoppers anonymously on 0800 555 111.
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