Canadians at sixty five are eligible for the following retirement benefits from the Canada Government. For these benefits Canadians have to apply. Per the advice of Service Canada, I submitted my applications six months before my 65th birthday giving the government ample time to process these applications.
Before I submitted my applications to Service Canada, I called CICS to book an appointment with one of their councillors. I met her at CICS Scarborough office. She explained in details and helped me to fill in those application form for OAS and CPP. Before I left her office, she reminded me to hand in the completed forms personally at Service Canada situated at Scarborough Civic Center. There I was interviewed by the Service Canada personnel going through the applications details slowly. I brought with me for the interview officer the original documents for Canada Landing Paper, Citizenship Card, Marriage Certificate and Birth Certificate. She made photocopies, signed dated and endorsed them as certified true copies. The officer told me that the Marriage Certificate was not required for OAS and CPP application. It is required for the GIS application. Now I got mails from Service Canada informing me that both applications are approved.
For the GIS application, simply fill in the form which Service Canada will mail you following the approval of OAS & CPP. You just mail the completed form with signature and a certified copy of the marriage certificate if you are married. I asked my family doctor to certified my Marriage Certificate. Meanwhile I am awaiting the reply from Service Canada regarding my GIS.
Old Age Security Program (OAS)
Canadians at age 65 and over, live in Canada at least 10 years are qualified for this Old Age Security Program. The full amount of this benefit is currently at CAD$521.62 and this is qualified Canadians who have lived in Canada over 40 years. If you live in Canada say 20 years, then you are only entitled to 20/40 of the total amount. It is CAD$260.81 and that is 50%. The rate and payment will be adjusted each year in line with the cost of living increases.
Canada Pension Plan (CPP)
This is based on your contribution to CPP during your employment in Canada. Service Canada once received official confirmation of your final employment or self-employment earnings and CPP contributions from the Canada Revenue Agency, the amount of your monthly pension may need to be adjusted. Therefore they cannot calculate the exact amount of your pension at time application. Service Canada must wait until the month your pension starts to ensure that all of the available earnings and contributions are used in the calculation of the amount of pension.
If you would like to know more about the Canada Pension Plan and Old Age Security Program, please visit Servicecanada.gc.ca
Guaranteed Income Supplement (GIS)
The Guaranteed Income Supplement provides additional money, on top of the Old Age Security pension, to low-income seniors living in Canada. To be eligible for the GIS benefit, you must be receiving the Old Age Security pension and meet the income requirements.
To qualify for the GIS, you must be eligible for the Old Age Security pension. Eligibility also depends on whether the combined income of you and your spouse or common-law partner, if you have one, exceeds a specific amount.
On July 1, 2008, an amendment to the Old Age Security Act came into effect increasing the GIS earnings exemption to $3 500 from $500. A single pensioner, for example, earning $3 500 or more, will now be able to keep up to an additional $1 500 in annual GIS benefits.
Ontario Drug Benefit (ODB) Program
A congratulation letter was received recently from Ministry of Health. It informed me on the first day of the month after I turn 65 I shall become eligible to have most of the cost of my prescription drugs covered through the ODB Program
What I need to do is take my prescription and my Ontario Health Card to any pharmacy in Ontario. Tell the pharmacist that I am eligible to receive benefits through the ODB Program. The pharmacist will confirm this through the government's Health Network System.
Consult the Old Age Security Payment Rates for current benefit rates and maximum income levels.
I trust the above information is useful. Anyway, as a friendly reminder check out Service Canada for more details and updates. Have a good day and a very nice weekend!
Good post. I be taught one thing tougher on totally different blogs everyday. It will all the time be stimulating to read content material from other writers and follow a little bit one thing from their store.
When I originally commented I clicked the "Notify me when new comments are added" checkbox and now each time a comment is added I get several e-mails with the same comment. Is there any way you can remove people from that service? Thanks a lot!