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加拿大嬰兒潮一代是非常幸運的.  當退休,他們有老年保障,加拿大退休金計和保證,如果他們的收入很差低於CAD$12816/單, 或CAD$31056元/夫婦。


老年保障計劃(Old Age Security Plan)
加拿大人在65歲以上,居住在加拿大至少有10年.  全款是目前CAD$521.62,加拿大人在加拿大居住超過40年。

 如果你住在加拿大20年,那麼你只能享受20/40的總額。 它是CAD$260.81,這是50%。 每年將調整。


加拿大退休金計劃(Canada Pension Plan)
加拿大服務部 (Service Canada) 一旦收到正式確認你的最終就業或自謀職業收入和CPP供款從加拿大稅務部,金額每月退休金可能需要進行調整。 因此,他們無法計算出準確的養老金數額在時間的應用。 加拿大服務必須等到一個月的退休金開始,以確保所有可用的收入和捐款用於計算的數額的養老金。

如果你想知道更多關於加拿大退休金計劃和老年保障計劃,請訪問Servicecanada.gc.ca


保證收入補貼(Guarantee Income Security)
保證收入補助金提供
低收入老年人居住在加拿大的,在上面的養老津貼 ,低收入老年人居住在加拿大,必須接受養老津貼,並符合收入要求。

要獲得
保證收入補貼,你必須有資格領取養老金的老年保障。 也取決於你和你的配偶或同居伴侶合併收入


如何計算您的權益


下面的圖表顯示了最
的每月補助金。 例如,如果你是一個人,沒有其他收入,你的補助金CAD$533.99。 如果您有其他的收入,你的補充將減少-數額多少將取決於您收到的其他收入。


這些數額可能上升隨著時間的推移,以跟上通貨膨脹。

           GIS
上限          年薪上限
單人    CAD$533.99    CAD$12,816
夫婦:  CAD$533.99    CAD$31,056


GIS Maximum monthly GIS benefit Maximum income
Single person $533.99 $12,816
Couple:
one OAS pensioner
$533.99 $31,056
Couple:
both OAS pensioners
$347.82 $16,704
Couple:
OAS pensioner, other receives Allowance
$347.82 $31,056*
* The Allowance stops being paid when income exceeds $23,904, while the GIS stops being paid at $31,056.

Official website:

Related articles about OAS, CPP, GIS

This is a message from a boomer buddy.   I would like to share it with you.   Also, I would like you to forward to your friends.   Please remember we are all getting OLD and if we don't do something now right now, We never will.


As a raise last year, Seniors got 2/5 th of 1% on their Canada Pension and 0% on the Old Age Security.

The Canadian citizens who saved and created pensions are treated worse than those who arrived and seem to know how to get freebies from our system, like medical, pensions, bus passes, dental, medicals.........yet some have contributed little or nothing..........their funds are off shore or not existent..........is this fair?

HOW TRUE IS THIS!

We're "broke" & can't help our own Seniors, Homeless, Veterans, Orphans, etc. ?????

This is so pathetically true...in the last month we have provided aid to Haiti , Chile , and Turkey ..

Now Pakistan , the same people who will turn around and build the IED's that kill our troops.

Also another boat load of refugees has arrived from Sri Lanka who will get aid that should go to the CANADIAN people who have worked all their lives to make this the country it is today.


 
This year, over 8000 refugees that we know have snuck into Canada through ports and airports and all of whom will eventually get various aid from governments.


Our retired seniors living on fixed income receive no aid while our government and religious organizations pour hundreds of millions of dollars and tons of food to foreign countries.

We have hundreds of adoptable children who are shoved aside to make room for the adoption of foreign orphans.

Why are so many CANADIAN citizens, and the CANADIAN government, so star struck they won't provide for our own?

CANADA: a country where we have homeless without shelter, children going to bed without eating, elderly going without needed meds, and mentally ill without treatment - yet we have a benefit for the people of Haiti on 12 TV stations, ships and planes lining up with food, water, tents, clothing, bedding, doctors and medical supplies.

Imagine if we gave ourselves the same support that we gave all of these other countries.

I feel bad for them, but I also care about CANADA and our Seniors who developed this great country,only to be forgotten.                                

Sad isn't it?
99% of people won't have the guts to forward this. I'm not one of them.....

How about you??

    
 If  you are planning retirement, 
 let me share retirement experiences with you,
 which I hope will be helpful.
                   
    
Fifteen years ago my wife and I moved into a retirement development on Florida's Southeast coast - The Delray/Boca/Boynton Golf, Spa, Bath and Tennis Club on Lake Fake-A-Hatchee. There are 3000 lakes in Florida; only three are real. 

    

Our biggest retirement concern was time management.  What were we going to do allday?  Let me assure you, passing the time is not a problem.  Your days will be eaten up by simple, daily activities.  Just getting out of your car takes 15 minutes.  Trying to find where you parked takes 20 minutes. It  takes 1/2 hour on the check-out line in and one hour to return the item the next  day.  

    

Let me take you through a typical day.  We get up at 5:00 AM, have a quick breakfast and join the early morning 'Walk and Talk Club.'  There are about 30 of us, and rain or shine we walk around the streets, all talking at once.  Every development has some late risers who stay in bed until 6 AM. After a nimble walk avoiding irate drivers out to make us road kill, we go back home, shower and change for the next activity. 

    

 My wife goes directly to the pool for her underwater Pilateâs class, followed by gasping for breath and CPR.  I put on my, 'Ask me  about my Grandchildren' T-shirt, my plaid mid-calf shorts, my black socks and sandals and go to the clubhouse lobby for a nice nap. 

    

 Before you know it, it's time for lunch. We go to to partake of the many tasty samples dispensed by ladies in white hairnets.  All free!  After a filling lunch, if we don't have any doctor appointments, we might go to the flea market to see if any new white belts have come in or to buy a Rolex watch for $2.00. 

We're usually back home by 2 PM to get ready for dinner.  People start lining up for the early bird about 3 PM, but we get there by 3:45 PM, because we're late eaters.  The dinners are very popular because of the large portions they serve. You can take home enough food for the next day's lunch and dinner, including extra bread, crackers, packets of mustard, relish, ketchup and Sweet-and-Low along with mints..
    
At 5:30 PM we're home ready to watch the 6 o'clock news. By 6:30 PM we're fast asleep. Then we get up and make 5 or 6 trips to the bathroom during the night, and it's time to get up and start a new day all over again.

   
Doctor related activities eat up most of your retirement time.  I enjoy reading old magazines in sub-zero temperatures in the waiting room, so I don't mind.  Calling for test results also helps the days fly by. It takes at least half an hour just getting through the doctor's phone menu.  Then there's the hold time until you're connected to the right party.  Sometimes they forget you're holding, and the whole office goes off to lunch.

    
Should  you find you still have time on your hands, volunteering provides a rewarding opportunity to help the less fortunate.   Florida has the largest concentration of seniors under five feet tall and they need our help.  I myself am a volunteer for 'The Vertically Challenged Over 80.'  I coach their basketball team, The Arthritic Avengers. 


The hoop is only 4.5 feet from the floor.
You should see the look of confidence on their faces when they make a slam dunk. 
    

Food shopping is a problem for short seniors or 'bottom feeders' as we call them, because they can't reach the items on the upper shelves. There are many foods they've never tasted.  After shopping, most seniors can't remember where they parked their cars and wander the parking lot for hours while their food defrosts. 
   

Lastly, it's important to choose a development with an impressive name.  Italian names are very popular in  Florida .  They convey world traveler, uppity sophistication and wealth.  Where would you rather live?   Murray's Condos or The Lakes Of Venice ?  There's no difference.  They're both owned by Murray, who happens to be a cheapskate. 


I hope this material has been of help to you (current or) future retirees. If I can be of any  further assistance, please look me up when you're in Florida .  I live in The Leaning Condos of Pisa on  Boynton Beach . 

People would agree that Canadian boomers are pretty fortunate in terms of their retirement benefits.   When Canadians retire they are eligible to Old Age Security, Canada Pension Plan and Guarantee Income Supllment if they are very poor earning less than $12,816 as single or $31,056 as couple.  The following outline these benefits in details:


Old Age Security Program (OAS)
flag canadian.gifCanadians 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.


How to Calculate Your Benefits

Service Canada base the Supplement on your marital status and your annual income but do not count your OAS benefits. If you are married or living in a common-law relationship, we look at your annual income combined with that of your spouse or common-law partner.

The following chart shows the maximum monthly benefits for October to December 2002. For example, if you are a single person and you have no income other than your OAS, your supplement could be $533.99. If you have other income, your supplement will be less - the amount will depend on how much other income you receive.

You are not eligible for the GIS if you receive more than the "maximum income" shown. Remember, the maximum income does not include your OAS pension.

These amounts may rise over time to keep up with inflation.

GIS Maximum monthly GIS benefit Maximum income
Single person $533.99 $12,816
Couple:
one OAS pensioner
$533.99 $31,056
Couple:
both OAS pensioners
$347.82 $16,704
Couple:
OAS pensioner, other receives Allowance
$347.82 $31,056*
* The Allowance stops being paid when income exceeds $23,904, while the GIS stops being paid at $31,056.

In reality, among the low income Canadians, many of them are only eligible to OAS and CPP.  They are not able to have  GIS.  People are not qualified when  his/her individual yearly income is more than $12,816 as single or combined yearly income of $31.056 as couple.  I would use the following example to illustrate this common situation overlooked by lot of people:



Mary and John are married couple immigrated from China.   They stayed in Canada for 15 years already.    Now, Mary 's husband John retired upon 65.   Mary's yearly income is $33,000.  John's yearly income is $16,000.   The benefits John will get from Canada government are OAS and CPP only. He is not eligible for GIS because his single yearly income exceeds $12,816.   He will get 15/40 of the full OAS benefit amount of $521.62 which is $195.61 only.   HIs CPP benefit amount is based on his contribution during his employment.   If his CPP contribution is low his CPP benefit will be low.  In this example, John only has $168 as his CPP monthly benefit.    Hence, the monthly benefits for John is $195.61 plus $168.  That is $363.61 for each month of his first year retirement.   $363.61 per month is definitely not enough for John.   He may be better off if he is eligible to GIS which would top up his monthly guarantee benefit income to $1100 or above.   John 's situation is not too bad if he has a high income job with substantial CPP contribution.   However, John's low income at $13,300 per year plus the fact there is no pension plan from his employer made John 's retirement very tough...  living in poverty. 


In the next following year, John financial situation is no better.   He would live on his OAS, CPP without any employment income.   At this moment though his year income is under $12,816 as a single earner,  his combined yearly income with Mary  still exceeds $31,056,  hence John will get more or less the same benefits from OAS and CPP.    This situation will remain until Mary also retired so the couple do not have any employment income.   Then, both of them would be eligible for OAS, CPP and GIS.


Now, my Canadian friends beware and be prepared when you are still young and have plenty of time on your side.   Who will be the new PM for Canada in the forthcoming May 2011 election?   The New Prime Minister needs to do something for the poor boomers and seniors.     Guys, have your thought on this and have a good day.           

 


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