LIFE LETTER MATURE
Government benefits can boost retirement income
In a 2010 report to the Minister of Finance, it was found that approximately 160,000 Canadian seniors were not aware of the full range of benefits they were entitled to in their retirement years. In fact, nearly $1 billion in retirement benefits from the Canada Pension Plan (CPP), Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) have not been paid out to eligible recipients.
According to the Service Canada website, seniors may qualify for a number of income supplement programs that would help them make ends meet, including:
One reason so many benefits remain unclaimed is that the responsibility to apply for benefits is placed on the citizen. Additionally, we are responsible to notify Service Canada of any changes to address and country of residence.
Government benefits are something you've paid for by direct contributions and payment of income tax. Don't give them away.
Maximize retirement income – because it’s the right thing to do.
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