Government sources of funds for seniors

Seniors whose income stream consists of government and private pensions, as well as investments made over their working lives may also qualify for other government sources of income or subsidies such as the guaranteed income supplement, survivor pension, disability allowance or veterans benefits.

• The Guaranteed Income Supplement (GIS) might be applicable if a senior’s income is low – the maximum is $638/month. GIS must be applied for annually via the tax return. Qualifying for the GIS is based on income, not assets. Details for all government pensions can be found at the Service Canada website, www.servicecanada.gc.ca.
• Survivor Pension CPP payments that a retired spouse receives will cease upon his or her death. The remaining spouse should apply for the Survivor Pension, via Service Canada, which is a monthly payment based on 60% of the deceased’s CPP payment.
• Disability Allowance Health conditions such as macular degeneration may qualify a senior for a disability allowance on their income tax. The senior would require a form T2201 E, found on the Canada Revenue Agency’s website, www.cra-grc.gc.ca, to be completed by the doctor. This would allow the senior to write off certain expenses for care, equipment and related medical costs.
• Veterans’ Benefits A senior who is an overseas veteran, may be eligible for many services such as care, housekeeping, yard work, transportation and, if necessary, burial costs via the Last Post Fund – see www.veterans.gc.ca..

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