Stumble Upon

del.icio.us

Digg

Facebook

Print

Email

Speak Up

Seniors are living longer and healthier lives and shouldn't be punished for supplementing their pension income with extra cash, Mike Allen, Tobique-Mactaquac MP, stated while announcing changes to the Guaranteed Income Supplement plan in Grand Falls last week.

Enlarge Photo

"Today our seniors are very healthy people and live longer. They want to be as active as possible in our community. Even more, some of our seniors are always disposed to work, especially in our agriculture region where farmers are short of manpower during the potato planting and harvesting seasons. Their services and experience are much needed and at the same time, with these new changes, they could earn some extra money," Allen said. The changes to the GIS will provide an additional $1.7 million in GIS payments to about 2,800 working seniors in New Brunswick.

On July 1, 2008, changes came into effect increasing the GIS earnings exemption to $3,500 from $500. A single pensioner, for example, earning $3,500 or more, will be able to keep up to an additional $1,500 in annual GIS benefits.

The GIS is a monthly benefit provided to low-income seniors who receive the Old Age Security benefit, which is provided to all Canadians aged 65 and over who meet the residence requirements.

"I commend the Government of Canada for implementing this measure that will greatly benefit thousands of low-income seniors across Canada," said Susan Eng, Vice-President of Advocacy, Canada's Association for the Fifty-Plus (CARP). "Whether by choice or necessity, seniors are participating in the labour force in greater numbers than ever. This measure is a major step forward, and CARP encourages this government to continue to be proactive in providing seniors with increased security and flexibility in retirement."

Approximately 100,000 Canadian GIS and Allowance recipients with employment income will benefit from this improved measure.