Helping seniors make ends meet
Published Friday August 1st, 2008
Today`s seniors are living longer and healthier lives and many are continuing to work later in life than ever before. To address this reality, our government is making it easier for seniors who choose to keep working.
To make certain that low-income seniors who work can keep more of their own money, we're increasing the Guaranteed Income Supplement (GIS) earnings exemption to $3,500.
This means that, starting July 1, typical working GIS recipients will be able to keep more of their hard-earned money without any reduction in GIS benefits.
Through this change, we're encouraging labour market participation and providing support for low-income seniors. Budget 2008 and other recent federal initiatives are also addressing the needs of Canada's seniors through the introduction of a series of important measures.
The budget provides $13 million over three years to help seniors and others recognize the signs and symptoms of elder abuse and to provide information on what support is available and funds projects in hundreds of communities across Canada under the New Horizons for Seniors Program, helping seniors to bring their leadership, energy and skills to benefit our communities.
It also enables 1.6 million low-income seniors to benefit from increased monthly benefits available under the GIS and to make a one-time application for GIS. As long as they file income tax returns every year, these seniors will never have to re-apply.
It establishes the National Seniors Council to advise the government on issues of importance to older Canadians, provides more than $1 billion in tax relief each year to Canadian seniors through pension income splitting and enhancements in the age and pension income credits and enables seniors to build their retirement savings in Registered Pension Plans and Registered Retirement Savings Plans for an extra two years until age 71.
One thing our government will not do to seniors is impose a carbon tax on their fuel, home heating oil and electricity. Many seniors live on fixed incomes. A carbon tax would only reduce the ability of seniors to make ends meet.
To learn more about how our government is helping seniors, please visit www.seniors.gc.ca
I invite you to visit my website at http://www.robmooremp.com to keep up with developments in Ottawa. I also enjoy hearing from constituents and welcome your feedback and questions on issues important to you at moorer@parl.gc.ca.
* Rob Moore is MP for Fundy Royal. His column appears biweekly in Riverview This Week. To reach him, please e-mail moorer@parl.gc.ca.
More Health
Search Articles
More CE Network Sites & Partners:
