Paying for Care in Canada | The Basics
Mar, 21, 2021
Senior Care can be tricky and complicated. If you or your loved one is a retired senior or is preparing for retirement, it’s crucial to know your options for you to retire with ease and security. Thankfully, there are financial assistance programs from the government that can help you boost your retirement income. In this section, we’ll discuss the available financial help for seniors towards a retirement you can fully savor without worrying about falling off short on your finances.
Who Pays for Care?
There are federal government benefits for seniors that you can take advantage for a more financially secured retirement. Options such as federal grants for seniors in Canada, federal government benefits for seniors, and provincial grants for seniors, are just some of the well-funded programs in the country to help you have a steady retirement income.
To name a few, you can be eligible for some programs if you pass particular criteria and requirements as a senior living in Canada. Government financial assistance for seniors like Old Age Security Pension (OAS), Canadian Pension Plan Retirement Pension (CPP), Guaranteed Income Supplement (GIS), Allowance Program, and Allowance for the Survivor are just a few of the benefits that you can choose from.
There are also other financial resources for seniors to receive such as pensions, War Veterans Allowance (WVA), mortgages, tax refunds, rebates, and more, which you can benefit from after retirement.