Minister Wong announces new initiative to help vulnerable seniors receive CPP and OAS benefits
VANCOUVER, Jan. 16, 2015 /CNW/ - The Honourable Alice Wong, Minister of State (Seniors), today announced the launch of a new initiative to work with community organizations to ensure seniors receive their retirement benefits.
Minister Wong renewed the Government of Canada's commitment to reach the most vulnerable seniors, such as those who are incapable of managing their own affairs while they are homeless or at risk of being homeless. The Government is undertaking targeted efforts, by working with community organizations, to increase their capacity to assist these seniors and ensure they receive the Canada Pension Plan (CPP) and Old Age Security (OAS) benefits for which they are eligible. These seniors can now receive their CPP or OAS benefits through an appropriate community organization, including non-profit or charitable organizations, and municipalities.
The announcement was made at Vancouver's Union Gospel Mission, which provides outreach services to vulnerable residents. Services include emergency shelter, meals, education and job preparation, affordable housing and preventative programs to build healthy families.
Quick Facts
- The Government of Canada is committed to the well-being of Canada's seniors by working with all levels of government, seniors' organizations and stakeholders to develop policies and programs to support seniors.
- The OAS program and the CPP enhance the quality of life of Canadian seniors by providing a modest base upon which to build additional income for retirement.
- The OAS program is funded through general tax revenues and provides a basic monthly income for Canadian seniors. In 2013–14, approximately $41.8 billion in OAS benefits were provided to 5.4 million individuals.
- The CPP (or the Quebec Pension Plan in Quebec) is funded through contributions by Canadian workers, their employers and the self-employed and through investment earnings on the Plan's funds. In addition to retirement benefits, the Plan provides disability, death, survivor and children's benefits.
Quotes
"The Government of Canada is dedicated to reaching seniors to ensure they receive the CPP and OAS benefits for which they are eligible. We are working with other levels of government, communities and organizations to help the most vulnerable seniors, particularly those who are not able to manage their own affairs while they are homeless or at risk of being homeless."
– The Honourable Alice Wong, Minister of State (Seniors)
"In light of the growing number of homeless and vulnerable seniors in our community, this announcement couldn't come at a better time. We are pleased that the Government of Canada has not only recognized this troubling problem, but that it has taken strategic action. Union Gospel Mission helps hundreds of seniors each year, dozens of whom had barriers to accessing pensions and disability funding; this initiative will enable additional organizations to more widely and effectively assist one of Canada's most cherished resources—our seniors."
– Dan Russell, Director of Programs, Union Gospel Mission
"This is a really valuable tool to help front-line organizations ensure vulnerable seniors can access critical financial resources. Being able to access Canada Pension Plan and Old Age Security benefits can make all the difference in the world to a low-income senior."
– Tim Richter, President & CEO, Canadian Alliance to End Homelessness
Associated Links
Backgrounder
Third-party administration of Canada Pension Plan and Old Age Security benefits
The Government of Canada is committed to reaching the most vulnerable seniors and ensuring they receive the Canada Pension Plan (CPP) and Old Age Security (OAS) benefits for which they are eligible.
Non-profit and charitable organizations and municipalities can apply to act as administrators of CPP and/or OAS benefits for seniors who are homeless, or at imminent risk of being homeless, and who are incapable of managing their own affairs. This will apply only in cases where the Minister of Employment and Social Development is not aware of the existence of another person or agency already authorized to manage the individual's financial affairs.
To find out if an organization or municipality qualifies as a third-party administrator, or to apply to become one, visit servicecanada.gc.ca.
Canada's public pensions
Canada's public pensions have played a major role in reducing the incidence of low income among seniors, from 21.4 percent in 1980 to 5.2 percent in 2011. Canada now has one of the lowest rates of low income among seniors in the world.
The CPP is a stable, well-designed plan that is portable from province to province and fiscally sustainable over the long run. The Chief Actuary of Canada has confirmed that the CPP is financially sound and is fully sustainable for generations to come.
The OAS is funded through general tax revenues and provides a basic monthly income for Canadian seniors. The GIS and the Allowances provide additional income to low-income pensioners, their spouses or common-law partners, and eligible survivors.
SOURCE Canada's Economic Action Plan
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