Government grants and supporting programs for seniors who live in residences
An elderly relative, or even yourself, are thinking about moving to a seniors’ residence ? In front of this decisive event in a lifetime, it’s totally normal to have a lot of questions. A recurring issue is the fear of not being able to afford to live in a residence for the elderly. Good news is that there are many government grants available to help older adults who decide to live in seniors’ residences. Are you familiar with these different grants ? Let’s discover together what needs to be known about those supporting programs. With these sources of financial assistance, concerns may be reduced. This way, it can be easier for you, or your elderly loved one, to enjoy life in the best senior residence for you and focus on what is the most important.
Various government grants : which ones to keep in mind ?
Several supporting programs exist to help elderly citizens. Some are offered by the federal government and others by the provincial government. With the help of those grants, many seniors can now afford what really is the most important : their health and wellness.
Wondering why such financial support is so important to seniors ?
- So they can take the decision to move in a residence for the elderly without having too much financial stress ;
- It allow them to receive the care they really need ;
- This way, it’s possible to enjoy home care services for their well-being ;
- To compensate for the loss of autonomy of some seniors.
Therefore, here are the most relevant grants for seniors who live in residence !
Old Age Security pension
This first one is a very important supporting program from the Government of Canada. The Old Age Security pension (OAS) allows all Canadian seniors, 65 years old and more, to receive a payment every month. This monthly benefit can be a considerable help to pay the rent of the seniors’ residence for example. The amount of the Old Age Security pension depends on how many years you have lived in Canada in your life. If you have been living abroad for a period of time, we would recommend you to check with Service Canada to be sure about what is the amount you will be able to receive. It is important to know that this grant is a taxable income. For some seniors with higher income, an adjustment of the amount is also possible.
Interesting fact about this supporting program for seniors
Even if you are still on the job market, this financial assistance is for you ! Obviously, the same is true for retirees. It is interesting to note that some persons are automatically registered to this program while others need to apply to receive their Old Age Security pension. Here is some precious information about this application process.
- Be 65 years of age (or older) ;
- To be a Canadian citizen or a legal resident ;
- Have resided in Canada for at least 10 years, since you are 18 years old (or 20 years if you no longer lived in Canada on your 65th birthday).
If you need more information about the Old Age Security pension, for yourself or an elderly family member, we recommend you to visit the Government of Canada website. If needed, a counsellor from Visavie may also assist you to find the right contacts.
Guaranteed Income Supplement : another helpful government grant for seniors
Also offered by the federal government, these benefits allow seniors living in Canada to receive a monthly payment. This financial help exists to complement the Old Age Security pension. To receive your payment from the Guaranteed Income Supplement (GIS), it is even a prerequisite to already be an Old Age Security pensioner.
What is important to know ?
- The amount you will receive from the Guaranteed Income Supplement is variable. It is based on your annual income (and the one of your spouse or common-law partner) ;
- The payment can be adjusted if the cost of living increase during the year ;
- The benefit you will receive from the GIS can be paid by cheque or direct deposit.
- Be 65 years of age or older ;
- Live in Canada ;
- Already be registered to the Old Age Security pension.
You are curious to know how much you could receive from the Guaranteed Income Supplement ? The Government of Canada website is a very helpful resource for that. Also, your accountant or financial planner can of course advise you well about that. It can be tricky when it comes to finance. So make sure that you, or the elderly relative you take care of, are well surrounded to help you with those questions.
You have no idea who to contact ? Through our valiant counselors, our mission at Visavie is to always be there to accompany seniors and their families. They will also help you have a better understanding of all the Government Grants your loved one can get. Don’t be shy to contact us, it will be a pleasure to help you !
Canada Pension Plan retirement pension
Another very important government grant is available for Canadian seniors : the Canada Pension Plan retirement pension (CPP). The purpose of this financial aid program is to replace, when it’s time for retirement, a part of the income you had while working. The monthly payment received from this pension is then influenced by your average earnings received during your active working life.
What you must remember
- The Canada Pension Plan retirement pension is there to replace a portion of the incomes you had ;
- The amount will be different depending on the age at which you will retire (between 60 and 70 years old) ;
- To receive this retirement pension, you have no choice but to apply. You can use online application services, send paper forms by post or go directly to a Service Canada Centre.
Do you qualify for this grant ?
Eligibility criteria for this government supporting program are quite simple :
- have reached the minimum age of 60 ;
- to have contributed before to the Canada Pension Plan (at least for one valid contribution).
Shelter Allowance Program
Shelter allowance program is a financial support provided by the provincial government in Quebec. It is intended to persons or families with lower incomes. This program is there to facilitate access to housing for adults older than 50 years old. This grant allows eligible individuals to receive financial compensation to help them pay their rent.
Eligibility for this Government of Quebec grant
To qualify for this assistance program, few criteria must be met :
- you (or your spouse) must be at least 50 years old ;
- too much of your budget is allocated to pay your rent.
What about this supporting program ?
Homeowners, tenants and even rooming house occupants are all eligible to the Shelter Allowance program. This payment is done monthly and can reach a maximum of 100$/month. If you think that you, or an elderly relative, can benefit from this grant, it is recommended to contact Revenu Québec in order to receive the correct form to complete (not available online).
Tax credit for home-support services for seniors : a very helpful aid program
Government Grants are very helpful and the last one we will discuss in this article is the tax credit for home-support for seniors. This program is very useful for many seniors. With this assistance program, elderly can enjoy home services and home care. Such support allows seniors to live a better life and to stay healthy and independent for a longer period of time.
Is this grant available for seniors in residence ?
Good news ! The answer is yes ! This aid program is not only for seniors staying at home. You, or your elderly family relative, are living in a residence for elderly people ? Then, you may be eligible for this tax credit ! After all, that is why a seniors’ residence can also be called a retirement home.
The amount that you will receive is determined by the home care services you get but also those that are already included in the rent you pay at the residence. You still don’t know if you should stay at home with some help or move into a retirement home ? Our team, at Visavie, is always available to assist you and answer your questions. We will make sure you, or your elderly parent for example, will choose the best living environment.
Are you eligible for this supporting program ?
To qualify for this tax credit for home-support services for seniors, you must meet two criteria :
- be 70 years or older ;
- live in the province of Quebec on December 31 of the year when you apply for this tax credit.
Which home care services can be claimed ?
There is a pretty comprehensive list of home care services that can be claimed for this tax credit. Here are some examples :
- nursing care and other home health care ;
- feeding assistance ;
- delivery services or meal preparation ;
- help with dressing and toileting ;
- housekeeping services ;
- and even more according to the specific needs of each senior.
Did you know that ?
For quality home care services, you can rely on the judicious advice and the human care of our caregivers at Visavie. You would like to ask more questions ? It’s perfectly normal ! Our friendly Visavie consultants will be more than happy to assist you and help the best they can.
Among all those government grants for seniors in residence, chances are good that you will find at least one program that will help your situation. It can be for you personally but it can also be for a loved elderly relative that you take care of. In any case, do not hesitate to apply to those government supporting programs. Such financial assistance is there specifically to help elderly people, across Quebec and Canada, to live a more peaceful and healthy life.
You are looking for more information about all those government grants ? Several resources are available to you. Revenu Québec and the Government of Canada websites contain relevant data about those aid programs. Of course, you can also refer to professionals such as your accountant or financial planner. Through all this, if you are looking for more advice and personalized assistance, Visavie is always there for you ! Our team is committed to helping seniors and their families with a human and authentic approach. Be curious, discover who we are and what we can do to help you !