[homeles_ot-l] FW: Homeless seniors and finances - new federal initiative

[Linda O'Neil]

FYI
Backgrounder
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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<http://www.servicecanada.gc.ca/eng/audiences/partners/thirdparty.shtml>.
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.

Linda O'Neil
Public Education Consultant, B. Journalism
Canadian Mental Health Association, Ottawa Branch
Association canadienne pour la santé mentale, Section d'Ottawa
301-1355 rue Bank Street, Ottawa, ON    K1H 8K7
613-737-7791  Ext. 135         Fax: 613-737-7644

Email: loneil at cmhaottawa.ca<mailto:lsmoore at cmhaottawa.ca>
Website: www.ottawa.cmha.ca<http://www.cmhaottawa.ca/>

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