Saturday, 12 August 2017

NWT ECE Minister confirms policy ignoring elders’ federal right to choose

NWT ECE Minister confirms policy ignoring elders' federal right to choose
NWT Income Assistance recipients forced to take their CPP at 65 depriving seniors of an estimated 42% of their pension for the rest of their lives.
"..Thank you for bringing forward concerns on behalf of your constituent and their questions about accessing Canada Pension Plan (CPP) and Old Age Security (OAS) benefits as an Income Assistance (IA) client. As you know, IA provides financial assistance to Northerners to meet their basic and enhanced needs to help people to make choices that are right for them, according to their personal circumstances, efforts, abilities, aspirations and health.
In accordance with the IA Regulations, applicants are not required to access pension benefits before s/he attains the age of 65 years. However, at age 65, IA applicants are required to apply for CPP benefits, which helps ensure Northerners are self-reliant as individual capacity allows and have sufficient resources to meet their needs. As a program that supports those most in need, it is essential that IA applicants apply for other financial resources that they may be eligible for in order to ensure they are accessing all income that is available to them. The Department is not considering a review or amendment of the current IA legislation at this time, but I can assure you that we will follow up with Income Security Programs (ISP) staff to ensure program requirements are clear and well-communicated with IA applicants.
According to Employment and Social Development Canada (ESDC), applicants can begin receiving their CPP benefits at age 65. However, recipients can take a reduced CPP retirement …" Text via @Julie Green MLA Yellowknife Centre on Feb 27th, 10:04am text via Facebook Messenger from the Minister of ECE

"..Taking your pension after age 65 - If you take your pension late, your monthly payment amount will increase by 0.7% for each month after age 65 that you delay receiving it up to age 70 (8.4% per year).
This means that, an individual who starts receiving their retirement pension at the age of 70 will receive 42% more than if they had taken it at 65. […] There is no financial benefit in delaying taking your pension after age 70."

George A Lessard
Yellowknife, NT
Cell/text/📱/FaceTime / WhatsApp # +1(867) 445-9193
Information Curation, Communication & Media / Cure d'information, communication et medias /
Skype: themediamentor
Canada Without Poverty board member for the NWT 
Taxpayers' Ombudsman's Consultative Committee Member / Government of Canada

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