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Retirement
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Retirement
Right Access benefit Ltd. is dedicated to assisting seniors apply for eligible retirement benefits.
The followings steps will take place:
Complete all the necessary forms and applications.
Submit the applications and the documents.
Gather all necessary documents.
Follow up with Service Canada on behalf of you.
The Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) is a retirement pension program run by the Canadian government. It is funded by contributions from both employees and employers and provides a monthly benefit to eligible individuals who have reached retirement age (currently age 65). CPP benefits are also paid to disabled contributors and to the surviving spouses or children of deceased contributors. The amount of the benefit is based on the contributor’s earnings and the number of years they have contributed to the plan. In British Columbia, as in the rest of Canada, CPP is mandatory for most workers.
To be eligible for Canada Pension Plan (CPP) benefits, an individual must have made contributions to the plan while they were employed. There are some specific eligibility criteria that must be met, including:
The individual must be at least 60 years old.
Submit the applications and the documents.
The individual must have made at least one valid contribution to the CPP.
To apply for CPP benefits, an individual can apply online through Service Canada or in person at a Service Canada office. The following documents are required:
A completed Application for a Canada Pension Plan Retirement Pension form (ISP1000)
A valid Social Insurance Number (SIN)
Proof of age (such as a birth certificate or passport)
Your bank account information for direct deposit.
It is also important to note that it is possible to take CPP as early as age 60 with reduced benefits or as late as age 70 with increased benefits.
The Guaranteed Income Supplement (GIS)
The Guaranteed Income Supplement (GIS) is a monthly financial aid provided by the government of Canada to assist low-income seniors who are receiving the Old Age Security (OAS) pension. GIS is designed to help seniors with the cost of living, and the amount of benefit is determined by the senior’s income and marital status.
To be eligible for the GIS, you must:
Be a Canadian resident who has lived in the country for at least a decade after turning 18
Have an annual income that falls below the limit set by the government, which is subjected to an annual review.
Currently receiving Old Age Security (OAS) pension
It is important to note that GIS is a taxable benefit and should be reported on one’s income tax return. The eligibility requirements and amount of GIS can vary and change over time, so it is advisable to check with the government website or a local office for the most current information.
The Guaranteed Income Supplement (GIS)
This program is an income for seniors aged 65 and older. The amount you receive depends on the years you have lived in Canada. You can receive this pension even if you have never worked or are still working.
Eligibility
If you are living in Canada, you must:
- be 65 years old or older.
- be a Canadian citizen or a legal resident at the time we approve your OAS pension application.
- have resided in Canada for at least 10 years since the age of 18.
Other Situations:
- If you lived in Canada for less than 40 years (after age 18) you will receive a partial payment amount. Your payment amount is based on the number of years in Canada divided by 40.
Maximum monthly payment that you could receive:
Age 65 to 74: $687.56 monthly with annual income of less than $129,757
Age 75 and over: $756.32 monthly with annual income of less than $129,757
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- 206 - 2030 Marine Drive, North Vancouver, BC V7P 1V7
- 604) 767-6989
- info@accessbenefit.ca
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