Gerald Keddy, MP for South Shore - St. Margaret's, and John Morrison, Programs Consultant with Service Canada answer questions from the crowd following MP Keddy's announcement of changes to the Guaranteed Income Supplement (GIS). This change will provide an additional $1.8 million in GIS payments to over 3,000 working seniors in Nova Scotia.
FORTIES, NOVA SCOTIA — The Government of Canada is following through on its commitment to strengthen Canada’s public pension system and ensure that low income seniors keep more of their hard-earned money without a reduction in benefits.
Today, Mr. Gerald Keddy, Member of Parliament for South Shore–St. Margaret’s, on behalf of the Honourable Marjory LeBreton, Leader of the Government in the Senate and Secretary of State (Seniors), met with local seniors and service providers and announced changes to the Guaranteed Income Supplement (GIS) that will provide an additional $1.8 million in GIS payments to over 3,000 working seniors in Nova Scotia.
“Our government is committed to supporting seniors living on fixed incomes, and giving low income seniors who choose to work the financial flexibility they desire in retirement,” said Mr. Keddy.
“Today’s seniors are living longer and more active lives than ever before, and their participation in the labour market is growing,” said Minister LeBreton. “This positive measure will put money back into the pockets of thousands of low-income seniors who work.”
“I commend the Government of Canada for implementing this measure that will greatly benefit thousands of low-income seniors across Canada,” said Ms. Susan Eng Vice President of Advocacy, Canada’s Association for the Fifty-Plus (CARP). “Whether by choice or necessity, seniors are participating in the labour force in greater numbers than ever. This measure is a major step forward, and CARP encourages this government to continue to be proactive in providing seniors with increased security and flexibility in retirement.”
On July 1, 2008, changes came into effect increasing the GIS earnings exemption to $3,500 from $500. A single pensioner, for example, earning $3,500 or more, will be able to keep up to an additional $1,500 in annual GIS benefits.
The GIS is a monthly benefit provided to low-income seniors who receive the Old Age Security benefit, which is provided to all Canadians aged 65 and over who meet the residence requirements.
