Benefits to Senior Immigrants in Canada
Canada provides benefits to Senior Immigrants
Immigrants coming to Canada live here for decades and even till the last day. According to a report 29% of the population is in the range of 65 to 74 years and those aging between 75 to 84 years were immigrants in 2001.
Seniors comprise 3.4% of recent immigrants. Immigrants reside mostly in urban areas. In 2006 more than 50% of the immigrant seniors live in Toronto, Vancouver or Montreal.
64% of the senior citizens come from Europe while 23% are from Asia.
According to a survey in 2003 26% of recent Immigrant seniors belong to low income group.
Old Age Security Pension (OAS)
This pension plan is available to most people 65 or older who meet the requirements of residence. The applicant must have stayed in Canada for a minimum of 10 years after the age of 18. The amount of pension is decided according to the number of years of residence in Canada.
Guaranteed Income Supplement (GIS)
This scheme supports low income seniors living in Canada by providing them additional money. One can be eligible for GIS only if he has been enjoying the benefits of OAS and meet some requirements.
Canada Pension Plan (CPP)
This is based on contributions on earnings and it is a social insurance program. Somebody who has made a minimum of one valid contribution to the CPP will be eligible to receive a monthly retirement pension plan. There is a provision to enjoy the pension from the month following the contributor’s 60th Birthday. This is possible only if the necessary documents are submitted and application is completely filled.
Immigrants face disadvantages in the Canadian pension system. Pension can be enjoyed only if the criteria of residency are fulfilled and depositing the pension amount is another challenge for them.
In spite of adequate support about 45% of near retirees feel that there preparation for retirement was inadequate.
About 60% of the Immigrants coming to Canada after 1970 have enjoyed the benefits of GIS since 2004. Immigrant women enjoyed more benefits than immigrant men out of the GIS scheme.
Immigrants coming to Canada keep working for their survival through their lives. At the same time they wonder about their old days and look for ways to be independent even during those last few years.
Canada provides enough support to them to lead a happy life even in the ripen age.