Seniors in need of financial assistance have received a boost from the Government of Saskatchewan.
The maximum monthly benefit provided by the Seniors Income Plan (SIP) increased by $ 30 per month effective July 1.
The benefit increased from $ 270 per month to $ 300 per month for single retirees and from $ 470 per month to $ 530 per month for a household of two retirees.
The minimum benefit will be reduced from $ 10 per month to $ 15 per month.
“Our government is delivering on its commitment to improve the quality of life for seniors by increasing the Seniors Income Plan,” said Social Services Minister Lori Carr. “This additional money will help Saskatchewan seniors live more comfortably and safely while continuing to participate and contribute to communities across the province.”
The maximum SSP benefit will increase by an additional $ 30 each year for the next two years. The provincial government has made six pre-SIP increases since 2008.
Saskatchewan’s Seniors Income Plan provides seniors with financial assistance to help them meet their basic needs. The monthly benefit is available to seniors who receive little or no income other than the federal Old Age Security pension and the Guaranteed Income Supplement. Eligible seniors automatically receive this benefit based on the filing of their most recent income tax return.
SSP is an income-tested monthly benefit, which means that seniors receive different levels of support depending on the amount of their pension, their taxable income or their lifestyle. The benefit is higher for low-income seniors.