Listen Live

HomeNewsSaskatchewan increases Seniors Income Plan payouts, announces two forthcoming increases

Saskatchewan increases Seniors Income Plan payouts, announces two forthcoming increases

The Saskatchewan Government says regular payouts for the Seniors Income Plan will be increasing, impacting 15,000 retirees across the province.

The province announced Tuesday the monthly benefit will be going up to 300 dollars from $270 for single pensioners. For two-pensioner households, the payment will increase from $470 to $530. The minimum benefit is also increasing, from $10 to $15 per month.

The program is meant to be an add-on for seniors who receive little or no income other than the federal Old Age Security pension and the Guaranteed Income Supplement. It is an income-tested benefit, which means seniors receive different levels of support depending on the amount of their pension, taxable income or living arrangement. The benefit is higher for seniors with lower income, the province says.

Social Services Minister Lori Carr adds by increasing the benefit live more comfortably and securely as they continue participating in and contributing to communities across the province.

- Advertisement -

The province also plans to roll out two more increases of $30 apiece over the next two years. These will bring the number of increases the SIP has received up to 10 since 2008.

Eligible seniors automatically receive this benefit based on the filing of their most recent income tax return.

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading