America is hostile towards poor retirees, how does Canada provide for retirement of seniors?

Question

America is hostile towards poor retirees, how does Canada provide for retirement of seniors?

Answer 1

In BC  we are  treated well  Medicare is $ 96.00 a month for two people  medications in come based Hospital free  We get a yearly bus pass $45.00  BC Ferries  Free  many retaurants have discounts  ..Example  In the last five years :::  A  Angioplasty   Emergeny ward for a fall full treatment x rays lab  Free taxi home.  I see  the dr, Twice a month  Close to 3 thousand year in meds Diabetes  Etc  My mother in a nursing home  with Alzhiemers   Little or no out out of pocket  .Ask uncle sam  Or Bro. Geo bush To beat that

Answer 2

Since when is our country "hostile" towards retirees? They get social security checks every month, plus many have pension plans, 401K's, retirement plans, etc... If they don't, that's their own doing by not thinking of their future and planning for it.

It's not like the government doesn't give them options.

Answer 3

A certain amount is taken off the paychecks for the Canada Pension Plan. This money will be distributed when someone retires. There is also an Old Age Benefit, provided by the government. These amounts depend on how long one has been in the workforce, how much was put into the Pension plan, and if one retires early or not(from age 55).

These amounts are usually not very much, which is why so many seniors now have to work at Walmart.

Answer 4

The Canada Pension Plan and the Quebec Pension Plan.  They work the same a Social Security and will both collapse in the near future because of all the boomers retiring at once.

Answer 5

America is not hostile towards retirees! It is however a totally

different system than here. Yes the system could stand some improvements but it's not a BAD system as it is written.

Answer 6

I am fortunate as I was able to retire in Canada at age 50 because I worked all my life in a provincial position that allowed me to retire with full pension after 30 years of service.  When I turn 60 my Canada Pension (CPP) will be added to my provincial pension, and when I turn 65 old age security (OAS) benefits will be added to that under a "blended formula".  For seniors with limited incomes, such as only the CPP and OAS, there are additional programs such as subsidized programs to help pay for dental care, glasses, and medications if needed.

It would not be very comfortable in most parts of Canada for one person to live on only CPP and OAS.  It would not be a lot of money.  It is doable for a couple, particularly if they own their own home.  Most Canadians also contribute to RRSPs while they are working, and there are tax incentives to do so.  This helps with retirement income.  If a spouse passes away, the sruviving spouse is entitled to a percentage of the departed's CPP as a surviving beneficiary.  The CPP also pays up to $2500 towards funeral expenses when a contributor passes away.

Seniors in Canada are not wealthy unless they have done good financial planning on their own and have accumulated the wealth during their working lives.  But there are opportunites - for example I can collect my provincial pension, and continue to work in a non-provincial job for a while and so improve my financial situation - basically have two salaries.  It is a comfortable to be able to choose to work sometimes, and not work sometimes, which is how I have been able to live for five years now.

I would never say that Canada is  hostile to retirees.

I hope this has been of some help.  Best of luck.