Our older loved ones want to enjoy happy and fun-filled lives after retirement. But they will need to be financially secure to afford the comfortable lifestyle they desire.
Fortunately, several provincial governments in Canada have set up different financial benefits to support post-retirement life for older adults. In Alberta specifically, various benefit programs provide some relief to older people’s cost of living.
Seasons Retirement has several communities in Alberta, where we offer diverse living options to adult residents. In line with our focus on residents’ financial security, we’ve curated this piece to discuss the senior benefits Alberta has to offer.
Continue reading to learn about the financial benefits that your parents and grandparents can enjoy in Alberta.
Older persons are well cared for by the government of Alberta, and if you are wondering what benefits do seniors get in Alberta?’, you can find your answers below:
The Alberta Seniors Benefit is a scheme created by the government to provide financial assistance to older adults. This program pays a monthly stipend to older people based on factors such as marital status, accommodation, income, etc.
Before your loved one can apply for the Alberta Seniors Benefit, they must meet specific requirements. Below are the eligibility criteria for this benefit.
Also, specific income requirements must be met before your loved one may be eligible for the Alberta Seniors Benefit. The program’s officials will check if your older folk’s total income in the previous year qualifies them for the benefit. Then, they will determine their due monthly grant amount.
If your older loved one is eligible for the Alberta Seniors Benefit and is interested in taking advantage of the program, here are step-by-step guidelines to follow to apply:
Step One – Fill out the Seniors Financial Assistance application form
To complete this step, you may need to submit the following:
Step Two – Submit a photocopy of valid and verifiable means of identification such as driver’s license, birth certification, passport, etc.
Step Three – Submit the application form
You or your loved one can do this online via the Alberta Senior Financial Assistance portal or by faxing and mailing the form.
This group of Alberta seniors’ financial assistance focuses on providing health relief to older adults. It covers medical services like dental aid, optical aid, massage therapy, physiotherapy, etc. Consistent with other government financial aids, eligibility depends on your loved one’s income.
For the Dental Assistance for Seniors program, there is the provision of basic dental coverage to a tune of $5,000 every five years. It covers essential dental services like examinations, scaling/root planing, fillings, extractions, root canals, and dentures.
Meanwhile, the Optical Assistance for Seniors program offers up to $230 in financial aid to purchase prescription eyeglasses every three years. Also, annual optometry tests for older adults are covered by this benefit scheme.
Your loved one will need to contact the Department of Health and Social Services to find out if they are qualified for Alberta Blue Cross for Extended Health Benefits and to figure out how to apply.
The Senior Home Adaptation and Repair Program is one of Alberta’s senior benefits. It provides low-interest home equity loans to assist older people in paying for their home maintenance, repair, and renovation fees.
These repairs or upgrades must enhance energy efficiency in the home or improve the homeowner’s quality of life, at least.
The scheme offers a maximum amount of $40,000 in loan, which can be repaid upon the sale of the house or earlier by the homeowner. It is, however, essential to point out that monthly reimbursements are not required.
To be eligible for SHARP, these are the criteria and qualifications that your older loved one must meet:
It is worth mentioning that low-income individuals ineligible for the SHARP loan can apply for SHARP grants for seniors in Alberta.
To apply for this financial scheme, your loved one needs to fill out the Seniors Home Adaptation and Repair Program application form on the program’s website. After completing the application, they can proceed to mail the signed form to the SHARP’s office.
The following are other financial benefits that your parents and grandparents can enjoy in Alberta:
The Senior Property Tax Deferral Program provides older adults with low-interest home equity loans, allowing them to defer all or part of their property tax payments.
The Government of Alberta assists eligible candidates by directly paying their residential property taxes. Beneficiaries, however, are expected to pay back the loan with interest when they sell their property or earlier if they can afford to.
It is one of the senior benefits the Alberta government has set up to provide a one-time payout to older adults, assisting them in covering their health, personal, and household expenses. The maximum payout from this benefit is $5,105 per payment period.
The Alberta Government prioritizes the financial needs of older adults in the province. As a result, they’ve made sufficient financial provisions for your parents and grandparents to enjoy themselves and live their best life in retirement.
In addition to the government’s benefits, Seasons Retirement strives to offer the best living conditions for retired Albertans. Connect with us to learn more about how we help our residents enjoy their retirement alongside the benefits they receive.