Recently, Canadian Prime Minister Justin Trudeau stated that the Liberal government will fulfill its promise made during the federal election to increase the Old Age Security benefits for seniors.
According to reports, Trudeau told a radio station in St. John's, Newfoundland and Labrador: "We know that people are living longer and are concerned that their retirement savings may run out before they expect. We need to take care of this, and we made this promise, and we will keep it." During last year's campaign, Trudeau promised that if the Liberal Party is re-elected, the Old Age Security benefits would be increased by 10% once seniors turn 75, which amounts to an additional CAD 729 per year.
At the same time, the Liberal Party also stated that they would increase the survivor benefits under the Canada Pension Plan by 25%, which they estimate could provide up to CAD 2,080 in additional benefits per year for eligible individuals.
In May of this year, the federal government announced an additional CAD 2.5 billion in funding for seniors struggling during the COVID-19 pandemic. The government provided a one-time payment of CAD 300 to those already receiving Old Age Security benefits and an additional CAD 200 to those receiving the Guaranteed Income Supplement. Ottawa stated that over 6.5 million seniors would benefit from this additional funding. Furthermore, the additional funds are intended to support other initiatives for seniors, such as increasing the GST credits for low-income seniors and providing CAD 350 million to charities serving vulnerable communities, such as United Way.
It must be said that Canada is truly a country with high welfare. Not only is the environment beautiful and the quality of life high, but there are also many measures and thoughtful services that facilitate the lives of seniors, along with a comprehensive pension system to help them enjoy their later years.
As we all know, Canada has always been a country that welcomes immigrants with open arms. The Canadian government has revealed on multiple occasions that its immigration policy continues to encourage a large number of immigrants to come and live in the Maple Leaf country! Even during the pandemic, Canada has not stopped accepting immigrants, and it is steadily progressing with its "Three-Year, One Million Immigrants Plan."
For investors, now is a great time to apply for the Entrepreneur Immigration Program in Prince Edward Island. On September 17, 2020, the latest EOI selection results for the Entrepreneur Immigration Program in Prince Edward Island were announced, with a minimum score of 102, which is a decrease of 10 points compared to August. The selection frequency for the Entrepreneur Immigration Program in Prince Edward Island is once a month, with selection dates on: October 15, 2020, November 19, 2020, and December 17, 2020.
Additionally, currently, applicants for the Entrepreneur Immigration Program in Prince Edward Island can submit their EOI applications without an interview, and can submit the full set of documents after selection. With lower scores and requirements, it is recommended that investors interested in immigrating to Prince Edward Island contact WorldWay Immigration Consultants as soon as possible to enter the selection process early, as early application leads to early peace of mind.
In addition to the Entrepreneur Immigration Program in Prince Edward Island, the Asia's Top 500 Brand WorldWay Group has also launched low-threshold Quebec Investment Immigration, quick landing Saskatchewan Entrepreneur Immigration, Manitoba Entrepreneur Immigration, New Brunswick Entrepreneur Immigration, and other Canadian investment immigration projects to help investors realize their dreams of moving to Canada.
2020 is the year of health planning, with health planning and identity taking precedence. Canada, with its strong competitiveness and multiculturalism, is worth your choice. For more details, please consult: Mainland China: 400-138-2929 Hong Kong: (852) 2802 8798.
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