Besides heath care coverage, what other benefit do sponsored parents have?

[USE1995]

Thanks, my parents are low income and senior, we live in Alberta. I had to sponsor them for 20 years, but after 10 years, will they have some benefit?

They are currently working so they will get GIC and OAS, but very little. Just want to know our options here, any input is good, thanks!

 

[scylla]

Thanks, my parents are low income and senior, we live in Alberta. I had to sponsor them for 20 years, but after 10 years, will they have some benefit?

They are currently working so they will get GIC and OAS, but very little. Just want to know our options here, any input is good, thanks!

More or less that's it. Otherwise it's really about their own savings. Make sure they are taking advantage of TFSAs, RRSPs, etc.

 

[YVR123]

Thanks, my parents are low income and senior, we live in Alberta. I had to sponsor them for 20 years, but after 10 years, will they have some benefit?

They are currently working so they will get GIC and OAS, but very little. Just want to know our options here, any input is good, thanks!

That's pretty much what seniors get here. Sponsored or not.
That's why Canadians save up for their retirement. (RRSP, TFSA)

 

[Naturgrl]

Thanks, my parents are low income and senior, we live in Alberta. I had to sponsor them for 20 years, but after 10 years, will they have some benefit?

They are currently working so they will get GIC and OAS, but very little. Just want to know our options here, any input is good, thanks!

Federal is OAS, CPP (haven’t paid into it) and GIC.
Alberta - Alberta Seniors Benefit (check if they are eligible and can assess it based on their NOA/income tax returns)

Then they use their savings for long term care, prescriptions, therapy etc.

 

[YVR123]

Oh. I almost forgot. They will also get support from you, their sponsor. You should budget on their spending as they age and need more money on prescriptions, therapy, home support ...etc.

 

[steaky]

Would they get also GST Credit and Climate Action Incentive Payment?

 

[Naturgrl]

Would they get also GST Credit and Climate Action Incentive Payment?

Those would be automatic if parents file taxes and are eligible.

 

[Copingwithlife]

Thanks, my parents are low income and senior, we live in Alberta. I had to sponsor them for 20 years, but after 10 years, will they have some benefit?

They are currently working so they will get GIC and OAS, but very little. Just want to know our options here, any input is good, thanks!

People are all gung ho about sponsorship of their parents , but I don’t think most truly budget on how much it’ll cost them over the 20 years , and how little they’ll get in regards to OAS etc .
In effect most that sponsor will be using their savings to support their parents .In effect their retirement funds will be used . It’s not all sunshine & roses , it’s cold hard cash
Sponsor wisely

 

[canuck78]

Quite right.

But, I suspect that, at the end of the day, a good many sponsor undertakings turn out to be a thing writ in water. In the long run, the sponsors themselves turn out to be just as indigent as those sponsored, so the parents end up on the public tit and there's no way to collect from the kids, if they are still around.

Given the cost of living LICO is incredibly low. The government should also make it very clear what potential large expenses people need to plan for if they sponsor their parents. Getting older in Canada can be very expensive. Many things are not covered. Also seems crazy that most of these parents end up being considered low income no matter whether they have assets leading to more pressure on low income senior programs that are already maxed out. Given that 2 million in Canada don’t have a GPs and it’s going to get worse, huge deficit of LTC beds, huge staffing crisis in HC, not enough beds per capital in hospitals, etc. I don’t see this program is feasible and at increasing numbers. Immigration also needs done rethinking. Instead of raising targets yearly retaining immigrants longer is a much more sensible plan.

 

[steaky]

People are all gung ho about sponsorship of their parents , but I don’t think most truly budget on how much it’ll cost them over the 20 years , and how little they’ll get in regards to OAS etc .
In effect most that sponsor will be using their savings to support their parents .In effect their retirement funds will be used . It’s not all sunshine & roses , it’s cold hard cash
Sponsor wisely

It probably costs them more if they haven't sponsored them. You see, super visa / visitor visa parents often have to go to walk-in clinics (out-of-pockets / insurance often pay for emergencies as well as prescription issues) as oppose to family doctors and if ER, they often have to spend more waiting time than PR. Especially for non English / French speaking parents, their children / grandchildren will often had to accompany them for medical visits. Also, think about extending stay and other complications relation to visa application.