They will only qualify for a pension if they have worked in Canada and contributed to CPP - or if they have worked in a country where Canada has a social security agreement in place. You can read more here:Example, license, Bank account, OHIP
How will they be eligible for pension when they turn 60+ etc.
Pension would be from home country. Haven’t paid into CPP. Apply for OHIP when the land. Look at what OHIP doesn’t pay for and budget health care costs (dental, eye, physio etc). Same for license And bank. Most likely need to take driving tests. Go on the Ontario government site and read through OHIP and drivers license steps.Example, license, Bank account, OHIP
How will they be eligible for pension when they turn 60+ etc.
When one applies and is accepted for the PGP one must factor in they might not qualify at all for receiving any pension , unless as noted above the country they are arriving from has a social security agreement with Canada AND they’ve contributed into it during their working period .Example, license, Bank account, OHIP
How will they be eligible for pension when they turn 60+ etc.
The sponsoring family member will be the ones providing them with a “pension” unless they have their own savings. If under 65 they will also not qualify for things like highly subsidized prescription in many provinces. There is a huge cost associated with sponsoring a parent. LICO amount is not really enough to support extra family members especially seniors. For example if your parent needed to go into longterm care you would be responsible for a bed fee of around 1-1.5k/month. Most Canadian direct their pension funds to be used to cover the cost of the bed fee in LTC but if parents have been sponsored less than 20 years ago (10 years in QC) the sponsoring child will need to pay the monthly fee. As Canadians age they discover there are quite a lot of things that are not covered by government and it falls on people to pay out of pocket.Example, license, Bank account, OHIP
How will they be eligible for pension when they turn 60+ etc.
# 1Example, license, Bank account, OHIP
How will they be eligible for pension when they turn 60+ etc.
1. Yes, they can apply right away.thanks for so many replies, few quick follow-up questions,
1: For OHIP, I see they need to be present here for 153 days on the website however, I read here they can apply for it once landed.
https://www.ontario.ca/page/apply-ohip-and-get-health-card
2: They're not eligible for a pension, but I can claim them as dependents and can use them in tax harvesting correct?
3: How is SIN helpful, if they're not going to work?
4: Any benefit of them having TFSA account?
They should only apply for OHIP if they plan on meeting the residency requirement which is being present in Ontario for the first 5 out or 6 months and 6 out of the first 12 months as well as make Ontario their permanent home. Being present for 153 days out of the year is only for subsequent years not the first year. If they don’t meet their residency requirement one year they must reapply for OHIP even if they have a valid card. To qualify for OHIP you need to meet the residency requirement and have a valid OHIP card.thanks for so many replies, few quick follow-up questions,
1: For OHIP, I see they need to be present here for 153 days on the website however, I read here they can apply for it once landed.
https://www.ontario.ca/page/apply-ohip-and-get-health-card
2: They're not eligible for a pension, but I can claim them as dependents and can use them in tax harvesting correct?
3: How is SIN helpful, if they're not going to work?
4: Any benefit of them having TFSA account?