For many of us, the RRSP contribution we make every year is viewed mainly as a way to reduce taxes payable, without a great deal of focus on what will be done with it in the future. With an aging population, the focus is beginning to shift to turning those years of savings into an… [Read More]
Posts Tagged ‘finance’
Turning your RRSP’s into Retirement Income
Posted on May 3rd, 2013 | 0 Comments
Financial Literacy Month – Cancer and Financial Planning
Posted on November 28th, 2012 | 0 Comments
For Financial Literacy Month, RBC Foundation wrote an article highlighting the financial issues facing cancer patients. For many people diagnosed with cancer, financial worries go hand-in-hand with the diagnosis. RBC Foundation is one of the longest standing Wellspring supporters, having made their first donation to Wellspring in 1992. Recently RBC Foundation exceeded the $1-million mark… [Read More]
Employment Insurance Benefits for Parents with Sick Child
Posted on August 17th, 2012 | 7 Comments
Employed parents who have a sick child will soon be eligible for a new financial security blanket. Starting next year, Employment Insurance will offer a new program providing EI benefits for parents who have a seriously ill child and have to leave work to provide care. Occasionally I would get calls from parents describing their… [Read More]
How Can the Special Diet Allowance Help Those With Cancer?
Posted on July 18th, 2012 | 5 Comments
The Special Diet Allowance can offer a vital monetary supplement to individuals receiving Ontario Works or Ontario Disability Support Program with extra expenses related to a special diet due to certain medical conditions. A cancer diagnosis alone does not guarantee an approval for the Special Diet Allowance; instead, the approval of the Social Diet Allowance… [Read More]
Filling out the shortened CPP Disability “Terminally Ill” Application
Posted on July 10th, 2012 | 2 Comments
If you have ever completed, or helped someone to complete, the CPP Disability application, you know two things – it’s long, and it’s complicated. At the Wellspring ‘Money Matters’ program, we frequently help cancer patients to navigate through the application, pointing out highlights and areas where detailed and specific information is needed. The staff at… [Read More]
Understanding How the New Ontario Budget Affects Social Assistance
Posted on April 2nd, 2012 | 1 Comment
It was announced at the March 27, 2012 Ontario Provincial Budget that social assistance rates will be frozen for the next year. Social Assistance inOntariocomprises two main programs – Ontario Works (OW), formerly called “welfare” and the Ontario Disability Support Program (ODSP). Ontario Works is a municipal program, so payment rates can vary around the… [Read More]
Making Sense of the Changes to CPP Disability Program
Posted on March 22nd, 2012 | 0 Comments
The CanadaPension Plan – Disability Benefits (CPPD) program recently released their annual “Staying in Touch” newsletter. To find the newsletter online, visit http://www.hrsdc.gc.ca/eng/oas-cpp/cpp_disability/newsletter/sit_2012.shtml The CPP rates rose slightly this year – a maximum CPPD pension is $1185.50/month and the average CPPD pension is $843.27/month. As well, the Children’s Pension (for children with a parent who… [Read More]
Drug Costs and Drug Adherence – some interesting results from a recent study
Posted on February 13th, 2012 | 1 Comment
The Canadian Medical Association Journal recently published a report that found those in Canada without drug coverage struggled financially to pay for their medications. As well, many faced other challenges – skipping doses, delaying filling or re-filling a prescription, or going without their needed pills due to a lack of funds. Others reported having trouble… [Read More]
Update – Changes to Canada Pension Plan Retirement Benefits
Posted on January 19th, 2012 | 1 Comment
Starting in 2012, the Canada Pension Plan Retirement Benefit is undertaking some new initiatives that will impact workers who retire and take their pension early as well as for those who receive their retirement pension and then return to work. Some of the more specific details of the program changes include: An increase in the… [Read More]
Understanding Compassionate Care and Sickness Benefits
Posted on January 12th, 2012 | 0 Comments
As we know Compassionate Care Benefits are available for a maximum of 6 weeks for someone to leave work so they can care for a gravely ill family member. Sickness Benefits are for someone who is temporarily unable to work, up to a maximum of 15 weeks. Can a person access both Compassionate Care and Sickness… [Read More]
