Being a Pensioner

[pop82]

Dear All,

Let's say you became old and you didn't earn enough money to buy any apartment, and you also don't have much money on your bank account, and you can't work much, since you are old and weak.
How do you survive in Canada?

thank you

 

[scylla]

You would go on welfare. Welfare doesn't pay very much money at all - so while it would allow you to live, it won't be a good life.

 

[Leon]

It's basically your job to prepare for your old age while you can still work. If you don't make enough money, get an education or do an apprenticeship or get a 2nd job. You can get taxes back for what you put in a registered savings plan up to a certain amount. If you can't afford to buy a house or a condo, maybe you can afford a trailer. You have to think about how you will survive when you can no longer work. The state is not going to do it for you.

 

[mrbeachman]

Actually, once you reach 65, you would not be on welfare. You would be on basic pension + Income supplement which these days is around $1300 a month if you don't have any other income.

... and to be perfectly honest, yes you can live okay on that money, but probably not in Toronto.

Hamilton, for example, is full of retirement homes for people in just that situation. I checked a pretty decent 1 bedroom apartment in First PLace Hamilton (link below) which after all the subsidies government kicks in would cost you around $400 a month or less.


http://www.firstplacehamilton.ca/

 

[steaky]

You would go on welfare. Welfare doesn't pay very much money at all - so while it would allow you to live, it won't be a good life.

They can beg money, offer wipe windshields and collect aluminium cans and other things for money.