Your Guide To Financial Assistance for Seniors

| 8 min read Crowdfunding

Retirement should be a stress-free time to fully relax and live comfortably. However, 67% of Canadians aged 28 to 44 worry about running out of money in retirement – especially now the total retirement savings they’re expected to need has reached $900,000.

Fortunately, if you or someone you know is struggling financially, there are resources available to provide help and hope to older Canadians wanting to stay financially independent. 

Read on to discover ways to find financial assistance for seniors in Canada, from government programs to nonprofit organizations.

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Organizations that offer senior financial assistance

There are many fundraising platforms and nonprofit organizations that help Canadian senior citizens. Below, we’ve listed some resources and charities you can turn to when you need emergency financial assistance. 

Canadian Red Cross 

The Canadian Red Cross provides various senior support services to citizens across Canada. You can search for specific services on the charity’s website or find which programs are available in your location. Some of the services include:

  • Adult Day Program
  • Assisted Living Services
  • Friendly Calls Program
  • Friendly Visiting
  • Home Maintenance
  • Hospital Transition to Home Support

HelpAge Canada

HelpAge is a nonprofit organization that supports senior Canadians at risk of loneliness and isolation. Through programs like Age Better, which offers grants of up to $10,000 to community initiatives aligned with its mission, HelpAge aims to improve the quality of life for seniors in every province.

Crowdfunding

When you or someone you know needs senior financial assistance fast, crowdfunding is your answer. With GoFundMe, starting a fundraiser is completely free and there are no long waiting periods to receive your funds. 

Check out our tips and tricks to start fundraising on Canada’s #1 crowdfunding platform or read our answers to the top crowdfunding questions.

Here are some of our crowdfunding stories:

Government financial assistance for seniors

Retirement should be peaceful. Unfortunately, many retirees worry about how to get help with bills, both for everyday necessities and unexpected emergencies. 

Thankfully, the government programs listed below provide much-needed financial help for seniors. 

Canada Pension Plan (CPP)

The Canada Pension Plan is a public pension that will provide you with an income after you retire. The program is open to retirees aged 60 or over who have made at least one contribution to the plan during their working life. 

Enrolment is not automatic, so if you want to receive pension payments, you need to apply in advance through the government website. Note that the equivalent plan for people in Québec is the Québec Pension Plan.

Old Age Security (OAS)

Old Age Security is a benefit paid to all eligible Canadians over the age of 65. Unlike CPP, you don’t have to pay into OAS in advance, and in most cases, you will be enrolled automatically. 

If you don’t receive a letter about the OAS pension the month after you turn 64, you may need to apply for the OAS pension. There is a 10% increase in payments once you reach age 75. 

Guaranteed Income Supplement (GIS)

The Guaranteed Income Supplement is a monthly payment available to Canadians aged 65 or older. The benefit is supplemental to Old Age Security, but unlike OAS, it’s means-tested, so is only available to senior citizens with an income below a certain threshold. 

This threshold changes depending on your marital status and whether your spouse or partner also receives OAS.

Home Adaptation for Seniors’ Programs

Some provincial governments offer financial assistance for seniors to make changes to their homes, allowing them to maintain their independence for longer. The details of these programs differ by province.

For example, Nova Scotia’s Home Repair and Accessibility Program may fund up to $18,000 of eligible repair costs and up to $16,000 of eligible accessibility upgrades.

Alternatively, Alberta’s Seniors Home Adaptation and Repair Program provides a maximum loan of up to $40,000 to Alberta seniors and senior couples with a total annual income of $75,000 or less.

Assisted Living Program

The Assisted Living Program provides funding to social support services for people living on-reserve with chronic illness or disability. To receive assisted living support, individuals must be formally assessed by a healthcare provider as requiring social support services. 

Special Needs Assistance for Seniors

Available to residents of Alberta, the Special Needs Assistance for Seniors program provides financial support for three areas: health support, personal support, and appliances or furniture. Health support includes prescription costs and diabetes supplies, while personal support covers a wide range of items, including clothing, housekeeping, and respite care. 

Tax credits for seniors

People in Canada aged 65 or older may benefit from certain tax credits, including a non-refundable amount of up to $8,396 per year. You can also deduct eligible medical expenses and claim back up to $20,000 per year in expenses for adaptations made to your home to make it more accessible.

Plus, eligible individuals with a disability or supporting a family member may claim $9,428 per year as a non-refundable Disability tax credit (DTC). Other tax credits include:

  • Goods and services tax/harmonized sales tax (GST/HST) credit
  • Pension income splitting
  • Canada caregiver credit
  • Medical expenses

Housing programs for seniors

Each province and territory in Canada offers its own housing programs for seniors, including rent assistance programs, home improvement assistance programs, and tax credits for homes. 

Eligibility will differ depending on the program, but most are designed to support people aged 65 or older.

Government benefits finder

The Government of Canada’s Benefits Finder tool helps you to search for financial assistance programs in different provinces and territories. By entering your age and some other personal information, you can find relevant government benefits programs, including senior financial assistance.

Help for seniors living alone

Many seniors want to continue to live independently in their own homes but may need financial assistance with everyday activities like cooking and shopping. Thankfully, many Canadian programs help seniors who are living by themselves. Here are some examples.

Meals on Wheels Ontario

Meals on Wheels operates in 181+ communities across Ontario, delivering home-cooked, nutritious meals to vulnerable groups, including seniors and people with physical disabilities. The nonprofit operates on a local level, so availability and delivery schedules will depend on your location.

Home and community support services

Regional home and community support services, such as Ontario Health atHome, can provide support to isolated and vulnerable seniors and help them live independently. This can include ensuring that seniors receive the medical and rehabilitative care they need to help with everyday tasks and community engagement.

A Friendly Voice

A Friendly Voice is a free “warm line” that people aged 55 or over can call if they need someone to talk to. Operated by the nonprofit Rural Ottawa South Support Services (ROSSS), the service is available in Ontario, Nova Scotia, Newfoundland, New Brunswick, and Prince Edward Island.

H2: Benefits programs for seniors with pets

For seniors, owning a pet can provide a level of companionship that is essential to health and wellbeing. However, owning a pet is costly, and some owners may need help with vet bills, food costs, and vaccinations. Here are some organizations that provide financial help for seniors with pets. 

ElderDog Canada

ElderDog is a charity that supports older people and senior dogs across Canada. The organization has a Dog Care Support program to assist with everyday pet care tasks like grooming and exercise, and it also provides rehoming services for older dogs that have been separated from their owners.

Humane Canada Pet Food Bank

Through its National Pet Food Bank grants, Humane Canada offers financial assistance to organizations that support owners in keeping their pets fed. Donations to Humane Canada are distributed to food banks and similar organizations that help those who struggle with the financial cost of feeding their pets.

Progressive Animal Welfare Services (PAWS)

PAWS offers a range of programs to help people on low incomes care for their pets. The organization provides vet care subsidies, including for spays and neuters, and runs educational programs to help people understand how to care for their beloved pets.

Use GoFundMe to provide financial assistance for seniors

If you or someone you know needs senior financial assistance, we’re here to help. With GoFundMe, you can create a fundraiser and support senior Canadians fast – without any lengthy applications or deadlines. 

Start your fundraiser today and see what kind of difference you can make in the life of a friend or loved one. Check out our fundraising ideas and tips for additional advice.

Start a fundraiser for senior citizens

Written by Ved Khan