Effective July 1, 2021, the maximum monthly benefit provided through the Seniors Income Plan (SIP) will increase by $30 per month. Along with this year's increase, the maximum SIP benefit will also increase by an additional $30 each year for the next two years.
"Our government is fulfilling our commitment to improve seniors' quality of life through our increase to the Seniors Income Plan," Social Services Minister Lori Carr said. "This extra money will help Saskatchewan seniors live more comfortably and securely as they continue participating in and contributing to communities across the province."
The maximum monthly benefit is an increase from $270 per month to $300 per month for single pensioners and from $470 per month to $530 per month for a two-pensioner household. The minimum benefit will also increase from $10 per month to $15 per month.
Since 2008, the Government of Saskatchewan has made six previous increases to the SIP. The program supports more than 15,000 Saskatchewan seniors.
Saskatchewan's Seniors Income Plan provides seniors with financial assistance to help meet their basic needs. The monthly benefit is available to seniors who receive little or no income other than the federal Old Age Security pension and the Guaranteed Income Supplement. Eligible seniors automatically receive this benefit based on the filing of their most recent income tax return.
The Seniors Income Plan is a monthly income-tested benefit, meaning that seniors receive different levels of support depending on the amount of their pension, taxable income or living arrangement. The benefit is higher for seniors with lower income.
For more information about SIP, please visit: https://www.saskatchewan.ca/residents/family-and-social-support/seniors-services/financial-help-for-seniors.