Newfoundland and Labrador Seniors� Benefit enhanced

Finance Minister and President of Treasury Board Joan Marie Aylward announced today that the Newfoundland and Labrador Seniors� Benefit, first introduced in 1999, will be enhanced to give a greater benefit to all eligible seniors, age 65 and over, whether or not they are in receipt of a pension.

"I am pleased that we are able to assist seniors by raising the maximum payment under the Newfoundland and Labrador Seniors� Benefit to $300 from $200," said Minister Aylward. "As well, seniors, including eligible pensioners, with an annual family income of $14,000 or less will receive the full benefit, compared to the previous $12,000."

The benefit will be $300 for seniors with a family net income of $14,000 or less, and will be phased out at a rate of five per cent of income as family income rises from $14,000 to $20,000. The Newfoundland and Labrador Seniors� Benefit complements existing income tax benefits for seniors, which include pension income and age credits. Seniors may also be eligible for the low income HST credit introduced by the provincial government when the RST and GST were integrated in 1997.

Approximately 28,000 seniors, 46 per cent of the total of 61,000 persons 65 years of age and over in the province, will receive the Newfoundland and Labrador Seniors' Benefit, with about 10,000 receiving the full amount. Of the 28,000 beneficiaries, approximately 19,000, or 68 per cent, are women.

Seniors do not need to make special application for the new benefit which will be paid once a year. Newfoundland and Labrador Seniors' Benefit cheques go in the mail each fall.

Media contact: Paula Dyke, Communication, (709) 729-0329.

2001 03 22                              3:50 p.m.