FSNA supports investments for seniors announced in Budget 2008
Press Release – February 27, 2008 19:53 ET
The Federal Superannuates National Association (FSNA) welcomes those provisions in the 2008 federal budget, which address a number of concerns of seniors.
FSNA is particularly supportive of the 2008 budget measures aimed at low-income seniors. “We recognize that this budget is based on forecasts of an economic downturn so we are pleased to see the government taking positive actions such as those to increase the income exemption in the GIS program, as well as introducing an improvement in the VIP program for survivors of Canadian veterans.” said Dennis Jackson, National President of FSNA.
Also of particular interest to seniors will be the improvements to provisions under the medical tax credit and the introduction of new health-related tax measures. “It is encouraging to see the government’s response to the work of the National Seniors’ Council in the form of the allocation of an additional $13 million to the “New Horizons for Seniors” program for the express purpose of addressing the important issue of elder abuse.”
FSNA is pleased with the budget-proposal of a “Tax-Free Savings Plan” (TFSA) that will benefit today’s seniors as well as the generation of baby boomers who are now contemplating their retirement years. Those seniors currently 65 and over will have the option to use a TFSA to generate additional income that will not impact their GIS and OAS payments. Working Canadians will be able to use the TFSA as another tool in planning sources of post-retirement income.
FSNA is committed to working with all levels of government in areas that support our members and seniors in Canada. We look forward to discussions around health care commitments and social supports for seniors as the Canadian population ages.
About FSNA
FSNA is the largest and most influential advocacy group for federal retirees. As a not-for-profit association with more than 160,000 members, FSNA is recognized by the Government of Canada as the major representative of pensioners – and their partners, and survivors – from the Public Service, Canadian Forces and the Royal Canadian Mounted Police and of retired federally appointed judges. FSNA’s mission is focused on protecting the interests and improving the benefits of pensioners.
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For further information:
Francis Bowkett
FSNA Executive Director
Tel.: 613 745-2559
Fax: 613 745 5457
bowkett@fsna.com
www.fsna.com
June 26th, 2008 at 7:27 am
The more I read about the Tax-free savings plan the more I like it. What a great way for us seniors to shelter some cash for a rainy day.