Retirement Planning: Retirees – A list of Government Services and Benefits

Bill Fraser • November 5, 2018

Need for retirement planning in Canada. As more and more Canadians are entering their golden years and heading into retirement, it is important to remember that seniors in this country are eligible for many benefits, services and programs on a federal, provincial and municipal level. Once you arrive at the age of 65, you are legally a senior in Canada and are privy to the Government of Canada’s website dedicated to information for seniors. These websites are also a great tool to assist Canadians with retirement planning.


Government Of Canada – Website for Seniors

http://www.seniors.gc.ca/eng/pie/saei/index.shtml

This website allows you to choose your province of residence and provides you with an array of information including provincial programs for seniors, federal benefits and pensions as well as federal tax information, application instructions and forms for Old Age Security (OAS) and Canada Pension Plan (CPP).

Benefits

The website also gives you access to a Benefits Finder tool, which allows you to receive a customized list of benefits that pertain to your personal situation and eligibility by answering a short list of questions. Each province and situation has different eligible benefits and by answering these questions, you can have a good sense of what you and your dependents are qualified for.

http://www.canadabenefits.gc.ca/f.1.2cw.3zardq.5esti.4ns@.jsp?lang=eng

Physical activity, healthy eating and maintain a healthy home

There is even an information guide on the website giving tips and advice for seniors to stay active, engaged and informed. This includes advice for physical activities, healthy eating and maintaining a safe and healthy home.

http://www.seniors.gc.ca/eng/pie/saei/index.shtml

Tax information

One of the links on this website is Tax Information from the Canadian Revenue Agency (CRA). This link provides seniors with specific information related to filing taxes as a senior, including CPP and OAS information as well as medical expenses and many other common topics pertaining to seniors and their taxes.

http://www.cra-arc.gc.ca/seniors/

Please make sure to take advantage of this informative tool for seniors. Whether you are entering your golden years yourself or you are helping a senior with retirement planning, it is always good to stay ahead of the game and be prepared to enroll in the benefits and services/programs that the Canadian government has to offer.

This article is the property of HomEquity Bank and has been published with permission.

BILL FRASER
OWNER / MORTGAGE EXPERT

BOOK AN APPOINTMENT CONTACT ME
RECENT POSTS

Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart

By Bill Fraser • July 7, 2026
Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart There’s no denying it—buying a home is an emotional journey. In a competitive market, it can feel like you need to stretch beyond your comfort zone or bid above asking just to have a chance. That pressure can make it hard to separate what you want from what you can realistically afford. One of the biggest pitfalls buyers face is falling in love with a home that’s outside their price range. Once that happens, every other property seems like a compromise—even the ones that might have been a perfect fit otherwise. The best way to avoid this heartache? Get pre-approved before you start shopping. What a Pre-Approval Does for You A mortgage pre-approval gives you more than just a number—it provides clarity, confidence, and protection: Know your buying power : Shop within your true price range and avoid disappointment. Spot potential roadblocks : Uncover issues like credit bureau errors before you make an offer. Get organized : Learn exactly what documentation you’ll need so there are no surprises. Lock in a rate : Many lenders hold your rate for 30–120 days, giving you peace of mind if rates rise. Save yourself heartache : Protect yourself from falling for a home you can’t afford. Head vs. Heart Buying a home is about balance. Your head tells you what’s financially sound, your heart tells you what feels right—and both matter. A pre-approval helps bring those two sides together, so you can make confident choices without emotional stress clouding your judgment. The Bottom Line Looking at properties for fun is one thing—but if you’re serious about buying, a pre-approval is the smartest first step you can take. It sets realistic expectations, saves time, and protects your emotions along the way. If you’d like to explore your options and get pre-approved, I’d be happy to walk through the process with you. Let’s make sure you’re ready to shop with confidence.

Breaking Down the Real Costs of Homeownership

By Bill Fraser • June 23, 2026
Don’t Forget About Closing Costs When planning to buy a home, most people focus on saving for the down payment. But the truth is, that’s only part of the equation. To actually finalize the purchase, you’ll also need to budget for closing costs —the out-of-pocket expenses that come up before you get the keys. Closing costs can add up quickly, which is why they should be part of your pre-approval conversation right from the start. Lenders will even require proof that you’ve got enough funds set aside. For example, if you’re getting an insured (high-ratio) mortgage, you’ll need at least 1.5% of the purchase price available in addition to your down payment. That means a 10% down payment actually requires 11.5% of the purchase price in cash to make everything work. Let’s break down some of the most common expenses you should prepare for: 1. Home Inspection & Appraisal Inspection : Paid by you, this gives peace of mind that the property is in good shape and doesn’t have hidden problems. Appraisal : Required by the lender to confirm value. Sometimes this is covered by mortgage insurance, sometimes by you. 2. Legal Fees A lawyer or notary is required to handle the title transfer and make sure the mortgage is properly registered. Legal fees are often one of the larger closing costs—unless you’re also responsible for property transfer tax. 3. Taxes Many provinces charge a property or land transfer tax based on the home’s purchase price. These fees can range from hundreds to thousands of dollars, so you’ll want to factor them in early. 4. Insurance Property insurance is mandatory—lenders won’t release funds without proof that the home is insured on closing day. Optional coverage like mortgage life, disability, or critical illness insurance may also be worth considering depending on your financial plan. 5. Moving Costs Whether you’re renting a truck, hiring movers, or bribing friends with pizza and gas money, moving comes with expenses. Cross-country moves especially can be surprisingly pricey. 6. Utilities & Deposits Setting up new services (electricity, water, internet) can involve connection fees or deposits, particularly if you don’t already have a payment history with the utility provider. Plan Ahead, Stress Less This list covers the big-ticket items, but every purchase is unique. That’s why it pays to have an accurate estimate of your personal closing costs before you make an offer. If you’d like help planning ahead—or want a breakdown tailored to your situation—let’s connect. I’d be happy to walk you through the numbers and make sure you’re fully prepared.