Retirement Benefit and Grant
The Retirement Benefit is a monthly payment made to insured persons who have retired from gainful employment or who have attained the age of 65 years. A retirement Grant is a one-time payment to the retiree who has attained age 65 years old and has paid at least 150 Contributions but does not meet the 500 Contributions condition for the Retirement Benefit.
QUALIFICATIONS
-
Must have paid 500 weeks of contributions.
AND -
Must be aged 60 to 64 years, retired from gainful employment, or if still working, is not earning more than half of the insurable wage ceiling;
OR -
Must attained aged 65 years or older.
BENEFIT RATE
The full benefit is paid from age 65, but persons have the option of retiring from as early as age 60 years with a reduced benefit payment. Benefit rate based on total contributions: A range of 30% - 60% of average insured wages or income depending on number of contributions paid and or credited.
PAYMENT PERIOD
REQUIRED FORMS
B.58
B.75b
VERIFICATION
Required twice a year during the claimant's birth month and six months thereafter.
CONTINUED ELIGIBILITY
If younger than 65 years, claimants who return to gainful employment must earn an income of less than half of the insurable ceiling.
CLAIM DEADLINE
Claims must be submitted within 3 months from the final date of employment.
Paid as a monthly pension throughout the retiree’s life.
Invalidity Benefit
The Invalidity Benefit is a monthly payment made to eligible insured persons who have been medically certified to be permanently unable to work as a result of illness that is not job related. A person suffering permanent incapacity as a result of a job-related illness, should claim Disablement Benefit.
QUALIFICATIONS
Must be younger than 65 and have paid at least 150 weeks of contributions.
BENEFIT RATE
The benefit is paid at a weekly rate that ranges from a minimum of 16% - 60% of the insured person’s average insurable wage or income.
CONTINUED ELIGIBILITY
The claimant must still be considered an invalid or must not have resumed employment.
REQUIRED FORMS
B.59
VERIFICATION
Required twice a year during the claimant's birth month and six months thereafter.
CLAIM DEADLINE
Claims must be made within 3 months of the diagnosis by the doctor.
Survivor’s Benefit and Grant
The Survivor’s Benefit is a monthly payment made to the dependent survivors of a deceased insured person. The Survivor’s Grand is a one-time payment made to a widow/widower of a deceased insured person who paid at least 150 contributions but does not qualify for Survivors Benefit.
QUALIFICATIONS
The deceased insured person must had paid at least 150 contributions.
BENEFIT RATE
Payable in varying amounts to qualifying dependents in priority order:
-
Widow/widower dependent children (biological, adopted, stepchildren) of the deceased under age 16 years, or up to age 21 years if still in full-time school;
-
Unmarried children who are not children of the deceased person, but who were wholly maintained by him/her, under age 16 years, or up to age 21 years if still in full-time school; or who are invalids;
-
Unmarried orphans under age 16 years, or up to age 21 years if still in full-time school; and the parents of the deceased.
PAYMENT PERIOD
Payment continues as long as all eligibility criteria are met.
REQUIRED FORMS
-
B.56
-
B.75a
-
B.75b
VERIFICATION
Required twice a year during the claimant's birth month and six months thereafter.
CLAIM DEADLINE
Claims must be submitted within 3 months from the date of the death of the insured person.
CONTINUED ELIGIBILITY
Payable in varying amounts to qualifying dependents in priority order:
-
Must still be a widow/widower;
-
Must still be considered a dependent child (biological, adopted, stepchildren of the deceased) under age 16 years, or up to age 21 years if still in full-time school;
-
Must still be an unmarried child / orphan who was wholly maintained by the deceased, under age 16 years, or up to age 21 years if still in full-time school; or who are invalids;
-
parents of the deceased.