To calculate your cash benefit, first calculate your non-deductible income. If you have a non-deductible income greater than $0, identify your appropriate phase out rate. Finally, identify your maximum benefit amount. Then, insert this information into the following two calculations:

Step 1
Non-deductible income		Multiply	Phase out rate	Equals	Sliding scale reduction
$ ____________		X	__________	=	___________

 

Step 2
Maximum benefit		Minus	Sliding scale reduction	Equals	Annual cash benefit
$ ____________		-	$___________	=	$__________

Note:  If the annual cash benefit figure is zero or a negative, you are not eligible for a cash benefit.

The following example may assist you:
A senior couple who are homeowners and have a combined non-deductible income of $5,300. The maximum cash benefit for a senior couple who are homeowners is $4,320. The appropriate phase out rate is 0.1727. Their calculations would be like this:

Step 1
Non-deductible income		Multiply	Phase out rate	Equals	Sliding scale reduction
$5,300		X	0.1727	=	$915.31

 

Step 2
Maximum benefit		Minus	Sliding scale reduction	Equals	Annual cash benefit
$4,320		-	$915.31	=	$3,404.69

The senior couple would qualify for $3,404.69 per year or $283.72 per month. This means each senior would qualify for $141.87 per month.

If you or your spouse live in a long-term care centre or designated assisted living facility or you are not eligible to receive the Old Age Security pension, your benefits will be different from those above.  Call the Alberta Seniors Information Line at 1-800-642-3853 for more details.