Many forms of banking services are available through:
- Chartered Banks - Credit Unions - Trust Companies
Type of services and accounts vary greatly. When selecting a financial institution consider location and convenience, two prime concerns.

- services - deposit and withdrawal convenience during off hours? - Inter-branch banking? - Interest rates - special rates offered for seniors? - how often is interest paid? Many accounts have daily interest. Choices should never be based on high interest rates alone. Rates exceeding current industry norm by 2 or 3 percent can be an indication of greater risk.

Buyer beware!
- service charges - obtain accurate information on what applies to your account - financial stability - Canadian banking industry is historically stable; however, it is a good idea to give careful consideration to asset position, professional management and stability. - Funds on deposit in many Canadian financial institutions - i.e. chartered banks and trust companies - are covered by Canada Deposit Insurance to a maximum of $60,000 per individual account holder and/or joint account holder in any one bank or trust company.
The Credit Union Deposit Insurance Corporation of British Columbia provides coverage up to $100,000 per separate deposit account, per member, per credit union in BC and applies to the combined total of deposits in a member's personal accounts and to joint accounts, RRSP's, RRIF's and trust deposits. The exceptions are credit union equity shares and non-deposit investments such as mutual funds or RRSP equity plans, since these are not deposits. This fund is financially backed by BC government.

But here's where some confusion comes in.
For example: John and Mary Brown have joint chequing and savings accounts at the financial institution of No-Name. The maximum coverage available on these accounts is $60,000 or $100,000. However, Mary also has a savings account in her name. This is considered a different person than the joint account holder and is separately insured up to maximum of $60,000 or $100,000. The same option is, of course, available to John for account(s) solely in his name, up to $60,000 or $100,000. Trust Deposits, Registered Retirement Plans, Registered Retirement Income Funds and Guaranteed Investment Certificates could also increase insurance coverage available.

NOTE-RRSP’s-1996 BUDGET CHANGES-
RRSP Conversion Age Reduced to 69
In the March 6, 1996 Federal Budget, the government made an important announcement regarding when Registered Retirement Savings Plans (RRSP’s) must be converted to Retirement Income. This will ultimately affect all Canadians who are saving for their retirement through RRSP’s. Any funds held in an RRSP must now be converted by December 31st of the year in which you reach the age of 69-not 71 as was previously the case.

If your beneficiary is a physically or mentally handicapped child or grandchild who was financially dependent on you, part or all of the remaining value can be transferred, without taxation, to an RRSP, RRIF or annuity in the child’s or grandchild’s name, or taxed in his or her name. If the beneficiary is an able-bodied child or grandchild under 18 who was financially dependent on you, part or all of the remaining value can be transferred, without taxation, to a Term Annuity to Age 18, with annuity payments taxed in the child’s name over that period.

Contact your nearest professional financial advisor to arrange an appointment. He/She will assist you in making the best decisions based on your financial situation.

FINANCIAL PLANNING STANDARDS COUNCIL
Financial planners deal with one of the most personal and sensitive aspects of people’s lives: their financial security. As a result, trust is at the heart of the financial planning relationship - trust in the planner’s competence, integrity and objectivity, and trust that the planner will act first and foremost in your best interests.

The letters ‘CFP’ stand for Certified Financial Planner. The CFP mark identifies individuals who are dedicated to a high level of professionalism in providing financial planning advice. In the absence of uniform government regulation of financial planners, the CFP credential assures the public that those financial planners who are CFP licensees have agreed to adhere to high standards of competence and ethical practice as set out by the Financial Planners Standards Council of Canada (FPSCC).
Individuals who wish to attain the CFP designation must meet education, examination, experience and ethical requirements set by the FPSCC.

The requirements are as outlined:
- Successful completion of an approved educational program. Fulfillment of annual continuing education requirements to keep abreast of planning strategies and financial trends. - A minimum of two years work experience in a financial planning related position. - Successful completion of a rigorous examination that covers the financial planning process, tax planning, employee benefits, retirement planning, estate planning, investment management and insurance. - Adherence to a professional Code of Ethics which requires all CFPs to act in an ethical and professionally responsible manner in all professional services and activities.

There are 5,000 CFPs in Canada. The CFP is an internationally recognized designation held by over 40,000 people around the world.

Look for the distinctive CFP certifications marks, the initials CFP or the words Certified Financial Planner. Only the FPSCC can authorize an individual to use these three marks. You can also ask to see the planner’s current CFP license.

Financial planning involves determining how individuals can meet their life goals through proper management of their financial resources. This broad-based approach to providing financial advice distinguishes financial planning practitioners from other professional advisors who typically focus on only one area of a person’s financial life.

The FPSCC is a non-profit organization incorporated in 1995 to establish and enforce uniform standards. The following organizations are members of the FPSCC. Canadian Association of Financial planners, Canadian Association of Insurance and Financial Advisors, Canadian Institute of Chartered Accountants, Canadian Institute of Financial Planning, Canadian Securities Institute, Certified General Accountants of Canada, Institute of Canadian Bankers, Credit Union Institute of Canada, and the Society of Management Accountants of Canada.

CFPs must follow a professional Code of Ethics. The Code is designed to better serve you, the consumer, by requiring disclosure of pertinent information about a CFP and describing the behavior you should expect from your planner. A CFP is obliged to disclose relevant information that might affect the financial planning relationship, such as sources of compensation including fees or commissions, and any potential conflicts of interest that might compromise the planner’s objectivity.

The FPSCC will respond to alleged violations of the Code of Ethics brought to its attention in writing. If a CFP fails to meet the high standards of the Code of Ethics, appropriate disciplinary action will be taken by the FPSCC. The most severe of these actions is the revocation of the CFP license.
Financial Planners Standards Council of Canada
1600 - 505 University Avenue, Toronto, Ontario M5G 1X3
(416) 593-8587
E-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

BANKRUPTCY
- federal government program to provide bankruptcy referral service to over-burdened consumer debtors
1900-300 West Georgia Street, Vancouver, BC V6B 6E1
(604) 666-5007


CENTRAL OKANAGAN FOUNDATION
The Central Okanagan Foundation was established in 1977 with contributions from local families, societies and companies. The Foundation assembles and manages a collection of funds to serve the interest of the Central Okanagan in areas of arts and culture, children, youth and family, education, health and community service, and heritage, historical and conservation. A board of respected and dedicated volunteers governs the Foundation. Through gifts and bequests, the Central Okanagan Foundation nurtures and supports worthy projects and local initiatives.
PO Box 1233, Kelowna, BC V1Y 7V8
Executive Director: Janice Henry 861-6160

THE KELOWNA GENERAL HOSPITAL FOUNDATION
Established in 1978, the Kelowna General Hospital Foundation (the “KGH Foundation”) is an independent charitable organization dedicated to the support of the Kelowna General Hospital and other health facilities and services in the Central Okanagan, such as long term care facilities, extended care homes and our community health programmes. The work of the KGH Foundation is accomplished by many volunteers and private donors from Kelowna and other Central Okanagan communities. While it is the KGH Foundation which receipts and administers donations; it is patients and families in our communities who benefit from these gifts.
2268 Pandosy Street, Kelowna, BC V1Y 1T2
Contact: Kathy Butler 862-4438

FAMILY MAINTENANCE ENFORCEMENT PROGRAM
- ensures all persons with maintenance orders for child and spouse support can have payments monitored and arrears automatically enforced - must complete Filing Kit - available from Courthouse, Government Agent or Legal Services Society Office - program can locate most debtors even if they live in another province - can be enforced if debtor lives in Canada or a foreign jurisdiction with reciprocal agreement with BC - funded by Ministry of Attorney General
Box 80449, Burnaby, BC V5H 3X9
1-800-663-3933

GOVERNMENT OF BC
EMERGENCY SERVICES
- in cases of urgent need, emergency assistance may be available immediately - during normal business hours apply for service from local district offices as listed below - after-hours, professional/community agencies and caregivers can contact:
KELOWNA 861-7373
PENTICTON 492-1322
VERNON / North 549-5474 South 503-3610
or Toll Free 1-800-663-9122

GUARANTEED AVAILABLE INCOME FOR NEED
Under GAIN people in need may obtain assistance through cash allowances and indirect assistance along with preventative and rehabilitative social services
-supplementary services available for people who qualify for Income Assistance, Old Age Security plus Supplement, and GAIN for Handicapped Allowance
-monthly allowance available to persons severely and permanently physically or mentally handicapped

SPECIAL ALLOWANCES AND COVERAGES
- Dietary Allowance - monthly allowance for those who require therapeutic diet - Training and Incentive Allowances - for those enrolled in programs approved by MSS - Homemaker or Housekeeper - available in case of illness or absence of parent - Funeral Costs - allowance to cover burial costs in relatives or client’s estate cannot afford such services

SENIORS SUPPLEMENT
- guaranteed monthly income level for BC residents receiving federal Old Age Security and Guaranteed Income Supplement or Spouse’s Allowance - level made up of your OAS/GIS, your declared other income, plus Seniors Supplement rate necessary to bring monthly income up to current level - benefits based upon income declared to federal Old Age Security office - age and income requirements: - 65 years of age or older or 60-64 years and married to a federal OAS pensioner - receive full or partial OAS and GIS or Spouse’s Allowance - total income below current guaranteed level - permanent resident of BC - payments are made automatically if your federal GIS rate makes you eligible - payments made automatically to eligible persons 60-64 years of age who receive the federal Spouse’s Allowance and are married to pensioner
SENIORS SUPPLEMENT
PO Box 2500, Victoria, BC V8W 3A1 1-800-665-2656
For information regarding benefits for persons 60 and older who are not receiving federal Old Age Security or Spouse’s Allowance, contact local MSS district office.

SHELTER AID FOR ELDERLY RENTERS
SAFER is a provincial government program to provide direct cash assistance to eligible BC residents age 60+ who live in rental accommodations. To qualify you must be: - applicant or spouse 65 or over and receiving Canadian Old Age Security, or age 60-64 (Canadian citizen or landed immigrant) and have resided in Canada for 10 continuous years as an adult applicant or spouse BC resident for one year immediately prior to application - paying more than 30% of total income for rent - application forms and assistance with completing forms also available through local MSS offices
BCHMC
101-4555 Kingsway, Burnaby, BC V5H 2A5
1-800-257-7756
Office Hours: 8:30am - 4:30pm
When moving from another province, contact Health and Welfare Canada to transfer your files, from the capital of the province you are currently leaving, to Victoria.

GOVERNMENT OF CANADA
INCOME SECURITY PROGRAMS
- Human Resources Development Canada provide speakers to give free of charge seminars on all Income Security Programs administered by them and adapted to needs of individual groups - for this service contact:
HUMAN RESOURCES DEVELOPMENT CANADA
INCOME SECURITY PROGRAMS OUTREACH
Toll Free
English1-800-277-9914
French 1-800-277-9915
TDD/TTY Only1-800-255-4786
Phone the toll free number for an appointment or write Income Securities Program at:
PO Box 1177, Victoria, BC V8W 2V2

CANADA PENSION PLAN
- only if you have contributed to the Plan may you and your dependents be eligible for benefits. You must apply for each of the following:
RETIREMENT PENSION
- qualified contributor, reaching age 60 if retired, or else 65
DISABILITY PENSION
- qualified contributor, physically or mentally disabled, under age 65
SURVIVOR’S ALLOWANCE
- surviving spouse of qualified contributor may receive a pension if he/she meets certain requirements
DEATH BENEFIT
- cash payment to estate of deceased for those
who qualify - deceased must have been a qualified contributor - amount based on number of years contributed
- intended to assist with final expenses
GUARANTEED INCOME SUPPLEMENT
- if you receive Old Age Security Pension and have modest or no income, you may be eligible - monthly payment added to Old Age Security - you must apply - renewal occurs each year based on yearly income
quarterly adjustments based on Cost of Living Index
OLD AGE SECURITY PENSION
- all Canadians over 65 who meet residence requirements qualify for this monthly pension - you must apply and should do so six months before your 65th birthday - basic pension is payable regardless of other income, assets or working status - amount adjusted quarterly based on Cost of Living Index
ALLOWANCE AND ALLOWANCE FOR THE SURVIVOR
- if your spouse is receiving Old Age Security you may be eligible.
- income and residence requirements - a monthly allowance for persons 60 - 64 - you must apply - renewal each year - OAS Act allows payment to all age 60-64 low-income widows/widowers who reside in Canada, meet residence requirements, regardless of when spouse died.


EMPLOYMENT INSURANCE
- weekly benefits may be available after 420 - 910 hours of insured employment within last 52 weeks. Visit our website at www.hrdc-drhc.gc.ca/ei-ae/employment_insurance.shtml
or call toll free1-800-206-7218

VETERANS AFFAIRS CANADA
BUREAU OF PENSIONS ADVOCATES
- is an independent agency established for sole purpose of providing free legal aid to pension applicants in preparation and presentation of claims
CANADA PENSION COMMISSION
- administers Pension Act and Legislation under which pensions are awarded as compensation for disability and death related to military service
VETERANS SERVICES
- provide a comprehensive counselling and referral service for eligible veterans and their dependents:
WAR VETERANS ALLOWANCE
- income assistance for veterans, subject to modified income test
VETERANS INDEPENDENCE PROGRAM
- veterans prevented from receiving WVA because of income received under Old Age Security Act or similar age related legislation of another country, may now be eligible for VIP benefits
AGING VETERANS PROGRAM
- payment of contributions towards home / health care support services
TREATMENT BENEFITS
- payment of medical cost of prescribed treatment for qualifying veterans
FUNERAL AND BURIAL
- grant towards funeral and burial of eligible veterans, depending upon assets
BOOKLETS
- describing benefits available: - Services and Benefits Veterans Affairs - Pensions Related to Military Service
- Aging Veterans Program
VETERANS AFFAIRS
471 Queensway Avenue, Kelowna, BC V1Y 6S5
470-5174
60 W. Nanaimo Avenue, Penticton, BC V2A 1N1
770-4400
Vancouver, BC 1-800-663-1931

CANADA CUSTOMS & REVENUE AGENCY
The Canada Customs & Revenue Agency (formerly Revenue Canada) provides information on various topics or services relating to Canadian seniors, which is available as follows:
- by telephone at 1-800-959-8281, 8:15am to 5:00pm, Monday to Friday
- by visiting our website at www.ccra.gc.ca
- by visiting your tax services office between 8:15am and 4:30pm, Monday to Friday. The Southern Interior Tax Services offices are located at
200-1835 Gordon Drive, Kelowna, BC
277 Winnipeg Street, Penticton, BC

See the following publications for the information you need to take advantage of tax credits and to fulfill your tax obligations:
- When You Retire
- General Income Tax and Benefit Guide
- RRSPs and Other Registered Plans for Retirement
- Canadian Residents Going Down South
- Paying Your Income Tax by Installments

You can get these publications by calling 1-800-959-2221, visiting our website, or visiting your tax services office.

The Community Volunteer Income Tax Program offers free training sessions to teach volunteers how to complete basic tax returns for low-income individuals with simple tax situations. If you need a volunteer’s help, or if you want to help out in your community, get in touch with us. Call 1-800-959-8281 for information about this free program.

INSTITUTE OF CHARTERED ACCOUNTANTS OF BC, THE
- the Institute provides free assistance with income tax preparation
- clinics held March & April
- persons 65 and over and annual gross income not over $20,000
- must make an appointment with the Centre in your area where the clinic will be held
- appointment is for one person only - couples should make two consecutive appointments
- no drop-in service, therefore no lengthy line-ups
- every senior who makes appointment is assured of having their return completed free-of-charge
- for information, contact the Centre in your area
- for further information on other clinics that may be in your area, check with your local library, senior centre or community centre or call:
6th Floor 1133 Melville Street, Vancouver, BC V6C 2K8
Toll Free 1-800-663-2677