Increases to Seniors Income Plan Benefits
For the second year in a row, the maximum monthly benefit provided through the Seniors Income Plan (SIP) will increase by $30 per month.
The maximum SIP benefit will increase from $300 per month to $330 per month for singles and from $265 per month to $295 per month for each pensioner in a married, two-pensioner household, for a total of $590 per month.
SIP provides financial assistance to seniors who receive little or no income, other than the federal Old Age Security pension and the Guaranteed Income Supplement. SIP is a monthly benefit paid to seniors, who receive different levels of support depending on the amount of their pension, taxable income or living arrangement. The benefit is higher for seniors with lower incomes.
The Government of Saskatchewan committed more than $34 million this year to SIP, which supports approximately 14,500 seniors across the province. SIP benefits will increase by a maximum of $30 per month again in 2023-24. This marks the seventh increase government has made to SIP since 2008. Maximum monthly SIP benefits will increase by $30 per month again in 2023-24, for a total maximum monthly benefit of $360.
For more information about SIP, please visit: https://www.saskatchewan.ca/residents/family-and-social-support/seniors-services/financial-help-for-seniors.
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