Service To Help Seniors With Old Age Security (OAS) Benefits

One out of five seniors (382,000) in Canada not receiving their full OAS pension entitlement. A unique no-cost (results oriented) service aimed at assisting hapless low and modest-income seniors to obtain what is rightfully theirs.

PRESS RELEASE
DetectaPension            
Montreal, CANADA H9A 1R5                              
Tel: 1.866.846.4957 (toll free)                  
Fax: 1.802.609.4677            
Mtl: 514.620.7057
www.detectapension.com

Service To Help Seniors With Old Age Security Benefits

Montreal, April 7, 2003

Montreal based DetectaPension recently introduced a new Canadian service that is geared toward assisting seniors (60 and over) to receive their total retirement entitlement from the Old Age Security (OAS) program. Quoting from an article written by Ms. Jen Ross in the Ottawa Citizen Sept 9,01, Mr. Daniel Palladini, the founder of DetectaPension said that "Almost 382,000 low and modest-income seniors are not receiving their full entitlement pensions - Old Age Security (OAS), Guaranteed Income Supplement (GIS) and The Allowance from Ottawa." "The problem is that many seniors are simply unaware they can receive additional monthly benefits and they have not yet been informed that they qualify," said Mr. Palladini.

Up to now, seniors were totally dependent on the Federal Government to respond to the seniors application and annual renewal for the OAS, GIS and/or The Allowance and many seniors are simply unaware that at the present time, they may be entitled to the following:

· The Allowance, payable at age 60 is $893.31 maximum monthly,
· Dual pensioners with a combined net income (not including OAS benefits) of up to $24,336 qualify for the GIS,
· A pensioner whose spouse is under 60, with a combined income of $31,584 (not including OAS benefits) qualify for the GIS,
· A pensioner with little other income whose spouse is 60-64 can receive a maximum combined monthly OAS payment of $1,618.28,
· A minimum of only ten (10) years residence in Canada qualifies a senior for the OAS, regardless of their present country of residence

These are but some of the reasons why an estimated 20% of eligible and known seniors are not receiving all of the benefits that they should from Ottawa.

The intent of DetectaPension is to inform seniors about the OAS benefits and to encourage them to either contact the Federal Government to apply, or have the evaluation and possible subsequent application to the government performed by DetectaPension at no cost or obligation to the senior. A fee is only charged if its services result in an increase in the applicants monthly benefits and is 25% of the increase over a twelve-month period. It should also be noted that at the present time, OAS benefits are paid retroactively for up to eleven months. The site also includes both "Help" and "FAQ" pages as well as links to other recommended sites for seniors.

All DetectaPension application forms can be downloaded from its web site – www.detectapension.com. Along with the completed forms and a document authorizing DetectaPension to act on the applicants behalf, minimal information from the last income tax report filed is then required in order to submit a revised application to the federal government.

DetectaPension service also includes a search to uncover forgotten or overlooked private company pension plans in Canada or the USA.                                           
###