Minister: Change To Financial Assistance Policy
Owning a home will no longer disqualify senior citizens from receiving financial assistance, Minister of Youth, Families and Sports Glenn Blakeney said yesterday [Mar.28]
Minister Blakeney said, “This morning I wish to inform members of the public, in particular seniors, who may be experiencing financial hardship, that the Government will be making changes to the Financial Assistance Regulations 2004 to enable seniors who are homeowners or who have an interest in property to be assessed for financial assistance benefits.
“Some will recall that on the 1st April 2011 the Financial Assistance Regulations 2004 came into effect and changed eligibility criteria such that any applicant with assets exceeding $5,000.00 (inclusive of interest in real property) would not be eligible to receive financial assistance.
“There were 34 seniors who owned property and were receiving financial assistance at the time the legislation changed on 1st April 2011. Those seniors were “grandfathered in” and allowed to continue to receive financial assistance for one year up until 31st March 2012.
“The Department of Financial Assistance has monitored the situation over the past year and is aware that some of our seniors are experiencing financial hardship because they are ineligible to receive financial assistance benefits due to the fact that they are property owners,” continued Minister Blakeney.
“Since the legislative changes went into effect, it has been observed that there has been an adverse impact on seniors who are homeowners or who have an interest in real property, even though the changes in the law made at that time were not intended to disadvantage such persons.
“It was observed that one hundred and twenty-three (123) seniors applied to the Department of Financial Assistance during the eleven month period from April 2011 to February 2012. Seventeen (17) of the seniors who applied for financial assistance (approximately 14%) were found to be ineligible to receive financial assistance benefits because they own or have an interest in property.
“In the November 2011 Speech from the Throne Government indicated that it would review the eligibility criteria for financial assistance in order to ensure that the mere fact of home ownership by seniors does not justify denial of financial assistance.
“Having reviewed the matter, Government has decided to amend the Financial Assistance Regulations 2004 to allow seniors who are homeowners or who have an interest in real property to be eligible to be assessed for applicable financial assistance benefits.
“To that end, I am pleased to announce that, as Minister responsible for financial assistance, I have caused a notice to be published in today’s Official Gazette regarding the coming into operation of the Financial Assistance Amendment Regulations 2012.
“These most recent amendments to the Financial Assistance Regulations 2004 will take effect on 1st April 2012 and will mean that persons 65 years or older will not have their interest in real property factored into consideration by the Department of Financial Assistance when calculating the value of assets for purposes of eligibility to receive financial assistance benefits,” concluded Minister Blakeney.
Donte Hunt, Shadow Minister for Community Development, said, “We are happy for the seniors who will now be helped by the changes. But it comes after so many tales of hardship have been put to the Government – people like Mrs. O and Auntie Em, who suffered for years without help from Financial Assistance.
“The arguments for expanding access to financial assistance for struggling seniors who owned their own home or had an interest in it have been put by Opposition spokesman for years, dating as far back as Health Minister Patrice Minors.
“The hardships have not fundamentally changed for these seniors, yet only now in the shadow of an impending election does the government finally extend a helping hand. Good for them, but people’s needs not political needs should be what drives decisions such as this,” said Mr Hunt.
Like fish out of water – flipping and flopping.
Yes…and vote buying. PLP offer NO vision, so they just bring our the taxpayer wallet to buy their votes. Very third world!!!!
Why now???? There’s certainly an election in the air! I hope seniors and everyone else can see thru this bull crap!
Don’t you know their known is flipPLoP?
I can’t afford a house, yet my taxes are going to subsidise those that own houses. Makes perfect sense to me.
Have you tried saving your money? Have you sacrificed material things? Have you skipped treating yourself to each and everything your heart desires? Have you stopped having the latest, best, better than your neighbor, keep up with the Jones mentality? Obvously not because you would be in a position to have your own home.
My Grandparents sacrificed their whole lives to make sure that their family was provided for and at the same time stashing away a little bit, never borrowing money for anything, eating home cooked meals three times a day, seven days a week, and building a small Bermuda home room by room out of pocket while living in the room by room cottage they built. They knew the long term goal – their future security and the security of their children. They didn’t live beyond their means. I only remember them taking 5 or 6 trips im my lifetime (and I am now a Grandparent) and it wasn’t for shopping it was to see the graduations of their children/grandchildren. The only time they ever ate out was when we took them out. Up until they passed away they still lived very frugally. Their “finer things in life” came from their children and grandchild’s success, and if it wasn’t for us supplementing their income they would have never survived based on my grandpa’s pension based soley on the fact that the cost of living has drastically increased over the years of his retirement.
So many people like you have no respect for our seniors and their plight.Maybe if more people took the time out to ensure that their senior relatives where looked after they wouldn’t need to go to financial assistance. Do you really think for one minute that our seniors, who grew up EARNING a keep not being giving everything on a silver platter, really like the idea of having to rely on handouts?
So before you blame our seniors who build this country through blood and sacrifice, blame people like yourself who should be glad to give them any form of assistance that they need.
People like you are absolutely deplorable in my book!
As usual flip flopping away resisting something that make sense.
Just because a senior, or anyone else for that matter has a house, does not mean that they have money. Many have scrificed all of their years to get into a position of actually owning, mortgage free, a house.
They have not gone out to restaurants on a regular basis. They have not traveled the world. They have not bought a car every five years. The car they drive is a small modest car. They don’t have the latest smartphone.
Sacrifices. They have made sacrifices. Meanwhile there are those who have rented all of their lives, traveled the world & all the rest above, who now want taxpayers to support them in their retirement years because they have not saved anything during their working years.
Thank you “Triangle Drifter” ! All the “naysayers” need to realise that one day they will be a senior citizen and may need some form of asssitance. Always ready to “beat down” and critique an idea that has been put in place. Always ready to make it a political issue, always ready to make it personal. Always so ready to verbally attack but never can give a solution!!!! I love my seniors!!! Many of them have paved the way for many of the things that some of us may take for granted. If this is a way to ease some of the burdens that they may be facing then I am 100% behind it…..No one knows what their future holds…..you can start out with a seemingly perfect plan and circumstances can change all of that in a blink of an eye……
I am just wondering and not saying they should but what if they sold their home and bought a small one . I know of a lady somthing similiar she sold a part of her property. Also the people that this house is going to should be the ones ashamed they should take care of them. But too many are selfish. Just a few thoughts
I would rather pay my taxes knowing seniors were being looked after (house owners or not) than pay my taxes for this Government to squander on contracts for things that fall down within a year – Heritage Wharf anyone??
I’m sorry, but I totally disagree with this policy. My feelings have nothing to do with disrespecting seniors or not caring about their plight. I take exception with people saying that if one doesn’t own a home then it’s somehow their own fault. It is the pure GREED of so many landlords that people like me are not in a position to purchase our own home. So many people have homes paid for many times over, yet they are still charging outrageous rents JUST BECAUSE THEY CAN! Back in the day, friends helped each other build each others homes so they saved that way. Try finding somebody in this day and age that will barter to assist you in building a house! In the US they have something called reverse mortgages where elders can borrow against the equity in their homes. Why can’t that be an option for cash strapped seniors? So as a tax payer I’m supposed to support somebody and then somebody inherits their house scot free? I can understand if someone has life tenancy but no cash but if someone owns a home and has options for pulling cash out of it- a big no no! By the way, I haven’t been away in four years, cook all my meals and save wherever I can. However, at this rate trying to save for a down payment is taking forever while home prices climb steeper and steeper with each day. How is this my fault?!!
Thank you “Triangle Drifter” ! All the “naysayers” need to realise that one day they will be a senior citizen and may need some form of asssitance. Always ready to “beat down” and critique an idea that has been put in place. Always ready to make it a political issue, always ready to make it personal. Always so ready to verbally attack but never can give a solution!!!! I love my seniors!!! Many of them have paved the way for many of the things that some of us may take for granted. If this is a way to ease some of the burdens that they may be facing then I am 100% behind it…..No one knows what their future holds…..you can start out with a seemingly perfect plan and circumstances can change all of that in a blink of an eye……
Yup, an election is definitely close.