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April 1, 2021Edition 18 Volume 4In the News HYPERLINK \l "wHAt_does_easterbunny" What Does the Easter Bunny Have to do with Easter?6 Indoor Activities For Seniors for Spring and Easter 2021 HYPERLINK \l "EPIC2021_a_success" 2021 Virtual Elder Planning Issues Conferences a Success & Another Presentation by Romy Terkel, Personal BiographerCIEPS/EPC Updates & Benefits Tax Credits Information for the 2020 Tax YearHYPERLINK \l "No_matter_what5"No Matter What…Part 5 of the Continuing StoryAn EPCs Motivational Speech he Uses with Current & Future Retiree’s HYPERLINK \l "THREEways_Music_isbeneficial" 3 Ways that Music is Beneficial to Your Health HYPERLINK \l "Life_after_covid" What Seniors Want in a Post Pandemic World HYPERLINK \l "Ten_resources_on_healthyeating" 10 Healthy Eating Resources for Seniors & Older AdultsDid you Know that CIEPS/EPC is on LinkedInCIEPS is Looking for Articles for the PULSEPlease Keep Your Contact Information CurrentCIEPS Member BenefitsAlberta EPC Chapter InformationVancouver EPC Chapter InformationImportant Notice Regarding Your EPC Membership DuesCE Requirements When Renewing Your EPC DesignationEPC Membership Renewal ReminderContact Usinfo@EPC Member SiteIf you want to print a copy of any of the PULSE editions, you will find them on your member site.From all of us at CIEPS, we would like to wish you and your families a very enjoyable 2021 Easter seasonWhat does the Easter Bunny have to do with Easter?Walk into almost any retail store right after Valentine’s Day?and you’ll be greeted by a wall of pastel-colored baskets, plastic eggs, jelly beans, and—perhaps most famous of all—chocolate bunnies. You know Easter is coming.Since the 1840s, the Christian holiday of Easter, which celebrates the resurrection of Jesus, has gained secular acceptance in America. There are parades, parties, and elaborate egg hunts—even the White House gets in on the action with its own annual egg hunt on the lawn.While Easter traditions vary, one account says that the Easter bunny brings lucky children treats before dawn on Easter morning. So for children in the West—particularly in the United States—the Easter bunny has become one of the most recognized symbols of this Christian holiday.The Arrival of the Easter BunnyThe direct link between Easter and rabbits was forged sometime in sixteenth- or seventeenth-century Europe.Some trace the word “Easter” to the German fertility goddess Eostra, who in some traditions was even associated with hares.8?However, more and more scholars think it may have come from a Norse word for “spring,” which in the Germanized form is?ostern.In all likelihood, the name of the goddess was also derived from the local word for spring, but it is impossible to say which came first. What is clear is that various symbols for fertility—eggs, rabbits, and lilies—that were already fixed in culture all became firmly attached to the Christian holiday known in Western Europe and North America as Easter.6 Indoor Activities for Seniors for Easter and Spring 2021 published on March 12, 2021 via the Retirement Communities Ltd.Over the past year, COVID-19 has stopped us from enjoying so many gathering with family and friends in person for birthdays, special occasions, and holidays. There is a strong likelihood that Easter 2021 won’t be any different. Fortunately, we live in the digital age and this makes it possible for us to continue interacting with our loved ones,?albeit virtually?and from a distance.If you’re trying to come up with fun and safe indoor activities for seniors living in?retirement communities in Ontario, we’ve prepared a list of great options that can be done virtually.1. Stream Online Religious ServicesEaster is a time for families to gather, and for many it is also a time to reflect upon religious significance of the day. Traditionally, many families spend the week going to church surrounded by their fellow congregation members.These services usually have a large turnout and can sometimes be held outdoors. Unfortunately, this year—like last year—will be a little different. Depending on the lockdown restrictions in place, stay-at-home orders may still be required. However, many churches will be offering virtual services for their congregation to watch from home. Contact your church via phone, email, or visit their website for Easter service updates and live streaming information.2. Do Easter Crafts Virtually TogetherCrafts are another fun Easter tradition that many families enjoy doing together.?Crafts?are a great way for seniors to hone their creative skills and make new memories with their loved ones. Supplies and kits are also inexpensive and can be purchased in bulk or individually at pretty much any big box or dollar store in your area.Most Easter craft kits include everything you need to make them as well as include detailed instructions. Plus, you can set up a web cam for your aging loved one and maybe even their neighbours, so that they can participate in a virtual Easter art class together.Here are a few great Easter crafting ideas and activities for seniors:Decorate plastic or hardboiled eggsMake colourful Easter egg garlandsDecorate flower plantersMake tabletop Easter treesBake Easter cookies and other treatsDecorate a pre-made birdhouse3. Attract Birds With A Do it Yourself BirdhouseAfter a long, cold, and particularly difficult winter along with a pandemic that forced many people to spend the majority of their indoors, there is nothing quite as satisfying as hearing the sounds of spring. The sound of birds chirping outside is one of the most recognizable and uplifting sounds that people associate with this time of year.Depending on how many Community Members are participating in this project, you could position the birdhouses in a common area such as on the grounds of the common outdoor space.4. Organize A Spring-Cleaning SessionSpring cleaning can be an extremely satisfying and cathartic experience, especially for people who feel like they have an overwhelming amount of stuff. Easter is a time of renewal and rejuvenation. Getting rid items that you no longer need or want can feel like lifting a major weight off your shoulders.Encourage your loved one and even their neighbours to clean out or donate items that they no longer use. This can be turned into a fun game or activity for seniors. It keeps them moving and it can also elicit happy memories of previous experiences.Helping a senior go through their belongings is also a nice bonding experience for your relationship as certain sentimental items and photographs might have special stories attached to them.5. Play Easter Trivia GamesPlaying virtual Easter-themed trivia games with your loved one who lives in a retirement community is another great way to pass the time while in lockdown or quarantine. Whether they’re well-known games with an Easter twist or brand new, the point is that you’re spending quality time together!A quick online search will help you come up with a bunch of Easter trivia questions and answers that you can use for inspiration. Try to make it as fun and creative as possible. Participating in trivia games is beneficial in so many ways as it can stimulate brain function and even uplift your elderly loved one’s mood just by spending time with you.6. Watch Beloved Easter Movies TogetherHere is a list of beloved Easter movies that you can watch virtually with your loved one:The Prince of Egypt (1998)The Ten Commandments (1956)Ben Hur (1959)The Passion of the Christ (2004)The Robe (1953)King of Kings (1961)Risen (2016)Wallace and Gromit: The Curse of the Were-Rabbit (2005)Jesus Christ Superstar (1973)2021 Elder Planning Issues Virtual Conferences (EPIC) A Success!Judging by all the feedback we received, the recent EPICs were an overwhelming success. Thank you to all the sponsors, presenters and EPCs who supported them. If you didn’t get the chance to attend these conferences, we are looking at holding a couple more this year. Keep checking back for more 2021 dates.One of our presenters, Romy Terkel M.Ed., M.A. Personal Biographer and owner of Fingerprint Legacies will be doing another virtual special presentation on April 14, 2021 at 1PM EST. You can find out more Information on Romy Terkel Presentation and REGISTER NOW CIEPS/EPC Updates and BenefitsWe are in the process of adding some more EPC Member Benefits and partnerships for you. Stay tuned as we form a few more partnerships with companies that will benefit you and your businesses.Updated 11th Edition EPC Materials are NOW AvailableThe revised 11th edition of the EPC materials are available now for you to update your elder knowledge and provide the best information that you can for your clients, prospects, and families. You can now purchase the updated 4 manual EPC 11th Edition Desk Reference Manuals, and the 11th Edition EPC PowerPoints to add to your library of knowledge. They are available for $159 + taxes and includes shipping.If you reside in AB, BC, SK, MB, QC, NT, NU or YT, ?your cost is $166.95, ?all taxes & shipping included.If you reside in ON, your cost is $179.67, all taxes & shipping included.If you reside in NS, NB, NL, or PE your cost is $182.85, ?all taxes & shipping included.You can order them securely here - 11th Edition EPC Desk ReferencesTax Credits Information for 2020 Tax Year…submitted by Peter Wouters RFG., AIAA., ARP., TEP., FLMI., RHU., CFP., CHFC., ACS., ALHC., CPCA., CHS., AFSI., EPC - Founding Faculty Member & CIEPS Faculty ChairThe following Tax Information comes to us from Burlington Age Friendly Council and Community Development HaltonDid you know even if you have no taxable income you could receive tax free money? ( 2020 Income Tax)Yes, as a senior (65 and older) you can, depending on your total 2020 income, but you have to file your income tax return for these refundable tax credits and for prior years if you have not filed previously.If you have limited income and you need help to prepare your tax return, free assistance is available. Call Revenue Canada at 1-800-959-8281 or check with a community help organization in your neighbourhood for volunteer tax clinics. Information is attached about free volunteer tax clinics in Burlington.This is a summary of year 2020 tax free credits payable to seniors who file income tax returns.1. Ontario Energy and Property TAX/RENT Refundable CreditsA senior individual or couple owning or renting a home can receive these credits depending on 2020 income and property tax/rent paid. You could receive a maximum of $1,236 payable monthly $101 starting July 2021 if your 2020 income does not exceed $30,142 (individual) and $36,172 (couple). This credit is fully phased out for 2020 income over $91,943 for individuals and $97,972 for couples.2. Ontario Senior Homeowners’ Property Tax GrantA senior (individual) with 2020 income under $35,000 (couple under $45,000) who own a home can receive a property tax grant maximum of $500. This grant is eliminated at 2020 income over $50,000 (individuals) and $60,000 (couples).3. Ontario Sales Tax CreditStarting July 2021, an individual whose 2020 income does not exceed $24,115 (for couple $30,143) can receive $26 monthly (couples $52). This credit is eliminated for individuals with 2020 income over $31,940 and $45,793 for couples.4. Ontario Senior Public Transit Tax CreditThis tax credit is based on 15% of eligible Ontario transit costs. These are fares paid for short haul/day trips by bus, subway, train and specialized public transit services for seniors with disabilities. Not eligible are fares for using long haul services such as Via Rail or Greyhound Bus. Maximum claim is $3,000 for a maximum credit of $450.5. Federal Goods and Service Tax CreditIf your 2020 income does not exceed $38,507, starting July 2021, and every 3 months following to April 2022, $74 can be received. If your spouse/partner’s income does not exceed $38,507, you will receive $142 every three months. This credit is reduced by 5% of the amount of your income and if your spouse/partner’s exceeds $38,507. This tax credit will be calculated by Revenue Canada based on the information in yours and your spouse’s/ partner’s tax return.FEDERAL HOME ACCESSIBILITY TAX CREDIT (2020 Income Tax)This tax credit is available for the benefit of a senior or a person with a disability (who is eligible to claim the disability tax credit). This credit reduces Federal income taxes payable to a maximum of $1500. It is also available to the person’s spouse or common law partner if that person with the disability has no net income for 2020. The credit is calculated at 15% of qualifying renovation expenditures (maximum $10,000) to a person’s owned and occupied housing residence (and share of the capital stock of an occupied unit of a co-op housing corporation) to improve mobility and reduce the risk of injury. PROPERTY TAX RELIEF FOR HOMES THAT ARE BUILT OR MODIFIED TO ACCOMMODATE SENIORS OR PERSONS WITH DISABILITIESA property taxpayer who informs MPAC ( Municpal Property Assessment Corporation) that their home has been built or modified to provide a place to live for a senior or person with a disability, or a garden suite has been erected, the expenditure verified by MPAC will qualify for property tax exemption.The exempt portion is not included in the assessment roll for the next taxation year and no taxes are charged against it. If MPAC had assessed the home as entirely taxable for the current or prior taxation years, and the owner is now applying for the exemption, the owner should contact their municipality to see if they qualify to receive a tax rebate for the prior taxation years.FEDERAL & ONTARIO DISABILITY TAX CREDIT (2020 Income Tax)You are eligible for the disability only if a qualified medical practitioner certifies on form T2201that you have a prolonged impairment and that the effects are such that any one of the following applies:You are markedly restricted in any one of the following:SpeakingHearingVisionWalkingEatingDressingElimination (bowel or bladder functions) orPerforming the mental functions necessary for everyday life.This tax credit (not refundable) reduces income tax payable by $1719 for 2020. If the person applying has no taxable income, the credit can be transferred to another relative who provides support.No Matter What – Part 5 – This is My Sister… submitted by Wendy Poole, Author & CaregiverIn April, our case worker phoned to say that one of the two long-term care centres we had previously viewed and selected, now had a room for my mum. She would be, if I approved it, initially placed in what was referred to as, their retirement home section. It was for people, who, for whatever reason, could no longer independently do things like laundry, or housekeeping, or perhaps make meals for themselves. She would be safe and cared for.They had done this before. Both she and the centre believed that my mum could manage this. It was an interim solution. Once they had a vacancy in the Alzheimer unit; she would be moved. A doctor would make weekly visits and there were nurses, PSW’s and trained staff to monitor as well as help her as needed. It was mentioned, and I did remember this from our visit to the centre, that it was not a locked area. The residents walked down a hallway that led to the dining room and snack room, and further down was the office, Lobby and main entrance to the centre. The Lobby area was monitored, and the front door required a code or buzzing for staff to open it in order to enter or leave. If someone like my mum walked down that far, a staff member would either walk them back or redirect them back to the unit. We went for a second visit.The movers came and loaded up the few items she would have in her room. The only hesitancy my mum expressed to me on her final morning at the apartment, was that she thought she might be too much or too little for them. That turned out to be a very prophetic statement.Her room had a window that looked out on a garden area, private bathroom, plus an incredibly large closet! We unpacked, then sat in the lounge area, watching other people watching TV, playing chess or cards, and chatting. This was, I thought, the right decision.Not quite two weeks later, I was walking to my car when my cell phone rang. Standing in a mall’s parking lot, I tried to take in what the centre’s director was telling me. My mother was going to be moved that afternoon to the second listed long-term care centres’ Alzheimer unit. That morning the centre’s director, had been driving back from a meeting, was approaching the centre’s driveway, when she noticed, up ahead, a woman standing in the middle of the road, waving at a passing car. It was my mother! The director continued down the road, stopped beside my mother, asked her what she was doing. My mother replied, “I’m going to Toronto and getting a job.”I almost laughed. My mum, I said, when she was a teenager, had actually done just that. Hitchhiked to Toronto and found a job in a factory. There was a brief silence before the director continued. Eventually, she was able to persuade my mum to get into her car. The other centre agreed to take her on an emergency basis because they had a room in their Alzheimer’s locked unit. She finished the conversation by saying, she had no idea how my mum managed to get out. This had never happened before.When I phoned the second long-term care centre to find out about my mum, I also said I was going to drive down and see her. Their advice was to wait until the next day and call them first to see how she was adjusting.The next day, I stood in front of the locked entrance to the common room and buzzed for a staff member to open the door. She welcomed me, and I stepped inside. This common room had a very different feel from the previous home’s lounge areas. It was definitely institution décor. Insipid wall colour, with tables, chairs, couches, and TV. All placed on tiled floors, floors that sort of matched the painted walls. There was another area, called the Solarium, on the other side of the wing.“There she is,” said the staff member. Mum was sitting in a chair, her arms and legs crossed. She gave me a vacant stare. All I could think was, she looks upset.It was suggested we all walk down to see her semi-private room. It was a small room with a single hospital bed , side table and chair, with a small cupboard for clothes and personal items. It was classed as semi-private because the large full-sized bathroom had a door on the opposite wall that connected to another person’s room. Then we walked down to see the Solarium. Except for very large windows that looked out on some trees and a stream, it’s décor was as bland as the other common room. When the visit was over, my mum and I waited by the locked door for a staff member to open it. As we waited, my mum placed her hand on the keypad, her fingers lightly touching each of the numbers and said, “You know, people stand here and touch these numbers before the door opens.” It might have been within a week, I honestly don’t remember, but I do know I saw her one more time before the apartment phone rang and once again, I was told that my mum had been transferred. This time it was to the local psychiatric hospitals’ Alzheimer wing.Her behavior, they felt, had become ‘chaotic’. On the previous afternoon, the two of us had sat on a couch in the common room; she seemed tired, there was very little conversation, and we both just stared at the TV screen. How chaotic was that? What changed?I was informed that that evening there had been an incident between her and another residents’ family member. She had actually physically struck this person The decision to move her occurred because the next morning, she told the psychiatrist assessing her, that, anytime she wanted to, she could leave. They were having this talk in the Solarium. When asked how she would accomplish that, she stood up, walked over to a fire extinguisher, turned to him and said, “I could take this and throw it through that window, jump out, and you’d never find me.”By Fall of that year, the apartment had been sold, I was back at work, and every week-end I would make the drive to see my mum. Sometimes I’d stay overnight at my cousins, and sometimes I’d just drive home. Sometimes my husband and our kids would also make the day trip.For Christmas that year, I asked if my family and my cousin’s family , nine of us in total, could visit my mum. Because we were a large group, they said we would be put in a meeting room. I asked if it would be possible for us to bring in food. The meal I brought was from Swiss Chalet, and we all brought a few gifts for her to open. It was a good family Christmas. Just before that Christmas, our medical social worker, Fran, suggested that my mum might be able to move back into a long-term cares’ Alzheimer locked unit. But by January, that was no longer a possibility. What was being acknowledged at this point, explained Fran, was that each time they thought my mum was stabilized, that the newest medication was working, suddenly, it would not be working. She was reacting to the medication! The reality was, that possibly there were no medications to help stabilize her and she would have to remain where she was. That Spring, my husband and I took a two-week holiday. My mum, the first time I went to see her said, “how nice of you to come,” as she smiled at me. Over the next few weeks, each time I‘d visit we’d walk the long hallway and stop to look at the dollar store paintings. She would hold my hand , or we’d walk arm in arm, up and down that hallway. One time, she stopped, and said, “We must do this more often.” She’d introduce me to staff as her sister. She would call my husband Bruce when he came. His name is Jim, but her sister’s husband was named Bruce. At least we were members of her family.Occasionally I chatted with other residents if they were also doing a hallway walk. And sometimes we’d just quietly sit in the Solarium area, and sometimes she would fall asleep for a few minutes, then wake-up and tell me what a wonderful surprise it was to see me, before we’d once again start our walk down that long hallway.And then one morning at home, the phone rang. It was Fran, “Wendy, your mum is going to be transferred to a long-term care home that has a separate, and locked, Alzheimer’s unit.”Motivational Speech Prepared for Current and Future Retirees… submitted by Charran Hetram BA Hons., M.Ed, CFP, EPCIt is good to be here to talk about the challenges and opportunities faced by current and future retirees. If obstacles must be overcome by retirees, then attention must be paid to all phases of retirement: savings, budgets, tax shelters, sources of retirement income, mortgages, and investments. Canadians are living longer, to the average age of 70-80 years, due in part to the discovery of numerable health products that allow them to enjoy the fruits of longevity. Even as we face sometimes insurmountable challenges, with persistence and tenacity we will be able to reach the Promised Land, a land that hopefully is full of milk and honey, which will sustain us in a vibrant and meaningful way. Many naysayers have branded us retirees as moving toward a path of loneliness, isolation, demise, and destruction. It has been said that you are considered old when you have all the answers, but no one is asking the questions. So instead of a wasteland, fellow retirees, let us ask the right questions and move toward the green, green grass of home with all its luxuriant growth and exuberant display of richness and abundance. As a Certified Financial Planner (CFP) interacting with current and future retirees, I have encountered a barrage of questions with repeated frequency. QUESTION 1: Explanation, clarification, and differentiation needed on the following: Financial Planning Financial Planner Financial PlanFinancial Planning The Financial Planning Standards Council (FPSC) states: “Financial planning is a disciplined, multi-step process of assessing an individual’s current financial and personal circumstances against his future desired state and developing strategies that help meet his personal goals, needs and priorities in a way that aims to optimize the allocation of his resources….Financial planning is an ongoing process involving regular monitoring of an individual’s progress toward meeting his personal goals, needs and priorities, a re-evaluation of financial strategies in place and recommended revisions, where necessary1” (12). Financial Planner On this subject, the FPSC states: “A financial planner is an individual who possesses the requisite knowledge, skills, abilities and professional judgement to capably provide objective financial planning advice at the highest level of complexity required by the profession. He must agree to be accountable to a professional oversight organization’s practice standards and code of ethics that include an obligation to put his clients’ interests before his own”2(12). Financial Plan Again, with reference to the FPSC: “A financial plan is a written report that addresses an individual’s personal goals, needs and priorities. It takes into account relevant financial planning areas and the interrelationships among them….Each section of the financial plan covers the individuals current financial situation, the analysis performed to identify issues and opportunities, the evaluation of relevant financial strategies and recommendations to help meet the individual’s personal goals, needs and priorities….A plan provides a list of action steps, including what needs to be done, by whom and when.”3QUESTION 2: Discussion of Tax Shelters that contribute to saving money and deferring taxes: Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), Registered Education Savings Plan (RESP), Tax-Free Savings Plan (TFSA).In order to take advantage of these tax shelters money has to be saved and invested. In doing so, we defer or avoid paying income taxes. It is well-known that to increase your savings, as P.T. Barnum aptly states, “there is more satisfaction in rational saving than in irrational spending.” Repeatedly, you must differentiate between needs and wants. In fact, it is a double-edged sword between instant gratification and measured procrastination. Regret should be absent in our thoughts; in fact, make it a rule of life never to regret and never to look back. Regret is an abominable waste of energy; you cannot build on it, but merely wallow in it.Here is some information on each of these tax shelters from A Canadian’s Guide to Money-Smart Living:2 RRSP – REGISTERED RETIREMENT SAVINGS PLAN Government incentives are structured to motivate you to save for your retirement. Investments grow on a tax deferred basis. Tax deductions are gained when contributions are made. Withdrawals from the RRSP are taxable, except for Lifelong Learning Plan and Home Buyer’s Plan RRIF – REGISTERED RETIREMENT INCOME FUND Once you’ve turned 71, your RRSP has to be converted into RRIF. In regard to your age and the value of the RRIF, government has mandated a minimum yearly amount, which must be withdrawn from the plan. All amounts taken out are subject to tax.RESP – REGISTERED EDUCATION SAVINGS PLAN Designed to assist parents to save for their children’s post-secondary education. Government will match 20 percent of your RESP investment up to a maximum of $500 a year and a lifetime maximum of $7200. No tax deduction is given, but the plan grows on a tax deferred basis. When your child uses the RESP, the withdrawal is taxed, however, these taxes are likely to be insignificant or nonexistent because the child is a minor with little or no taxable income.TFSA – TAX FREE SAVINGS ACCOUNT Contributions in the TFSA are subject to an annual limit. Starting in 2009 ($5,000 each year from 2009 to 2012, $5,500 in 2013-2014, $10,000 in 2015, $5,500 in 2016-2018 and $6,000 in 2019 and 2020). Since the inception of the TFSA, which started in 2009, contribution room accumulates. If no funds were contributed at the start of the TFSA account, then appropriate amounts can be deposited. (i.e., you could contribute $69,500 in 2020 if you hadn’t contributed any funds since TFSAs started in 2009). Your money grows tax free. No tax deduction. Similar to other tax shelters, investments can take place in a variety of assets. Withdrawal of funds can occur at any time.4QUESTION 3:Sources of Retirement Income: OAS, CPP, GIS, Pension Funds.OASYou will qualify for a full OAS if the following conditions are met: In order to receive OAS one has to live in Canada a minimum of 10 years after the age of 18. At this point, recipient is entitled to a partial OAS, and then a full OAS if the recipient has lived in Canada for at least 40 years after the age of 18. The recipient’s taxable income is under $79,845 in 2020. For every dollar above this amount, you will lose 15 cents of OAS up to roughly $129,075 at which point your OAS will be nil. If the recipient delays receiving the OAS from age 65-70, the recipient will receive 36% more or a maximum of $10,044.27 a year.The five best ways to maximize OAS would be: first, split income between two parties as much as possible in order to ideally keep both individuals’ net incomes under $77,000; second, use all tax deductions possible to lower taxable income; third, when drawing investment funds to cover your cash flow, consider drawing TFSA or non-registered assets, which will not incur any taxable income, rather than drawing extra funds from RRSP, RRIF or corporate account; fourth, lower your taxable investment income; fifth, shift income earlier. If you’re under 65 or if you are planning on deferring OAS, this would apply up to age 70. If OAS benefits are deferred until age 70, there will be an increase in pension of 36 percent.5 CPPIf CPP benefits are deferred to age 70, there will be an increase in pensions of 42 percent.GISThe Guaranteed Income Supplement is payable to recipients who receive OAS, but only if their retirement income is below a certain minimum. The OAS and GIS ensures that even the least well-off Canadians will have enough money to meet the necessities of life, even if they haven’t saved at all for retirement. Some critics have stated that the GIS should be replaced by a universal basic income in order to combat seniors’ loneliness and isolation; it might provide a means of liberation and dignity for them.Pension FundsMost retirees usually have a choice of two types of pension plans: defined benefit and defined contribution. In a defined benefit pension plan, the benefits are defined by a formula that usually relates to time spent in a job or career and the income received. Because the benefit is fixed, the cost to fund the plan will vary for a number of reasons, but especially because the discount rates used to determine the liabilities will change and the investment returns on the pension fund assets will generate both gains and losses over time. Companies experiencing problems in handling defined benefit plans might abandon them in favour of defined contribution (DC) pension plans in which the employer contribution is fixed at a given percentage of pay. There are no surprises for the company or its shareholders, but that is because all of the risk is shifted to employees whose pensions are no longer fixed.QUESTION 4: The give and take of reverse mortgages.Many potential retirees are cash poor and house rich. Suddenly it dawns on them that they do not have the financial resources to cover day-to-day expenses. What are they to do? They can either sell the home and rent, downsize, or solicit funds from their friends and/or family. However, they are emotionally attached to their homes and they want to remain there. They think the best solution would be to obtain a reverse mortgage.With a traditional mortgage, the lender advances the money and starts receiving blended payments of interest and principal from the borrower. In a reverse mortgage, the principal and interest aren’t repaid until the house is sold. Reverse mortgage rates also reflect the risk that a home loses value between the time the mortgage is arranged and the future sale. Many consumers are unaware of the terms and conditions of this financial product, exposing them to the following risks of the following: Overborrowing.Debt persistence.Uninformed decision-making.Wealth erosion.The interest rate on reverse mortgages are usually higher than the regular mortgage rates. Most retirees realize that the most practical way to get the money required is to tap into their home equity. Usually, their acquired credit lines are up the maximum and the income from the CPP, OAS, and GIS payments were insufficient. Most retirees acquire the reverse mortgage as the only option available to keep them in their homes. It might not be the best solution, but at least for a limited time they can remain in their homes and enjoy their familiar surroundings.6 QUESTION 5: Financial LiteracyOver the years, throughout the public primary and secondary school system, financial literacy has been sadly lacking. Repeatedly, people would ask: “When will the government get involved?” To solve this problem, the Ontario government has unveiled an updated elementary math curriculum. Financial literacy on a limited basis is included.Here are some of the expectations in the new curriculum:Grade 1: Identify the various Canadian coins up to 50? and coins and bills up to $50 and compare their values.Grade 2: Identify different ways of representing the same amount of money up to Canadian 200? using various combinations of coins, and up to $200 using various combinations of $1 and $2 coins and $5, $10, $20, $50, and $100 bills.Grade 3: Estimate and calculate the change required for various simple cash transactions involving whole dollar amounts and amounts of less than one dollar.Grade 4: Identify various methods of payment that can be used to purchase goods and services.Grade 5: Describe several ways money can be transferred among individuals, organizations, and businesses.Grade 6: Describe the advantages and disadvantages of various methods of payment that can be used to purchase goods and services.Grade 7: Identify and compare exchange rates and convert foreign currencies to Canadian dollars and vice versa.Grade 8: Describe some advantages and disadvantages of various methods of payment that can be used when dealing with multiple currencies and exchange rates.7Additional ResourcesMilevsky, Moshe A. Your Money Milestones: A Guide to Making the 9 Most Important Financial Decisions of Your Life. Upper Saddle River: FT Press, 2010.Sellery, Bruce. The Moolala Guide to Rockin’ Your RRSP: Start Rockin’ in Five Easy Steps. Vancouver: McClelland & Stewart, 2013.Vettese, Fred and Bill Morneau. The Real Retirement: Why You Could Be Better Off Than You think, and How to Make That Happen. Mississauga: John Wiley & Sons, 2013.Source Notes1. Canadian Financial Planning: Definitions, Standards & Competencies. Copyright ? 2015 Financial Planning Standards Council and Institut québécois de planification financière. P. 122. Ibid, p. 123. Ibid, p. 134. Keehn, Kelley and Alex Fisher. A Canadian’s Guide to Money-Smart Living. Copyright ? 2019 Chartered Professional Accountants of Canada. Toronto: Cormorant, 2019.5. Rechtshaffen, Ted. “How a couple can collect the maximum OAS of $19,600.” Financial Post, 2 May 2019.6. Rob Carrick. “The give and take of reverse mortgages.” The Globe and Mail, 25 October 2019.7. A detailed description of financial literacy as part of the curriculum can be found at: Ontario Mathematics Curriculum Expectations, Grades 1-8, 2020; Strand F -- Financial Literacy. Ways Music is Beneficial to Your Health from an article posted in the McMaster University Portal on Mar. 15, 2021Given the deep connection that most of us have with music, it should come as no surprise that researchers around the world continue to investigate music's therapeutic benefits.?Besides being enjoyable to listen to, music can help to improve walking speed, reduce anxiety around hospital stays, and improve overall behavioural issues in people with dementia. Music is a safe, simple, and inexpensive strategy; however, it continues to be an underused tool. Whether for yourself, or a loved one, consider incorporating more music into your everyday life and enjoy the many benefits it provides.?Music can improve walking speedWalking speed and “gait” (pattern and manner of walking) are important for optimal aging. Whether you realize it or not, you may be training yourself for a longer, healthier, and more active lifestyle by listening to music while you walk.?Music can help ease your hospital stayDespite remarkable medical advancements, surgery can be scary, and time spent in hospital will likely be challenging. Music therapy is a safe, non-invasive, and inexpensive complement to medical treatments. It can help lower anxiety and pain for patients and may also ease depression and fatigue.?Music can improve social and mental well-being in older adults with dementia and their caregiversStudies show that listening to music allows older adults with dementia to be calmer, which indirectly helps to reduce caregivers’ levels of stress. Group music therapy sessions led by a trained music therapist also help reduce caregivers’ anxiety by allowing them to express and share their feelings. What’s more, music can enhance the relationship between a caregiver and an older adult with dementia, allowing them to enjoy a common activity that is pleasant.Life after COVID-19, What Older Consumers Want in a Post-COVID-19 World…from an article found on Survey methodology - An average of 400 U.S. and Canadian residents participated in eight online surveys fielded between June 10 and July 28, 2020. Respondents were all members of Revolution55, an online insights community of Age of MajorityThe Post-Pandemic World for Active AgersRecent events have caused a significant shift or accelerated trends in the way active older consumers work, live, and play. Ground-breaking new research with North Americans aged 55+ from Age of Majority and Revolution55 reveals unique opportunities for brands to engage older consumers in a post-pandemic world.This research report covers eight main areas of Active Agers’ spending habits and lifestyles across travel, health & wellness, working & volunteering, housing & retirement, entertainment, socialization & communications, and food & beverage.You can view all the information from the study here – 2020 COVID-19 Whitepaper10 Canadian Resources on Healthy Eating for Seniors and Older Adults…from an article found on the webEating healthy can be challenging for?anyone—but as we age, other factors can make nutrition especially hard.1. Guide to healthy eating for older adultsHaving trouble swallowing or chewing food? Feeling unmotivated to cook and eat healthy when living alone? Want tips to save while grocery shopping??This?guide from Dietitians of Canada?is chock-full of information to educate and fortify you.?2. Increase flavour, not your sodium intake?Did you know? As we age, we may not taste food the same way we used to.?Rather than add salt (which can greatly increase your sodium intake), check out these?other ways to make your food more flavorful.?3. Grocery shopping programs?Has shopping for groceries become too difficult? Ottawa is home to many programs that offer grocery shopping services for seniors and people with disabilities!?Learn more at?Champlainhealthline.ca. Plus, the Good Companions – Community Support Services provides an?escorted bus service to grocery stores!?4. Canada’s food guideHealthy eating is critical for aging well!?The Government of Canada updated its national food guide in 2019 and has a special educational section just for seniors. Get tips on drinking water, creating an emergency food supply, and more:?check it out here.??5. Take your vitamins! But which ones??What vitamins and minerals should older adults take—and why??This?guide from the Government of BC?is an easy-to-read resource that explains the importance of vitamins B12 and B6, calcium, vitamin D, iron, magnesium, vitamins C and E for healthy aging.?6. Spotting malnutrition in seniors?Why are so many seniors malnourished—and what can you (as a loving family member or friend) do about it??Check out this blog?to learn how to detect signs of malnutrition in your loved one’s life.?7. Overcoming barriers to healthy eating?Learn how age-related changes affect how the body processes food, and how can seniors continue to eat healthy despite those challenges??This blog offers simple yet effective tips for remaining healthy and happy while aging.??8. Get fibre-ized?According to the Dietitians of Canada, higher-fibre foods can make you manage diabetes AND help you feel better.?Here are a bunch of?tasty meal and snack ideas for ensuring you get enough fibre in your daily diet.?9. Consider a meal delivery service?You’ve probably heard of Meals on Wheels.?Champlainhealthline.ca provides a list?here of local similar services for seniors.Meanwhile, if you have the budget, meal delivery services are incredibly popular nowadays! Simply Google “meal delivery” and the name of your city, and you’ll see many businesses come up. Many of these businesses offer significant discounts on your first order, which provides a great option for trying them out without making a commitment. And a lot of them offer meals for special diets.?10. Eat and drink toward healthy bones?Want strong bones and teeth? This?tip sheet from Ottawa Public Health?tells you just how much calcium and vitamin D are found in your favourite foods.Did you know that CIEPS is on LinkedIn?EPC member Paul Fawcett started a group on LinkedIn, and it is now an open group. Why not join it so that you can keep up to date with trending discussions that would be of interest to the Elder Planning Counselor.Join and share with the group here –EPC LinkedIn GroupCIEPS/EPC is always looking for interesting articles from the EPC membership for submission to the PULSEIf you have any interesting articles that you would like to have submitted into the EPC PULSE pertaining to senior issues etc., please send them to me and if suitable, we will put them into the monthly PULSE and give credit where it is due. You can send them directly to me – registrar@Please keep your contact information current with usIn order to help us keep your contact information up to date, so that you do not miss any timely information, renewal notifications and the PULSE monthly email newsletter, please use our Member update form if any of your information has changed. You can access the form here -EPC Member Update Form CIEPS Member BenefitsCIEPS has recently added 2 new member benefits for those EPC members in good standing.Major Hotel Discounts – Now you can use many of our CIEPS hotels across Canada and enjoy EPC member discounts when travelling in those areas. For more information, view here - EPC MEMBER HOTEL DISCOUNTSCARP – CIEPS is pleased to now offer EPC members in good standing a special rate for a 1-year CARP Membership, including a subscription to Zoomer magazine. For more information, view here - EPC/CARP MEMBER DISCOUNTSCIEPS is pleased to announce a new partnership with . They provide professional looking customized certificate and diploma frames for your EPC suitable for framing certificate indicating that you have qualified to be an Elder Planning Counselor. These frames are very reasonably priced and can be ordered directly from . We will ship a certificate directly to the company after you submit your order to them.Go here - EPC Customized Diploma Frames to find out more information and how you can order them.Alberta EPC ChapterIf you live in Alberta and would like to be involved in starting an EPC Chapter please contact Earl Robertson - earl_robertson77@yahoo.ca Vancouver EPC ChapterIf you live in the Vancouver, BC area and would like to be involved in starting an EPC Chapter please contact Bob Watt at rjwatt@If you are interested in starting an EPC Chapter in your area, please let us know. CIEPS will be happy to provide any assistance necessary to get you started.Important notice regarding your EPC Membership dues. Please ensure that your EPC is always in good standing.When you pay your EPC Membership Dues, please include applicable taxes (GST/HST) for your Province of residence.If you are sending a cheque for your EPC Membership, please reference that the cheque is for.Annual renewal fee—$150.00 + Applicable taxes for the Province you reside in. This can be paid by Cheque, Visa, or MasterCard, or email transfer to payments@ and it will be processed for you.If you reside in AB, BC, SK, MB, QC, NT, NU or YT your yearly renewal is $157.50 all taxes included.If you reside in ON, your yearly renewal is $169.50 all taxes included.If you reside in NS, NB, NL, or PE your yearly renewal is $172.50 all taxes included.Not sure when your renewal is? Check the date on your EPC Certificate. The date you passed your EPC Qualification examination is your renewal date each year.We email receipts for renewal payments at the end of the month which you paid your dues.RENEW SECURELY HERE ReminderRemember, only an EPC member in good standing may use the EPC mark, the words EPC Designation, or logo on any advertising, business cards, stationery, signage, voice mail or email. This is in accordance with the CIEPS tenets and standards.CE requirements when renewing your EPC DesignationCIEPS has a requirement of 30 CE credits annually when you renew your EPC membership.Lately we have been receiving questions about the Continuing Education requirements when renewing your EPC Designation.The following should clarify this for you.If you are in a profession that requires CE Credits, then we accept that number of CE hours towards your EPC Membership renewal.If you are in a profession that does not require CE Credits, then you do not require any CE to renew your EPC membership.PLEASE NOTE!Just a reminder that when you use your credit card to pay for your EPC Renewal fees, or purchase anything from the EPC Resource Library, it will show on your statement as CNDIAN INTIVE FOR ELDR ST… Beamsville, ON. With a phone number of 855-882-3427 do not panic, as this is the Elder Planning Counselor Designation (EPC).If you would like to stop receiving this publication, please respond to info@ with the message “STOP MY PULSE!”To contact CIEPS:Canadian Initiative for Elder Planning Studies4438 Ontario Street, Suite 203 Beamsville, ON L0R 1B5 Phone: 855-882-3427Fax: 866-209-5111 ................
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