In important news for people CLBC supports who also receive Persons with Disabilities (PWD) assistance, the provincial government has announced changes that will allow people to hold significantly more assets and receive financial gifts and inheritances with no impact on their monthly assistance.
Beginning December 1, 2015, the amount of assets that people receiving disability assistance may hold without losing eligibility for assistance will rise to $100,000 for an individual with the PWD designation, and $200,000 for a couple where both have PWD designation. Currently, the asset limits are $5,000 and $10,000 respectively.
For the first time in B.C., persons with disabilities will also be able to receive cash gifts with no effect on their eligibility for assistance. Government is also changing the way trust payments are handled and eliminating the $8,000 annual cap on trust payments.
These changes will allow people receiving disability assistance to enhance their financial security, while also giving their families, friends or community groups the opportunity to provide additional support. For full details about these changes, please click here to read the news release.