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Benefits for Individuals over 65!
Updates and Clarifications from our July 1st Q&A Session
If you are over age sixty-five this information may help you save some good money in ways you didn't necessarily expect.
The link below will lead you to an updated version of the handout from our last Q&A on Benefits for Individuals over 65 in Ecuador, so even if you were at the presentation we recommend that you use this newer version for your reference.
Here are a few very good questions we have received that merit public clarification:
* Do the income and net asset limits affect access to all the benefits? No! The benefits related to taxes are the only ones that impose income limits, and those vary slightly depending on the type of tax. Furthermore, if you are making more than the established income limit, you generally receive your benefit up to that limit in any case. Details below.
* Does my passive and/or overseas income count toward the limit? Yes. Pensions from certain Ecuadorian agencies may be deducted (by Ecuadorian citizens) but foreign Social Security payments, investment income, etc. are all taxable.
* Can I get discounts from non-Ecuadorian airlines? Yes. There are a number of international airlines that have a recognized branch in Ecuador, pay taxes in Ecuador, and are subject to Ecuadorian law. If you buy tickets from them within the country they are obligated to offer Ecuadorian benefits.
We hope that clears up any confusion or misconceptions left over from the previous info session. Now here's a link to the rest of the info for any of you who couldn't make it, or who spilled coffee all over your handouts… You know who you are. http://www.ecuaassist.com/benefits-for-seniors/ For more articles full of useful information check out our blog: http://www.ecuaassist.com/blogs/
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EcuaAssist - Expert Services for the Expat
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In some countries the elderly much too often are seen as a drain on resources, both personal and of government funds; in countries such as Ecuador they are treated with a special respect expressly coded in the Ecuadorian constitution.
How I wish my country would learn from that - instead of watering and cutting benefits seniors worked for.
Senior/Retiree Benefits in Ecuador
With the 2008 Constitution there is no distinction between nationals and foreigners with regards to civil rights. Article 15 of the Ley del Anciano (Law pertaining to Senior Citizens) states the beneficiaries of this Act are those individuals who are 65 years old and over, whether a national or a foreigner, who are legally established in the country (those who have Ecuadorian residency).
The following are some of the benefits for Ecuadors 65 & over discount program:
Tourist attractions you would no longer pay the foreigner price but that of Ecuador. For example the Galapagos would only cost $6.00 to enter and not $100.00, which would apply to someone without a cedula.
The law in Ecuador states that senior citizens when making a bank deposit and/or withdrawing money and paying your utility bills you go directly to the front of the line.
Seniors receive a refund of the IVA they pay. IVA is Ecuador's 12% value-added tax added to everything from groceries to appliances, clothing, restaurant meals, household items and other purchases. You would need to go to the SRI office with your cedula, fill in the necessary paperwork, turn in your facturas( invoices/receipts must have your name on them and cedula number) filed in chronological order and you get back 100% of the IVA to the monthly maximum. You are able to go 6 years back. You also need to supply your address and your banking information.
But there is a slight difference among the different euphemisms used to describe old age in Ecuador: Jubilado (retired), Tercera Edad (Senior citizen) and Anciano (elderly). Per the current law called “Ley de Proteccion del Anciano” (Old Age Protection Law), those 65 years and over are protected by it. This includes Ecuador citizens and foreign residents of Ecuador as well.
A copy of the Ley Del Anciano can be found at the following website:
www.scribd.com/doc/53975534/Ley-Del-Anciano
contributed on http://yahoo.com/groups ecuador-expats group