On May 12, 2020, the federal government unveiled support for seniors, including spending $2.5 billion on a one-time tax-free payment of up to $500 for eligible seniors. Any senior who is eligible for the Old Age Security (OAS) pension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS).
In addition to these one-time cheques, funding is being increased to community support programs by $20 million to bolster projects including those aimed at reducing isolation and temporarily extending the GIS payments to seniors if their 2019 income information has not yet been assessed, allowing qualified seniors to continue to receive their benefits.
- $300 for seniors eligible for the Old Age Security (OAS) pension
- $200 for seniors eligible for the Guaranteed Income Supplement (GIS)
Anyone who receives both the OAS pension and the GIS will be eligible for both payments for a total one-time payment of $500.
Seniors who are not automatically enrolled for Old Age Security may have to apply.
No Need to Apply:
Seniors who are already receiving the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) do not have to apply for the new one-time payment as it will be applied automatically.
More details on when the payments will be made available are to come.