Prime Minister Justin Trudeau announced that Canadian Seniors will begin receiving their special payments in early July. The additional money is intended to help seniors offset costs associated with COVID-19 was first announced in May.
“We know that the last few weeks have been difficult for seniors and their families across the country, especially those most vulnerable”. Prime Minister Justin Trudeau said. The funds will be distributed through the Old Age Security (OAS) pension, and the Guaranteed Income Supplement (GIS).
“As seniors stay safe by staying home during COVID-19, their costs have gone up,” Seniors’ Minister Deb Schulte said. Canadians eligible for the OAS pension will receive $300, while those eligible for the GIS will receive $200 for a total of $500. The funding will provide seniors who are single with up to $900 more, and couples $1500 on top of their existing benefits. Seniors are encouraged to submit their 2019 tax information by October in order to avoid interruption in their benefits.