Some Canadian seniors could see a noost in their bank accounts this week, from a one-time federal payment.
Seniors across Canada continue to face health, economic, and social challenges due to COVID-19. Many seniors are facing higher costs for food and services due to physical distancing restrictions, while others are paying more in dispensing fees to get the same medication or paying a premium for deliveries.
Today, the Honourable Deb Schulte, Minister of Seniors, highlighted that seniors eligible for the Old Age Security (OAS) pension, the Guaranteed Income Supplement (GIS), or Allowances will receive their one-time, tax-free payment this week without needing to apply.
Seniors who reside in Canada can expect to receive the payment by direct deposit or cheque this week, whereas seniors who reside outside Canada can expect this one-time payment in July for those on direct deposit, or by cheque with delays given international postal disruptions.
Through several measures, the Government is providing about $900 for low-income single seniors and more than $1,500 for low-income senior couples, in addition to their existing benefits, to help with extra costs during the pandemic.
Seniors eligible for the OAS pension will receive a payment of $300, and those seniors also eligible for the GIS will receive an additional $200, for a total of $500.
Allowance recipients will also receive $500. This $2.5 billion investment in financial support will help Canadian seniors cover increased costs caused by COVID-19.
As we carefully and gradually re-open the economy, the Government of Canada will continue to support all seniors and respond to COVID-19 health, social, and economic impacts.