Prime Minister Justin Trudeau announced that seniors eligible for the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS)will receive their special one-time, tax-free payment during the week of July 6.
The government says $2.5 billion in financial support will help Canadian seniors cover increased costs caused by COVID-19, and give them greater financial security in this time of crisis.
There are currently 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS.
- Seniors eligible for the OAS pension will receive a payment of $300, and those also eligible for the GIS will receive an additional $200, for a total of $500.
- Allowance recipients will also receive $500.
DO YOU NEED TO APPLY:
- Seniors do not need to apply for this one-time special payment.
WHEN CAN YOU EXPECT THE PAYMENT:
- The payment will be issued automatically during the week of July 6, and seniors who reside in Canada can expect to receive the payment by direct deposit or cheque that week.
- For seniors who reside outside Canada, the one-time payment will also be received in July for those on direct deposit, but delays can be expected for cheques, given international postal disruptions.