The Federal Government is boosting seniors benefits with a $2.5 billion-dollar aid package.
Prime Minister Justin Trudeau says this means Old Age Security (OAS)-eligible seniors will get a one-time, tax free $300 payment, while an extra $200 will be given to Guaranteed Income Supplement (GIS)-eligible seniors.
The money should flow within a couple of weeks.
“So if you are receiving both OAS and GIS you will get an additional $500 in total to help you,” said Trudeau.
About 9.1 million Canadian seniors are set to benefit from the two announcements.
As well, an extra $20 million will also be provided for New Horizons community seniors projects.
Trudeau says the government will extend payments even if a senior’s 2019 income information hasn’t been assessed.
Their relevant information can be submitted until October 1st.
We’re making sure everyone has the support they need to get through these tough times and no one gets left behind – and today, I’m announcing new support for seniors. Watch live for more info: https://t.co/1DqpXnl1MW
— Justin Trudeau (@JustinTrudeau) May 12, 2020
To watch Justin Trudeau’s full May 12th address, see below.
https://www.cpac.ca/en/direct/cpac2/455566/pm-justin-trudeau-provides-update-on-federal-response-to-covid-19-31/