More cash for seniors – Trudeau

SPN Staff

Canadian seniors will be getting a little extra cash from the federal government to help deal with COVID-19 expenses.

Prime Minister Justin Trudeau, announced June 4 that seniors eligible for the Old Age Security [OAS] pension and the Guaranteed Income Supplement [GIS] will receive their one-time, tax-free payment during the week of July 6.

In total, through this measure and others, the government is providing nearly $900 more for single seniors and more than $1,500 for senior couples, on top of their existing benefits.

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.

The government estimates a cost of $2.5 billion in financial support which will help Canadian seniors cover increased costs caused by COVID-19, and give them greater financial security in this time of crisis.

A news release states Canadian seniors are facing significant health, economic, and social challenges due to COVID-19. Physical distancing is weighing heavily on those who are separated from their families, and rely on help to get groceries and other essential items.

“Canada’s seniors have done so much for our country, and we need to be there for them during this challenging time,” says Prime Minister Justin Trudeau.

“As seniors stay safe by staying at home during COVID-19, their costs have gone up,” he adds. “We know that the last few weeks have been difficult for seniors and their families across the country, especially those most vulnerable.”

Seniors do not need to apply for the payment. The payment will be issued automatically during the week of July 6. Seniors who reside in Canada can expect to receive the payment by direct deposit or cheque.

There are currently 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS.

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