Canadian seniors across the country 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. We need to support seniors and to be there for them, as they have been for us.
The Prime Minister, Justin Trudeau, today 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. 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, to help these vulnerable Canadians with extra costs during the pandemic.
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. This $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.
Since the start of the pandemic, the Government of Canada has introduced a number of measures to support seniors, including those most vulnerable. This includes a one-time special payment through the Goods and Services Tax (GST) credit in April, which provided an average of $375 to single seniors and $510 to senior couples, helping over 4 million low- and modest-income seniors. We are also investing an additional $20 million in community organizations that offer services to seniors, and have reduced minimum withdrawal requirements for all types of registered retirement income funds (RRIFs) by 25 per cent for the year 2020. In addition, we have taken steps to make sure seniors would continue to receive their GIS benefits if they were unable to submit their 2019 income information on time.
As we gradually restart our economy, the Government of Canada will continue to support all Canadians, including seniors and those most vulnerable, and respond to the health, social, and economic impacts of COVID-19.
