As of today July 6th Trudeau confirmed that all eligible seniors in Canada will finally be receiving their one-time COVID-19 payments this week. Any senior who is eligible for the Old Age Securitypension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS).
Speaking outside Rideau Cottage in Ottawa, Prime Minister Justin Trudeau has announced when seniors can expect the one-time payment of up to $500 to help offset any increases in the cost of living due to COVID-19.
According to Trudeau, seniors who have been anxiously awaiting the payment should receive the funds on the week of July 6.
“Even as we start to reopen parts of the economy, many seniors will have to stay home for longer to protect their health. And that’s really weighing on them. So, our government stepped up to help them weather this storm," he said.
Those who qualify for Old Age Security (OAS) will be eligible for a one-time, tax-free payment of $300, and those eligible for the Guaranteed Income Supplement (GIS) will get an extra $200.
These one-time payments will amount to $2.5 billion and are expected to help 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS.