Canadian seniors to receive special payment in early July

by Morinville News Staff

Prime Minister Justin Trudeau announced Thursday that the previously announced special payment to seniors will arrive in early July. 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.

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 payment is one of a number of measures the federal government says it has put in place for seniors, including 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. the feds say that helped more than 4 million low- and modest-income seniors.

Other measures include a $20 million fund for community organizations that offer services to seniors, and reducing the minimum withdrawal requirements for all types of registered retirement income funds (RRIFs) by 25 per cent for the year 2020.

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