Seniors to receive automatic money from federal government
By GILLIAN SLADE on June 30, 2020.
gslade@medicinehatnews.com@MHNGillianSlade Within days Canadian seniors will receive a special federal government payment to assist with additional expenses as a result of the COVID-19 pandemic. About a month ago Prime Minister Justin Trudeau acknowledged the additional financial burden on seniors, particularly during the quarantine period. The financial burden may be the result of paying for home delivery of groceries or other supplies during the lockdown, the additional cost of take-out meals and even the reduction in value of retirement portfolios as a result of volatile markets, which in turn affects income. At the time of the announcement Trudeau pointed out how much seniors have given to the country and said the additional money would help to ensure their economic and social well-being. Seniors eligible for the Old Age Security pension will receive a one-time payment of $300. Those eligible for the Guaranteed Income Supplement will receive an additional $200, for a total of $500. The special one-time, tax-free payment will be processed next week starting July 6, said Daniel Pollak, press secretary to the minister of seniors. Seniors do not need to apply for this one-time special payment. It will automatically be issued as a direct deposit for those on OAS and GIS. If you are not signed up for direct deposit a cheque will be mailed via Canada Post. About 6.7 million seniors are eligible for the OAS pension and roughly 2.2 million are eligible for the GIS. 9-8
