Federal payment for seniors came with a cut-off date
By GILLIAN SLADE on July 14, 2020.
gslade@medicinehatnews.com@MHNGillianSlade That special federal payment for seniors to help with COVID expenses had a cut-off date. A week ago many seniors began receiving a special federal government payment to assist with additional expenses as a result of the COVID-19 pandemic. If you are 65 but have not received yours, when exactly you turned 65 could make a difference. In May, 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 and/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. Trudeau announced that seniors eligible for the Old Age Security pension would receive a one-time payment of $300. Those eligible for the Guaranteed Income Supplement would receive an additional $200, for a total of $500. The special one-time, tax-free payment was processed the week of July 6. Seniors did not need to apply for this one-time special payment, however they needed to have turned 65 by May 31 this year in order to qualify, a spokesperson for the federal government told the News today. Those who turned 65 in June or after, do not qualify. Those who did qualify had the money automatically issued by direct deposit. Those not signed up for direct deposit will have a cheque mailed to them. About 6.7 million seniors are eligible for the OAS pension and roughly 2.2 million are eligible for the GIS. 12-11
