Tiasha Tabassum: After staying two months in isolation and spending retirement savings, also taking additional health safety measures due to Coronavirus; finally the eligible seniors are getting a one-time payment as support. The amount of this financial aid is up to $500 and tax-free
The federal government has revealed this plan to donate $2.5 billion to elderly people. Soon they will start sending cheques to the eligible seniors.
Prime Minister Justin Trudeau said, “There’s no question that COVID-19 has been taking its toll on seniors both emotionally and financially… our government is taking action to alleviate some of the stress they may be feeling.” He added that there’s still work ahead to find long-term solutions to take care of Canada’s elderly people.
The estimated number of eligible seniors is currently 6.7 million according to the federal government. They are all eligible for OAS pension. On the other hand, there are around 2.2 million who are eligible for the GIS.
The government is also increasing the funds of community support programs. $20 million will be added to the programs that are helpful for the seniors in isolation. The programs include video conference process, online exercise and providing health-care tips.
The seniors whose income information of 2019 is not assessed yet will be receiving the benefits as the government is extending the GIS payments temporarily. However, they are requested to submit their 2019 income information within 1st October. Otherwise, they might face disruption to receive the aid.
Any senior who is eligible for the Old Age Security (OAS) pension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS). No application is required to receive this one-time payment.