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The Federal Government Announced New Measures to
Assist Seniors During the COVID-19 Pandemic
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Hulton,
Wendy G. Miller,
Michael B.

May
2020

Industry Alerts

On May 12, 2020, the federal government announced additional measures to help
Canadian seniors and provide them with greater financial security during the
COVID-19 emergency.

These new measures include:

Providing $2.5 billion in additional financial support for a one-time
tax-free payment of $300 for seniors eligible for the Old Age Security (OAS)
pension, with an additional $200 for seniors eligible for the Guaranteed
Income Supplement (GIS). This measure would give a total of $500 to
individuals who are eligible to receive both the OAS and the GIS, to help
cover increased costs caused by COVID-19.

Expanding the New
Horizons for Seniors Program with an additional investment of $20 million
to support organizations that offer community-based projects that reduce
isolation, improve the quality of life for seniors, and help them maintain a
social support network.

Temporarily extending GIS and Allowance payments if seniors’ 2019 income
information has not been assessed. This will ensure that the most vulnerable
seniors continue to receive their benefits when they need them the most. To
avoid an interruption in benefits, seniors are encouraged to submit their 2019
income information as soon as possible and no later than October 1,
2020.

The additional funding is on top of other supports for seniors, including an
increase in the GST credits for low-income seniors, and $350 million for
charities that serve our most vulnerable, such as the United Way.

Learn more about resources available for senior
citizens in Canada by reading our COVID-19
Guide for Seniors.

Please Note: These materials do not constitute
legal or medical advice. Government initiatives, announcements, and regulations
in response to the COVID-19 situation continue to evolve and change
frequently.

Related Services

COVID-19
Developments

Contacts

Wendy
Hulton

Partner
Toronto

T:416-777-4035

E:[email-masked]

Michael
Miller

Partner
Toronto

T:416-777-4007

E:[email-masked]

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