Coronavirus: Feds rolling out one-time top up for seniors eligible for OAS, GIS

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Seniors feeling the financial impacts of the coronavirus pandemic will be able to get a one-time top up to their Old Age Security and Guaranteed Income Supplement payments.

Seniors Minister Deb Schulte and Treasury Board Secretary Jean-Yves Duclos held a press conference on Tuesday morning to roll out details of a $2.5 billion plan to will give seniors eligible for the OAS pension a one-time, tax-free payment of $300, with an additional $200 going to those also eligible for the GIS.

READ MORE: Majority of Canadians find it stressful to be out in public amid COVID-19: poll

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The government will also spend an extra $20 million on expanding the New Horizons for Seniors Program that supports community-based projects for seniors, and will temporarily extend GIS payments.

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The coronavirus pandemic has led to an unprecedented global economic shutdown over the last three months as countries scramble to try to stop the spread of the deadly virus.

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READ MORE: How long will pandemic-related job losses last in Canada?


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