As per PM Trudeau’s announcement on May 12, 2020, seniors will be receiving a one-time payment of up to $500 to help offset any increases in the cost of living due to COVID-19.

Seniors who qualify for Old Age Security (OAS) will be eligible for a one-time, tax-free payment of $300, and those eligible for the Guaranteed Income Supplement (GIS) will get an extra $200.

Those eligible for both will receive $500.

Seniors who are already receiving the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) do not have to apply for the new one-time payment as it will be applied automatically.