The Canadian government is considering a potential increase of $2,100 plus an additional $500 per month in the Guaranteed Income Supplement (GIS) for 2025. This proposed increase aims to help low-income older Canadians manage their expenses, such as groceries and healthcare, more effectively. With inflation and rising living costs reducing seniors’ purchasing power, the additional $2,100 plus $500 per month could help alleviate financial stress and lower the risk of poverty.
The GIS is a non-taxable supplement to the Old Age Security (OAS) payments, providing much-needed financial relief to seniors aged 65 and older with low income. To qualify for the $2,100 plus $500 GIS increase in 2025, applicants must be 65 years or older, have legal residency in Canada or be Canadian citizens, be receiving the Old Age Pension, and meet the income thresholds set by the Canada Revenue Agency (CRA), which vary based on marital status. Eligible seniors can expect to receive the increased GIS payments starting April 28, 2025.
Potential GIS increase for 2025
This financial boost is intended to help them plan their expenses and reduce economic stress. The proposed $2,100 plus a $500 monthly GIS increase remains under consideration and has not been officially announced or confirmed by the CRA.
Low-income seniors and other interested parties are advised to stay updated with government announcements, so as not to miss this potential financial opportunity. The proposed increase in GIS payments is designed to support older Canadians by addressing their economic hardships and improving their quality of life. Although the increase is not yet confirmed, the anticipation of additional support reflects the need for enhanced financial security among seniors.
For more information and updates on the proposed increase, follow official government announcements.
Image Credits: Photo by Marten Bjork on Unsplash
