Seniors will be receiving more support during the current pandemic in the form of up to $500 to help offset any increases in the cost of living due to COVID-19. Prime Minister Justin Trudeau also said they are looking into helping find long-term solutions to the current tragedies unfolding in long-term care facilities.

Seniors Minister Deb Schulte added that 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, for up to a total of $500. This support will amount up to $2.5 billion and is expected to help over 6 million seniors. This money will help offset things like extra dispensing fees for prescriptions, added costs for grocery delivery services, and taxi fees for seniors that might normally take the bus.

Seniors who already are receiving OAS and GIS will receive the one-time benefit automatically and will not be required to apply for it. Seniors also saw support in the form of a one-time special payment through the GST credit and the reduction of minimum withdrawals from registered retirement income funds by 25 per cent in 2020. Prime Minister Trudeau said that COVID-19 is taking a heavy toll on seniors both emotionally and financially, and hopefully, this announcement will alleviate some of the stress they're experiencing. He added that more work will be done on both short-term fixes and longer-term solutions.

"We've seen heartbreaking tragedies in long-term care facilities and nursing homes right across the country. Overworked staff. Understaffed residences. Grieving families. There are serious, underlying challenges facing these facilities. And in the coming months, the federal government will be there to help the provinces find lasting solutions," Trudeau said.