One-time payment for older seniors

From: Employment and Social Development Canada

This one-time payment provides financial support through a taxable payment of $500 to older seniors in August 2021.

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Eligibility

You will receive the one-time payment for older seniors if you:

If you have applied for the Old Age Security pension but have not yet been approved, you will receive the one-time payment for older seniors if you are approved retroactively to June 2021 or earlier.

Payment amount

If you meet the eligibility requirements, you will receive one taxable grant payment of $500.

How to apply

You do not have to apply. If you are eligible, you will automatically receive the one-time payment for older seniors.

If you have not yet applied for the Old Age Security pension

If you were born on or before June 30, 1947 and are eligible for the Old Age Security pension, it is important that you submit your application for the Old Age Security pension no later than May 31, 2022.

If you apply for the Old Age Security pension after May 31, 2022, you will not be eligible for the one-time payment.

Date of payment

This payment will be issued automatically the week of August 16, 2021.

If you live in Canada or receive your pension payment by direct deposit, you should receive the payment that week.

Outside Canada

If you receive your payment by cheque, international postal disruptions may delay the receipt of cheques.

Retroactive payments

If your application for the Old Age Security pension is approved retroactively to June 2021 (or earlier), you will receive the one-time payment for older seniors once your Old Age Security pension payments begin.

You can only receive a maximum of 1 year of retroactive Old Age Security pension payments.

If you apply for the Old Age Security pension after May 31, 2022, you will not be eligible to this one-time payment.

Method of payment

If you receive your Old Age Security pension payment by direct deposit, you will also receive the one-time payment for older seniors by direct deposit.

If you receive your Old Age Security pension payment by cheque, you will also receive the one-time payment for older seniors by cheque.

Impact on income-tested benefits

This payment will not affect your Guaranteed Income Supplement benefit or the Allowance benefit for your spouse.

Taxable payment

The one-time payment for older seniors is a taxable benefit. Service Canada will send you the required tax slip. You will need to declare this payment when you file your Income Tax and Benefit Return.

No withholds

No taxes or deductions will be taken from your $500 payment.

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