December 2024 $1717 GIS Increase – Who’s Eligible and When Will You Get Paid?

$1717 GIS Increase in December 2024

The GIS increase to $1717 in December 2024 is a pinnacle in boosting the economic prosperity of Canada’s seniors. In being more caring, the government aims to relieve economic pressures and allow seniors to live their golden years with dignity.

If you’re eligible, take advantage of this increase by ensuring your tax information is up-to-date and checking your enrollment status with Service Canada. This enhancement is not just a financial boost—it’s a commitment to valuing the contributions of Canada’s senior citizens.

What is the Guaranteed Income Supplement (GIS)?

The GIS is an income-exempt allowance that low-income pensioners receiving OAS are entitled to. It’s aimed at allowing pensioners to meet the bare essentials and maintain a decent standard of living in retirement without facing undue hardship. The structure of the program makes it cost-effective and indispensable for those with little wealth or other means.

The GIS boost to $1,717 represents a significant hike in financial aid, showing that the government is serious about financing the rising living expenses of the elderly. The increase comes particularly near and dear to the hearts of elderly individuals who rely largely on these figures to buy necessities like food, shelter, and medical care.

Eligibility for the GIS Boost

In order to qualify for the GIS boost, seniors must satisfy the following conditions:

1. Age Requirement

2. Residency

3. OAS Pension Recipient

• Actually receiving the Old Age Security pension. If not yet applied for OAS, you must apply to see whether you qualify for GIS.

4. Income Thresholds

Income at a level below which varies based on marital status:

• Single, widowed, or divorced: Less than an annual income of $22,056.
• Married/Common-law (spouse eligible for OAS): Combined under $29,136.
• Married/Common-law (spouse eligible for GIS): Combined under $40,800.
• Married/Common-law (spouse not eligible for OAS): Combined under $52,848.

These amounts are updated periodically, so stay informed of changes that can affect your eligibility.

When Will the Additional GIS Payments Commence?

Entitled seniors will start receiving the additional GIS payments as of December 20, 2024. The date fulfills the government promise to have money altered before the holidays. Payments will be made into bank accounts directly or sent by mail based on your payment option with your bank account with Service Canada.

For those who have not yet been paid up to this time, we suggest that you contact Service Canada immediately to inquire about eligibility and payment.

How to Apply for Guaranteed Income Supplement (GIS)

Automatic Enrollment

Most seniors are enrolled in GIS automatically when they start to receive OAS. Service Canada normally sends you notice letters of eligibility by mail. You should check your enrolment status, however, to avoid missing these benefits.

Manual Application

If you are not enrolled automatically, then:

• Fill out the GIS Application Form (ISP-3025):
  Located on the Service Canada website or in local offices.
• Submit the Form:
  Send it to the postal address listed on the form or drop it off in person at a Service Canada office.
• File Your Taxes:
  Mail your tax returns by April 30 to accurately report your income.
• Check Your Application Status:
  Track your application and payment record through the My Service Canada Account portal.

Manual application may intimidate you, but Service Canada staff are there to help you through the process if you require support.

Why This Rise Is Important

The GIS rise to $1,717 also aims to alleviate the growing economic issues that are being faced by seniors, particularly in housing, food, and health care. Seniors who have limited income can barely keep up with the rising inflation and unexpected expenses, so this rise is a relief.
For one of the seniors, who receives $1,500 monthly, this increase of $217 is an impressive distinction in paying for increasing living costs, including higher utilities and food costs. For the couples, the total increase would be an even broader distinction in being able to maintain shared expenses.

To make matters worse, this expansion will spill-over to provincial and municipal benefits programs because these amounts typically equate to GIS amounts to be eligible for benefits. Seniors must have a sit-down with local benefit providers and communicate how this new situation will benefit them in terms of finances.