New law supports Canadian seniors
Bill C-12 received Royal Assent on Thursday after being adopted in the Senate.
Low-income seniors who are experiencing financial hardship due to the COVID-19 pandemic will receive needed support thanks to legislation adopted in the Senate on Thursday.
Bill C-12 was crafted to exempt pandemic benefits from the calculation of allowance benefits and the Guaranteed Income Supplement, an income-tested benefit for seniors who receive the Old Age Security pension.
Senator Jane Cordy, sponsor of the bill in the Senate, explained that the legislation aims to ensure vulnerable seniors do not see reductions in their benefits.
“Bill C-12 corrects an unforeseen inequity within the pandemic financial support programs. It will ensure that seniors will not see a reduction in their Guaranteed Income Supplement or allowance benefits again if they received or are receiving pandemic benefits,” Cordy said.
The Government announced a one-time, non-taxable payment to seniors who suffered a financial loss last year.
“These seniors will receive their lump sum payment in May of 2022. Officials are working hard to issue some payments earlier than that to seniors who are in dire financial need,” Cordy said.
The provisions of Bill C-12 begin in summer 2022, when a person’s entitlement to income-tested benefits is reassessed.