Canada $500/M + $2,100 GIS Increase in 2024 – Eligibility & Payment Dates

Canada $500/M + $2,100 GIS Increase in 2024 – Retirement can be a wonderful time to relax and enjoy life, but for many Canadian seniors, it also comes with financial worries. Rising costs for things like groceries, rent, and healthcare can make it tough to get by, especially if you’re on a fixed income. That’s where the Guaranteed Income Supplement (GIS) steps in—a government program designed to help low-income seniors who are already getting the Old Age Security (OAS) pension.

In 2024, there’s exciting news: the GIS is getting a boost, with an extra $500 per month and a one-time $2,100 payment for eligible seniors. This article will explain everything you need to know about this increase, who can get it, and when the money will arrive—all in simple, clear language to make it easy to understand.

What is the GIS, and Why Does This Increase Matter?

The Guaranteed Income Supplement, or GIS, is a monthly payment from the Canadian government that helps seniors who don’t have much money. It’s added to the OAS pension, which is a basic payment for people 65 and older who’ve lived in Canada for at least 10 years after turning 18. The GIS is special because it’s not taxed—you get to keep every penny—and it’s meant for seniors whose income is below a certain limit.

Also Read: Boost Your CPP Pension by $2,700 in 2025 – Claim Your Increase

In 2024, the government is making the GIS even better by adding $500 more each month and giving a one-time bonus of $2,100. Why? Because life is getting more expensive. Inflation—the way prices keep creeping up—has hit seniors hard, especially those who rely on pensions. This extra money is a way to help them pay for essentials like food, housing, and medicine without stressing about every dollar. For many, it could mean the difference between scraping by and living with a little more comfort and dignity.

How Does the $500 Monthly + $2,100 GIS Increase Work?

Let’s break this down so it’s crystal clear:

• $500 Per Month Increase: This is an ongoing boost to your regular GIS payment. If you’re already getting GIS, you could see your monthly check go up by $500 starting in 2024. For example, if you were getting $1,000 a month before, you might now get $1,500. This extra cash comes every month to help with your regular bills.
• $2,100 One-Time Payment: This is a special, one-time bonus. It’s not something you’ll get every month—it’s a single payment of $2,100 that eligible seniors will receive in 2024. Think of it like a little gift from the government to help with bigger expenses, like fixing something at home or catching up on bills.

The goal is simple: the monthly increase keeps your budget steady, while the one-time payment gives you a cushion for unexpected costs. Together, they could add up to $8,100 more in 2024 ($500 x 12 months = $6,000 + $2,100 = $8,100). That’s a big help for anyone on a tight income!

Who Can Get This GIS Increase?

Not every senior gets the GIS increase—it’s only for those who meet certain rules. Here’s what you need to qualify:

1. Age: You have to be 65 or older. The GIS is tied to the OAS pension, which starts at 65.
2. Living in Canada: You must be a Canadian citizen or legal resident living in Canada. If you’ve moved away or just arrived, you might not qualify right away—check with Service Canada if you’re unsure.
3. Getting OAS: You need to already be receiving the Old Age Security pension. The GIS is an add-on to OAS, so you can’t get it without that base pension.
4. Low Income: Your yearly income has to be below a certain amount. This limit changes depending on whether you’re single or have a spouse or partner, and whether they get OAS too. Here are the income cutoffs for 2024:
   • Single, widowed, or divorced seniors: Your income must be less than $22,056 per year.
   • Married or common-law, both getting OAS: Your combined income must be under $29,136.
   • Married or common-law, only one getting OAS: Your combined income must be under $52,848.

If your income is above these limits, you won’t get the full GIS, and you might not get the $500 monthly increase or $2,100 bonus either. The lower your income, the more GIS you can receive—up to a maximum amount, which we’ll cover later.

How Do You Get the Increase? Do You Need to Apply?

Here’s the good news: if you’re already getting GIS, you probably don’t have to do anything extra. The government usually figures out who qualifies based on your tax return from the previous year. They’ll automatically add the $500 monthly increase to your GIS payment and send the $2,100 one-time payment if you’re eligible. Most seniors get both payments along with their OAS, either by direct deposit into their bank account or by a mailed check.

But if you’re not getting GIS yet—or if you think you should be—here’s what to do:

1. Check Your Status: Look at your income and see if it’s below the limits listed above. You can also log into your My Service Canada Account online to see your OAS and GIS details.
2. Apply for GIS: If you’re not enrolled, you’ll need to apply. You can get the form (called ISP-3025) from the Service Canada website or a local office. Fill it out with info like your Social Insurance Number, income details, and proof you live in Canada. Then send it in online, by mail, or in person.
3. File Your Taxes: Even if you don’t owe taxes, you need to file a return every year. That’s how the government knows your income and decides if you qualify for GIS and the increase.

Once you’re approved, the payments will start flowing—often with the next OAS payment cycle.

When Will You Get the Money? Payment Dates for 2024

The GIS payments—including the $500 monthly increase—come on the same schedule as OAS payments. They’re usually sent out on the third-to-last business day of each month. The $2,100 one-time payment is a bit different—it’s a special bonus that’s expected to arrive in November 2024 for eligible seniors, though the exact date might depend on when the government finalizes everything.

Here’s the payment schedule for the rest of 2024, assuming no holidays mess things up:

• January 29, 2024
• February 27, 2024
• March 26, 2024
• April 26, 2024
• May 29, 2024
• June 26, 2024
• July 29, 2024
• August 28, 2024
• September 26, 2024
• October 29, 2024
• November 27, 2024 (This is when the $2,100 one-time payment is likely to land!)
• December 20, 2024 (Note: December’s date is earlier because of the holidays.)

If you’ve got direct deposit set up, the money hits your bank account on these dates. If you get a check, it might take a few extra days to arrive in the mail. Want to be sure? Check your My Service Canada Account or call Service Canada at 1-800-277-9914.

How Much GIS Can You Get With the Increase?

The regular GIS amount depends on your income and whether you’re single or with a partner. In 2024, the maximum monthly GIS (before the $500 increase) is around $1,086.88 for a single senior. With the $500 boost, that could rise to $1,586.88 per month—pretty significant! Here’s a quick look:

• Single, widowed, or divorced: Up to $1,586.88 per month ($1,086.88 regular + $500 increase).
• Married, both getting OAS: Up to $654.23 each per month, plus the $500 increase could push it to $1,154.23 each.
• Married, only one getting OAS: Up to $1,586.88 for the OAS recipient ($1,086.88 + $500).

The $2,100 one-time payment is extra and doesn’t change your monthly amount—it’s just a bonus on top. Keep in mind that these are maximums. If your income is close to the cutoff, your GIS (and the increase) might be less, and it shrinks as your income goes up.

Tips to Make the Most of This Increase

This extra money is a lifeline, but you can stretch it even further with a few smart moves:

1. Set Up Direct Deposit: It’s faster and safer than waiting for a check. Sign up through your My Service Canada Account.
2. Keep Taxes Up to Date: File every year, even if your income is low. It’s the key to staying eligible.
3. Plan for the Bonus: Use the $2,100 for something big—like a home repair or paying off a debt—instead of letting it slip away on small stuff.
4. Look for Other Help: Check out provincial programs like Ontario’s GAINS (up to $83/month) or BC’s Senior’s Supplement for more support.

Also Read: Canada Carbon Rebate Program for Small Businesses

Chart: Canada $500/M + $2,100 GIS Increase in 2024 – Key Details

Final Thoughts

The $500 monthly and $2,100 GIS increase in 2024 is a big win for Canadian seniors who need a hand. It’s the government’s way of saying, “We see you, and we’re here to help.” Whether it’s covering your rent, buying healthier food, or just having a little extra for yourself, this boost can make retirement feel less like a struggle and more like a reward. If you think you qualify, don’t wait—check your eligibility, file your taxes, and get ready for those payments to roll in. With a little planning, 2024 could be your most comfortable year yet!