Sign In

Retirement
Government benefits for
low-income seniors: OAS
Allowance and GIS

By ATB Wealth 2 February 2024

3 min read

There are programs that provide financial

assistance for low-income seniors above and
beyond Canada Pension Plan (CPP) and Old
Age Security (OAS). Here’s a brief overview of
the OAS Allowance and the Guaranteed
Income Supplement (GIS) program.

The OAS Allowance

The OAS Allowance is available if you're
between 60 and 64 and are the spouse or
partner of a GIS recipient. You must meet all of
the following conditions:

Your spouse or common-law partner

receives OAS and is eligible for GIS.
You're a Canadian citizen or legal
resident, currently live in Canada and
have lived in Canada for at least 10 years
since the age of 18.
Your annual combined household income
is less than the maximum annual
threshold amount: $39,984 (combined
income) for 2024.

The maximum allowance is $1,354.69/month

(2024).

To learn more, visit this Government of Canada

web page.

The OAS Allowance for the

Survivor
The OAS Allowance for the Survivor is
available if you're between 60 and 64, have a
low income, and your spouse or partner has
passed away. You must meet all of the
following conditions:

Canadian citizen or legal resident.

Currently live in Canada and have resided
in Canada for at least 10 years since the
age of 18.
Haven't remarried or entered into a
common-law relationship.
Have annual income less than the
maximum threshold amount, $29,112 (for
2024).

The maximum allowance for survivors is

$1,614.89/month for 2024.

The allowance stops the month after the

surviving spouse's 65th birthday.

What is the Guaranteed Income

Supplement (GIS)?
The Guaranteed Income Supplement (GIS) is a
non-taxable pension provided to OAS
recipients with low income who are living in
Canada. To qualify for these benefits, you
must file an annual tax return.

What is the eligibility criteria for

the Guaranteed Income
Supplement (GIS)?
To qualify for GIS, you must currently be
receiving OAS and your annual income (or
combined annual income in the case of
couples) must be lower than the maximum
annual thresholds below (2024 amounts):

Single/divorced/widowed $21,264.
Couple, spouse receives full OAS:
$28,560, combined income.
Couple, spouse does not receive OAS or
allowance: $51,840, combined income.
Couple, spouse receives the allowance:
$39,984, combined income.

If your income or combined income exceeds

these thresholds, you won't qualify for GIS. If
you decided to defer your OAS payment, you
won't be eligible for GIS and your spouse or
partner will not be eligible for the allowance.

What are the Guaranteed

Income Supplement (GIS)
benefits?
Your GIS amount will depend upon your marital
status and your previous year’s income, or
combined annual income in the case of
couples. The maximum monthly GIS amounts
for individuals receiving the maximum OAS are
(2024 amounts):

Single/divorced/widowed $1,065.47.
Couple, spouse receives full OAS:
$641.35.
Couple, spouse does not receive OAS or
allowance: $1,354.69.
Couple, spouse receives the allowance:
$641.35.

For information regarding the GIS amount for

your specific income level, see the GIS tables
provided by Employment and Social
Development Canada.

How to apply for the Guaranteed

Income Supplement (GIS)
If you were automatically enrolled in OAS, you
will be automatically enrolled in GIS.

If you did not receive an automatic enrolment

letter, you will need to apply online by
accessing your My Service Canada account, or
by mailing the paper application to Service
Canada.

If you're already receiving OAS but not GIS you

will need to apply in writing.

Other financial assistance for

low-income seniors
Low-income seniors in Alberta may be eligible
for a variety of provincial programs as well,
including the Alberta Seniors Benefit.

Understanding OAS and GIS benefits will equip

you to plan for your future, your way. Looking
for specific advice on how these benefits can
impact your retirement? Want to create a
personalized retirement plan? Connect with an
ATB Wealth advisor.

Wondering what
retirement could look like?

We’ve broken out each stage of the

retirement journey and laid out steps
you can take to prepare yourself for
the retirement you’ve been dreaming
of.

You might be interested in

CPP basics Co

What you need to know about Adv

the Canada Pension Plan Can
(CPP). Age

Read article Rea

View Terms & Conditions

ATB Wealth experts are

ready to listen.

Whether you're a beginner or an

experienced investor, we can help.

1-855-541-4387

Email: atbwealth@atb.com

Get in touch Discover

Contact us ATB Entrepreneur
Centre
Client feedback
ATB Prosper
Find a location
ATB Ventures
Book an appointment

Resources Company
Current rates About

Digital banking help Accessibility

Marketing preferences Careers

Tools Community

Fraud prevention Economic insights

News

Legal Privacy & security Code of Conduct

Copyright © 2024 ATB. All rights reserved.