$1717 GIS Boost Coming in December 2024 – Eligibility, Payment Dates & Full Details

$1717 GIS Boost in December 2024: The Guaranteed Income Supplement (GIS) will get a significant boost in December 2024, hiking the maximum monthly benefit to $1,717 for eligible seniors. The boost is part of the Canadian government’s move to give financial aid to low-income seniors and enable them to lead a quality life. This is one of the largest recent adjustments to a core social safety net program, intended to help with the escalating issue of inflation and cost of living. Following is everything you need to know about this change, including eligibility, payment period, and application.

$1717 GIS Increase in December 2024

The GIS increase to $1717 in December 2024 is a peak in increasing economic well-being among Canada’s seniors. In being more compassionate, the government attempts to alleviate the cost burden and allow seniors to live out 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 a low-income-exempt allowance to which pensioners with limited incomes who qualify for OAS are also entitled. It’s meant to make pensioners pay for the absolute necessities and afford a decent living in retirement without being subjected to excessive hardship. The program structure makes it cost-effective and inreplaceable for those with minimal wealth or means.

The GIS increase to $1,717 is a significant increase in financial aid, showing that the government is interested in funding the rising cost of living for seniors. The boost is particularly near and dear to the hearts of elderly individuals who survive largely on these sums to buy staples like food, accommodation, and health care.

Eligibility for the GIS Boost

In order to qualify for the GIS boost, seniors must have the following qualifications:

1. Age Requirement

• Age 65 years or older.

2. Residency

• Canada legal resident.

3. OAS Pension Recipient

• Currently on the Old Age Security pension. If you have not yet applied for OAS, apply to see if you qualify for GIS.

4. Income Thresholds

Income below which varies based on marital status:

• Single, divorced, or widowed: Under a yearly income of $22,056.
• Married/Common-law (spouse OAS eligible): Together under $29,136.
• Married/Common-law (spouse GIS eligible): Together under $40,800.
• Married/Common-law (spouse not OAS eligible): Together under $52,848.

These amounts are periodically adjusted, so note changes that can affect your eligibility.

When Will the Extra GIS Payments Start?

Eligible beneficiaries will start to receive the supplementary GIS payments on December 20, 2024. The date satisfies the government pledge of having money realigned before the holidays. The payments will be directly deposited into bank accounts or sent by mail based on your payment option with your Service Canada bank account.

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

How to Apply for Guaranteed Income Supplement (GIS)

Automatic Enrollment

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

Manual Application

If you are not registered automatically, then:

• Fill out the GIS Application Form (ISP-3025):
  Available on the Service Canada website or in offices near you.
• Mail In the Form:
  Mail it to the mailing address on the form or drop it off at a Service Canada office in person.
• File Your Taxes:
  Submit your tax returns by April 30 to report your income correctly.
• Check Your Application Status:
  Update your application and payment record on the My Service Canada Account website.

Hand application may intimidate you, but Service Canada officials are there to guide you along the way if you require help.

Why This Rise Is Important

The GIS raise to $1,717 is also meant to mitigate the rising economic issues that are being faced by seniors, particularly in housing, food, and health care. Low-income seniors can barely keep up with the rising inflation and unexpected expenses, so this raise is a welcome relief.
For one of the seniors, who receives $1,500 a month, this $217 increase is a substantial difference in paying for rising living costs, including higher utility bills and food prices. For the couples, the total increase would be an even greater difference in being able to maintain joint expenses.

To put salt in the wound, this rise will trickle-down to provincial and municipal schemes of benefits as these amounts typically are used in converting to GIS amounts to be qualified for benefits. Seniors should have a sit-down with regional benefit providers and explain to them how this new reality will better their money.