In Canada, low-income seniors can be defined as those who receive (or who are eligible to receive) the Guaranteed Income Supplement (GIS). The GIS is a monthly, non-taxable (but tax reportable) supplement to the monthly Old Age Security (OAS) pension.
The GIS is paid to seniors who have little or no income other than the OAS pension. About 7.1 million seniors receive the OAS pension and about 2.2 million seniors receive the GIS.
The amount of GIS benefits depends on marital status and income. GIS benefit amounts are based on an individual’s net annual income in the previous year, or in the case of couples, the combined net annual income of both members of the couple. To be eligible for the GIS, individual or combined income must be below a specified threshold.
