What do I need to know about Canada's Guaranteed Income Supplement (GIS)?

As you approach retirement, you may start to wonder what, exactly, you need to do to ensure a comfortable lifestyle. One of the key questions on many people's minds is whether or not they will be eligible for Canada's Guaranteed Income Supplement (GIS).

The GIS is a monthly benefit that is available to low-income seniors. To be eligible, you must be 65 years of age or older and receiving Old Age Security (OAS) pension. If you are eligible, the GIS will top up your OAS pension to a maximum of $968.86 per month.

To apply for the GIS, you will need to complete a short application form, which is available online or from your local Service Canada office. You will also need to provide proof of your age, citizenship, and residency in Canada.

If you are approved for the GIS, you will need to re-apply every year. Service Canada will send you a renewal form in the mail, which you will need to complete and return.

It is important to note that the GIS is not automatic. You must apply for it each year. If you do not apply, you will not receive the supplement.

The GIS is just one of many benefits that are available to seniors in Canada. For more information on retirement benefits, please visit the Service Canada website or speak to a representative at your local Service Canada office.

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