Adult Financial Literacy Guide | Page 10

Federal Programs The Guaranteed Income Supplement (GIS) The Guaranteed Income Supplement (GIS) provides a monthly non-taxable benefit to low income Old Age Security (OAS) recipients. You qualify for the Guaranteed Income Supplement (GIC) if you meet the following:    You are a legal resident of FreeImages.com Content License-Andrew C. Canada You are receiving an Old Age Security pension Your annual income (or in the case of a couple, your combined income) is lower than the maximum annual income (Table on page 13) You must apply in writing for the GIS. Complete and mail the Guaranteed Income Supplement or Statement of Income for the Allowance or Allowance for the Survivor application form (ISP-3025) for the payment year that applies to you. You will find this form at: http://www.servicecanada.gc.ca/cgi-bin/search/eforms/index.cgi? app=prfl&frm=isp3025&ln=eng Information on the maximum monthly payment amount you could receive for the Old Age Security pension and benefits, and the maximum annual income allowed to be eligible can be found at: http://www.esdc.gc.ca/en/cpp/oas/payments.page Old Age Security Allowance The Allowance is a benefit available to spouses or common-law partners of Guaranteed Income Supplement recipients ages 60 to 64.The Allowance stops the month after your 65th birthday, when you may become eligible for the OAS pension and possibly the GIS. 10