Updated on January 31, 2024
Exploring GIS Canada 2024: Learn about the Guaranteed Income Supplement and its eligibility criteria. Senior citizens, facing challenges managing expenses on a low pension, benefit from government support through GIS, enhancing overall savings and maintaining a higher quality of living.
Guaranteed Income Supplement 2024
The 1960s marked a crucial period for our fellow citizens, as many older individuals struggled with poverty. Authorities sought to address this by making specific enhancements to the public pension system, targeting women, low-income workers, the disabled, and others. In 1967, the Guaranteed Income Supplement was introduced with the goal of alleviating poverty in the country.
The scheme aims to offer financial support to elderly citizens eligible for a pension. It specifically benefits pensioners with lower amounts, aiming to improve their financial well-being.
What is GIS Canada?
Following the implementation of GIS, the country experienced significant economic growth in the subsequent years. Subsequently, the introduction of legal and common-law spouse provisions acknowledged the diverse relationship statuses of a majority of citizens.