Real Change: A New Plan For a Strong Middle Class (page 7)

" Budget 2016 proposes to increase the Guaranteed Income Supplement top-up benefit by up to $947 annually for the most vulnerable single seniors starting in July 2016, which will support those seniors who rely almost exclusively on Old Age Security and Guaranteed Income Supplement benefits and may therefore be at risk of experiencing financial difficulties. This enhancement more than doubles the current maximum Guaranteed Income Supplement top-up benefit and represents a 10-per-cent increase in the total maximum Guaranteed Income Supplement benefits available to the lowest-income single seniors. This measure represents an investment of over $670 million per year and will improve the financial security of about 900,000 single seniors across Canada. Single seniors with annual income (other than Old Age Security and Guaranteed Income Supplement benefits) of about $4,600 or less will receive the full increase of $947. Above this income threshold, the amount of the increased benefit will be gradually reduced and will be completely phased out at an income level of about $8,400. Benefits will be adjusted quarterly with increases in the cost of living. " ("Growing the Middle Class" Budget 2016-2017)