What is the Ontario Guaranteed Annual Income System?
The Ontario Guaranteed Annual Income System (GAINS) is a provincial program designed to provide a guaranteed minimum income to low-income seniors in Ontario, supplementing their federal Old Age Security (OAS) and Guaranteed Income Supplement (GIS) payments. The program ensures that eligible seniors have a modest level of income each month to help cover basic living expenses.
Who is eligible for the Ontario Guaranteed Annual Income System?
To be eligible for GAINS, individuals must be Ontario residents, 65 years of age or older, and receiving the OAS and GIS benefits. They must also meet certain income requirements. GAINS targets the most financially vulnerable seniors by topping up their income to a specified minimum level, depending on income and marital status.
Seniors who are eligible for GAINS automatically receive it if they already receive the GIS. There is no need to apply separately; eligibility and payment calculations are handled by the government based on income data provided through annual tax returns.
How much is the Ontario Guaranteed Annual Income System?
GAINS payments vary based on other income the senior receives. The program is designed to fill the gap between a senior’s total monthly income, including OAS and GIS, and the established income threshold set by the Ontario government. The maximum monthly GAINS payment for an individual is adjusted periodically to reflect changes in living costs and other economic factors.
Why and when did the Ontario Guaranteed Annual Income System start?
The Ontario Guaranteed Annual Income System (GAINS) was established in 1973. The program was designed to provide a guaranteed minimum income to low-income seniors in Ontario, supplementing their federal Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefits. Since its inception, GAINS has been an important part of the provincial social safety net, aiming to ensure that seniors in Ontario have sufficient income to cover their basic living expenses.