Seniors: manage your finances

Get information about tax credits, benefits and government pensions available for seniors in Ontario, including veterans.

Click on the links below for more details on each program from the Ontario Government website

Tax credits and benefits

Get information about Ontario’s tax credit and benefit programs for seniors.

Medical: Reduced Co-payment for Lower Income Seniors

Depending on your annual income, you may be able to have the Ontario Drug Benefit Program $100 annual deductible waived and have your co-payment reduced to $2 per prescription.

Medical: Trillium Drug Program

If you have high prescription drug costs and a low household income, you may be able to pay $2 or less for every prescription.

Medical: ODB: Ontario Drug Benefit Program

Find out if the cost of your prescription drugs are covered by the province.

Income: GAINS: Ontario Guaranteed Annual Income System

If you are 65+ years old and receive the federal Old Age Security pension and the Guaranteed Income Supplement payments, you could get up to $83 per month to ensure your income stays above a certain amount.

Beginning in April 2020, monthly GAINS payment amounts will be automatically doubled for a period of six months. This action will provide additional and immediate financial support to low-income Ontario seniors who may need more help to cover essential expenses during the COVID-19 outbreak.

Learn what financial, mental health and other supports are available during COVID-19.

Income: Provincial Land Tax Deferral Program for Low-Income Seniors and Low-Income Persons with Disabilities

For low-income seniors and low-income people with disabilities. Apply for an annual deferral of part of the provincial land tax and education tax increases.

Income: Ontario Electricity Support Program

Provides low-income consumers with a monthly on-bill credit to reduce electricity bills.

Public Transit: Ontario Seniors’ Public Transit Tax Credit

If you’re 65 years or older, find out if you could get a tax credit to help with public transit costs.

Homes and vehicles: Home and Vehicle Modification Program

You could get money to help with the cost of making your home and vehicle more accessible if you or your child has a disability that restricts mobility.

Homes: Ontario Senior Homeowners' Property Tax Grant

If you are 64+ years old and own a home, you could get up to $500 to help with the cost of property taxes.

Municipal initiatives

Contact your local municipality for information about initiatives such as:

Ontario Renovates – provides forgivable loans to eligible low-income homeowners and landlords to make necessary repairs to home or units to increase accessibility and create affordable rental housing or single-family homes
Property Tax Relief for Low-Income Seniors and Low-Income Persons with Disabilities – provides relief from property tax increases that result from assessment reform for low-income seniors and people with disabilities who own residential property

Government pensions

Seniors in Ontario can apply for pensions and programs from both the federal and provincial governments.

Find out about eligibility requirements, how much money you could receive, and how to apply for the:

Canada Pension Plan – provides pensions and benefits when contributors retire, become disabled, or pass away
Old Age Security pension – a monthly payment available to most people age 65 or older who meet legal status and residence requirements
Guaranteed Income Supplement – provides a monthly non-taxable benefit to Old Age Security recipients who have a low income and are living in Canada
Ontario Guaranteed Annual Income System (GAINS) – a provincial program that ensures a guaranteed minimum income for qualifying Ontario seniors. Monthly payments are on top of the federal Old Age Security pension and the Guaranteed Income Supplement payments you may also receive

Pensions and benefits for veterans

Benevolent funds assist veterans, ex-service personnel and their dependents. The assistance is usually for basic needs such as food and housing.

Ontario’s Soldiers’ Aid Commission

The Ontario’s Soldiers’ Aid Commission provides assistance to Canadian veterans in need who served overseas and their dependants living in Ontario. The assistance is provided on a one-time basis to resolve a specific problem when all other resources have been exhausted. It does not support ongoing needs related to income deficiencies.

Funds may be granted to assist with buying:

health-related items, like hearing aids, glasses, prescription drugs or dental needs
home-related items, like rent, repairs, moving costs, furniture, repair/replacement of roof and furnace
specialized equipment, like assistive devices, wheelchairs and prosthetics
personal items, like clothing and specialized support services

Get information and apply for benevolent funds, including Ontario’s Soldiers’ Aid Commission, by contacting your local Royal Canadian Legion or Veterans Affairs Canada office.

Veterans Affairs Canada

Veterans Affairs Canada offers a range of services and benefits to eligible veterans and others. The benefits are available for conditions related to service in the Merchant Navy, Canadian Forces, Royal Canadian Mounted Police (RCMP) or those serving in support of the Canadian Forces in wartime or in Special Duty/Operational Areas.

Get more information and find out how to apply for:

War Veterans Allowance

The War Veterans Allowance is available to eligible low-income veterans of the Second World War or Korean War. Surviving spouses, common law partners and orphans may qualify for this allowance if the deceased veteran had the required war service.

Get more information about the allowance, including eligibility requirements and how to apply.