‘A freaking joke’: Canadian seniors ‘furious’ they won’t get Trudeau’s $250 rebate, say ‘skyrocketing’ prices hitting them hard — 6 ways to stretch your budget on a fixed income

Who gets the rebate cheque?

In April 2025, the federal government plans to give Canadians who made $150,000 per year or less in 2023 a "Working Canadians Rebate" of $250, while also meeting the following criteria: the individual must have received EI benefits, paid EI premiums or made CPP contributions.

According to Katherine Cuplinskas, deputy director of communications for Deputy Prime Minister and Finance Minister Chrystia Freeland, many seniors work so they are eligible for the Working Canadians Rebate.

In an email to CTVNews.ca, Cuplinskas says the Liberal government has raised benefits for all seniors across the country since 2015. For example, it reversed the Conservative decision to increase the Old Age Security (OAS) and Guaranteed Income Supplement (GIS) eligibility age from 65 to 67.

The government also amended the Canada Pension Plan to give a top-up to the death benefit and provided a 10% increase to the maximum GIS benefit for the lowest income single seniors, as well as boosted OAS benefits for seniors 75 and older by 10%, she added.

Sheaves was just one of the seniors who shared her frustration with CTVNews.ca about not being included in the 18.7 million Canadians who are expected to qualify for the rebate.

Bill Cole of Toronto wrote an email to CTVNews.ca saying he feels the exclusion of retired seniors is a "discriminatory insult."

"Retired seniors represent a significant voting block and many are facing significant affordability issues as inflationary pressure eat away at our retirement income," Cole adds.

Meanwhile, Pamela Dudas of Vancouver is eligible for the rebate since she worked last year.

The 67-year-old former accountant retired this year but wants to find another job since she only gets about $26,000 a year from her government pension and is finding it difficult to make ends meet.

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Stretching your retirement dollars when costs are high

If you, like Sheaves and other retirees, feel left behind because you won’t be getting the rebate cheque, there are ways to stretch your retirement dollars.

1. Become a landlord - renting out part of your home guarantees you a monthly income stream
2. Move into a smaller house or apartment - downsizing means less utility costs, maintenance and property taxes
3. Invest - whether it's a GIC ladder or annuity, investments can mean cash flow or leaving something behind for loved ones
4. Work - if you’re able to, get back into the workforce and find something you enjoy doing
5. Get a line of credit against your house - instant cash available for you to spend
6. Be frugal - less frivolous spending means more money in the bank

When it comes to watching your money as you grow older, there are ways you can maximize what you have, even if it doesn’t include an extra $250.

Sources

1. CTV News: 'It's just not fair': Retirees speak out on being excluded from federal rebate cheques (Nov. 26, 2024)