We’ve noticed a rise in COVID-19 scams by email, text and phone. Please be cautious. Here’s how you can protect yourself and what to do if you suspect fraud. You can also find the latest info on how we’re responding to the pandemic at sunlife.ca/covid-19.

Getting financial support from the government

Need help coping with the financial impact of COVID-19? Here’s how the federal government intends to support Canadians through this pandemic.*

For families with kids, who may need extra support

They’ll see their annual Canada Child Benefit (CCB) increase by $300 per child. (But this is only for the 2019-2020 benefit year.)

Here’s more information on increasing CCB payments this year

For Canadians with mortgages

Canadian banks are working with their customers on a case-by-case basis in relation to providing COVID-19 support. Please contact your bank or financial institution to discuss mortgage deferral.

The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers are allowing homeowners impacted by COVID-19 to defer up to six monthly mortgage payments.

Here’s more information on mortgage support

For Canadians who are sick, quarantined, unable to work or facing unemployment

They can receive the Canada Emergency Response Benefit (CERB). This benefit offers $2,000 per 4-week period. It’s offered to eligible Canadians.

Take a look at the Government of Canada’s page to see if you qualify or are eligible for this benefit.

Here’s more information on the Canada Emergency Response Benefit

For low- or modest-income families

Eligible Canadians can receive the Goods and Services Tax Credit (GSTC), which means an average boost of $400 for single individuals and $600 for couples. If you’re an eligible Canadian who’s currently receiving this credit, then you’ll continue to get it until the end of September 2020.

Click here to learn more about this credit

For seniors

Canadians with Registered Retirement Income Funds (RRIFs) and Registered Pension Plans may reduce their minimum withdrawals by up to 25% in 2020. To request a reduction, please contact us.

Here’s more information on support for seniors

For Canadians who are post-secondary students or recent grads

The Canada Emergency Student Benefit (CESB) offers a taxable benefit of:

  • $1,250 every 4 weeks to eligible students or
  • $2,000 every 4 weeks if you have dependents or a disability.

This benefit is available from May to August 2020.

Find out if you’re eligible to apply for CESB

Plus, you may be eligible to receive the Canada Student Service Grant (CSSG) if you’re volunteering to help your community with COVID-19 response. The CSSG offers a one-time payment (between $1,000 and $5,000) based on the number of volunteer hours you work.

To learn more, visit the Government of Canada’s “I Want to Help” Platform

For Canadians with student debts

They’ll get a six-month interest-free pause on the repayment of Canada Student Loans.

Here’s more information on support for students and recent grads

For Canadian employers or business owners

The Canada Emergency Wage Subsidy offers a 75% wage subsidy to eligible employers. This can help employers re-hire staff or avoid layoffs.

Here’s more information on the Canada Emergency Wage Subsidy

 

* For updates on when these actions will take effect, please visit the Government of Canada’s page on the COVID-19 Economic Response Plan.