Which of the following statements about the Guaranteed Income Supplement (GIS) benefits is NOT true?

The Guaranteed Income Supplement (GIS) is a crucial component of Canada's pension system, specifically aimed at providing financial support to low-income seniors. The statement that GIS benefits will not be affected by income earned is not true, as the benefits are indeed influenced by the overall income of the applicant.

GIS is designed to supplement the Old Age Security (OAS) pension for individuals who have little to no other income. Thus, eligibility for GIS is contingent upon meeting specific age and residency requirements, confirming that statement about age and residency is accurate. Additionally, the purpose of the GIS is to support seniors who find themselves in financial need, solidifying the notion that it is intended for low-income seniors.

Furthermore, the GIS benefits can be reduced based on other income streams, such as earnings from part-time work or other sources of income, which underscores the need for individuals to report their income accurately when applying for these benefits. Overall, the GIS is structured to ensure that those most in need receive appropriate support, highlighting the fiscal responsibility of the program.