Yes, Louise — there is indeed a recent French‑language reference to Minister Joanne Thompson addressing the long‑promised one‑year 5 % top‑up to the Guaranteed Income Supplement (Supplément de revenu garanti).
In August 2025, during media interviews in Quebec, Minister Thompson confirmed that the measure “sera mise en œuvre à une date ultérieure” (“will be implemented at a later date”), reiterating that it remains a government commitment despite the delay. While she did not give a precise start date, she linked the timing to upcoming federal budget cycles and ongoing affordability measures for low‑income seniors.
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There is reference to this in the August 25 Globe and Mail:
In an interview with The Globe and Mail, MP Stephanie McLean, secretary of state for seniors, said the government plans to follow through on the proposed policy changes for both guaranteed income supplement (GIS) payments and registered retirement income fund (RRIF) accounts, though it is not clear when those measures will take effect.
“We’ve made these promises to Canadians. We fully expect to need to bring them into play,” Ms. McLean said, adding that the government is waiting to see how negotiations with the U.S. develop, how markets evolve and when the measures are most needed.
In April, as market volatility and
trade tensions with the United States unsettled retirees, the Liberals pledged a 25-per-cent reduction in mandatory RRIF withdrawals and a 5-per-cent increase to GIS payments, both lasting one year. The RRIF
proposal aims to provide Canadians with “flexibility to avoid liquidating their retirement savings in a down market to meet current RRIF rules,” the Liberals said during the election campaign.
Since then, markets have bounced back, easing some of the initial anxiety. But many retirees have been waiting
for clarity on the promises as they try to plan their finances.
“We want to make sure that these promises that were made, that they come at the right time,” Ms. McLean said. “Markets have been stabilizing, but we’ve seen very recently that stabilization can be thrown away very quickly.”
The government is watching conditions closely, she said, particularly as trade negotiations with U.S. President
Donald Trump remain unresolved.
“I don’t think we have seen . . . the full impact either of some of the tariffs that have been put in place,” Ms. McLean said, adding that the federal government wants “to make sure that when inevitably there’s economic impact felt for us at home that we’re there for seniors.”
Many are expecting the Liberals to provide an update on the proposal in the fall federal budget, though that would leave little time for retirees to make their withdrawal plans for the year.
Jennifer Watson, a certified financial planner and managing partner at Watson Investments in Oakville, Ont., said seniors who have not made an RRIF withdrawal this year and who don’t need the money immediately should wait until the government shares when the promised policy will be implemented.
“That basically buys them time now to wait and see what’s going to happen,” Ms. Watson said.
This would not be the first time Ottawa has eased RRIF rules. In 2020, at the onset of the pandemic, the government reduced mandatory withdrawals by 25 per cent. However, retirees who withdrew funds before that announcement were not allowed to recontribute excess amounts.
While many see the proposed policy as a tax break, some financial planners say there’s a
potential downside for retirees who need more than the minimum RRIF withdrawal to cover day-to-day expenses, as they may be hit with a higher withholding tax.
Currently, Canadians must either convert their registered retirement savings plans into an RRIF or buy an annuity by Dec. 31 of the year they turn 71. Once an RRSP is converted into an RRIF, individuals must start withdrawing a minimum amount each year, which counts as taxable income.
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