With the holiday season in full swing, many residents may find themselves facing rising expenses. However, a round of government benefit cheques set to go out to eligible individuals in January and February aims to provide some much-needed relief.
Here are the upcoming payment dates:
Canadian Pension Plan and Old Age Security
The Canadian retirement benefits system includes the Old Age Security pension, guaranteed income supplement, allowance, and allowance for the survivor, along with the Canadian Pension Plan.
- CPP: Residents over 65 are eligible for a maximum monthly payment of $1,306.57.
- OAS Pension: Individuals aged 65 to 74 with an annual income below $142,609 can receive up to $707.68 per month. Those 75 and over with an income below $148,179 may receive up to $778.45 monthly.
The Canadian Pension Plan and Old Age Security payments are sent out monthly. Here are the upcoming payment dates:
- Jan. 29
- Feb. 26
Child Tax Credit
The Canada Revenue Agency (CRA) oversees the tax-free monthly Child …