As we enter 2025, many Canadian seniors are seeing changes in their retirement benefits. While there’s no ongoing $2,500 monthly increase, there are meaningful updates to Canada Pension Plan (CPP) and Old Age Security (OAS) payments. Understanding the new amounts, eligibility, and how benefits are structured can help retirees make smart financial decisions. CPP & OAS Payments 2025: Latest Amounts … Read more
The Canada Child Benefit (CCB) is a tax-free monthly payment provided to eligible families to assist with the cost of raising children under 18 years of age. For the benefit year July 2024 to June 2025, the maximum annual CCB amount has been increased to $7,787 per child under 6 and $6,570 per child aged … Read more
The Canada Revenue Agency (CRA) initiated a $2,350 one-time relief payment in December 2024 to support eligible seniors facing increased living costs. While many received this payment in December or January, some experienced delays due to processing issues. To qualify for this payment, individuals must: The CRA automatically deposits the payment into the bank accounts of eligible … Read more
To support Canadians living with disabilities, the federal government is introducing a $200 monthly disability benefit under the new Canada Disability Benefit (CDB) program. Scheduled to launch in July 2025, the benefit aims to improve financial stability and reduce poverty among low-income individuals with disabilities. This guide provides the latest updates on eligibility, payment dates, … Read more
Recent rumors suggest a $3,500 Old Age Security (OAS) payment for Canadian seniors in May 2025. However, according to official sources, there is no such lump-sum payment scheduled. The standard OAS payments continue as usual, adjusted quarterly based on the Consumer Price Index (CPI). OAS Payment Details (April–June 2025) Age Group Maximum Monthly OAS Payment … Read more
In May 2025, Canadians aged 60 and over are seeing a significant increase in retirement pension payments. The Canada Pension Plan (CPP) now offers a maximum monthly benefit of $1,433, while the Old Age Security (OAS) payment for those aged 75 and over has climbed to $800.44/month. Together, this gives eligible retirees a possible combined federal retirement benefit of $2,233.44/month, or over $26,800/year—a welcome improvement … Read more
Losing a loved one is never easy, and financial hardship can make it even harder. The Canada Pension Plan (CPP) Survivor Benefits exist to help surviving spouses, partners, and dependents navigate the financial challenges that come with the death of a contributor. As of May 2025, several updates have been made to ensure better support and increased accessibility … Read more
Recent discussions have surfaced regarding a $3,900 monthly payment from the Canada Revenue Agency (CRA) in 2025. However, upon thorough review, there is no official CRA program offering such a payment. This article aims to clarify the situation, outline existing federal benefits, and provide accurate information on eligibility and payment schedules. Understanding the $3,900 Payment … Read more