Sophie Wilson Understand the eligibility criteria for Canadian retirement benefits, including CPP, OAS, and GIS. Learn who qualifies for these programs and how to apply. Get detailed information to ensure you receive the retirement benefits you’re entitled to. Canada Pension Plan (CPP) Old Age Security (OAS) Guaranteed Income Supplement (GIS) Important Notes CPP & OAS Payment Increase … Read more
Latest updates on the Canada Pension Boost, including the expected increases in CPP and OAS for 2024. Learn how much your benefits could rise and when the changes will take effect. Stay informed to maximize your retirement income and financial planning. The Canada Pension Plan (CPP) and Old Age Security (OAS) are essential programs providing … Read more
Learn about the CPP and OAS Cost of Living Adjustment for 2024, including its impact and calculation. Discover how these adjustments affect your benefits and what you can expect in the coming year. Stay informed on the latest updates to plan your finances effectively. Understanding the COLA The Cost of Living Adjustment (COLA) is an … Read more
In 2024, Canadians will see several cost of living adjustments to key benefits such as the Canada Pension Plan (CPP), Old Age Security (OAS), the GST/HST credit, and the Canada Child Benefit (CCB). These changes are intended to help Canadians keep pace with inflation and rising costs of living. The Cost of Living Increase is … Read more
Discover important details about CPP payment dates 2024, disability benefit payment dates, increases, amounts, and limits in this article. We provide comprehensive information on these aspects, along with other crucial details. The Canada Pension Plan (CPP) is a monthly payment scheme for eligible individuals in Canada, offering two categories: Retirement Pension and Disability Benefits. Each … Read more
Deciding whether to take your Canada Pension Plan (CPP) benefits at age 60 is a significant decision that can impact your financial security in retirement. Here are five critical factors to consider before making this choice: 1. Impact on Monthly Benefits 2. Health and Longevity 3. Employment Status 4. Other Sources of Income 5. Inflation … Read more
Yes, CPP (Canada Pension Plan) payments do increase with inflation. The CPP is designed to help retirees maintain their purchasing power even as the cost of living rises over time. This adjustment process is known as “indexing.” How Does Indexing Work? The CPP payments are indexed to inflation annually, which means that every year, the … Read more
The Canada Pension Plan (CPP) is a valuable resource for Canadian retirees, but is it enough to cover your retirement expenses? As of 2023, the average CPP benefit is around $760 per month or approximately $9,120 annually. Unfortunately, this amount falls short of what many retirees need to maintain their standard of living. Financial experts … Read more
Learn what happens to your CPP contributions if you leave Canada and how to claim your CPP benefits. Discover the rules for expatriates, eligibility requirements, and how moving abroad affects your retirement income. Stay informed to protect your financial future. What Happens to Your CPP Contributions If You Leave Canada? If you leave Canada, you … Read more
The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment provided by the Canadian government to help individuals and families with low or modest incomes offset the cost of GST/HST. For those receiving the GST/HST credit, it’s important to know the payment dates and how to ensure you receive your payments, … Read more