Finance

Time is running out for pensioners to claim Pension Credit and secure the Winter Fuel Payment, potentially worth up to £300. The deadline for applications is Saturday, 21 December, and claims approved by this date will grant access to essential financial support for older individuals during the colder months. Here’s a detailed breakdown of what Continue reading

What Is Attendance Allowance? Attendance Allowance is a financial benefit provided to people over State Pension age who have a disability, long-term illness, or health condition that makes it challenging to look after themselves. This benefit, administered by the Department for Work and Pensions (DWP), is designed to help with the extra costs of daily Continue reading

New Nationwide Savings Accounts Offer Competitive Interest Rates Nationwide, the world’s largest building society, has introduced new savings account options that could leave customers significantly better off. Both new and existing customers can take advantage of these accounts to earn up to £392 in interest over a year. The building society recently launched new issues Continue reading

The federal government is making strides toward simplifying tax filing for Canadians by expanding automatic tax filing initiatives. As outlined in the 2024 Fall Economic Statement, the Canada Revenue Agency (CRA) is working to modernize the tax system and reduce the need for costly, complex tax filing services. Success of Pilot Programs Paves the Way Continue reading

The Alberta government has confirmed receiving a report from Canada’s chief actuary regarding its potential exit from the Canada Pension Plan (CPP). However, the long-awaited analysis did not include a specific figure or formula for calculating how much the province might be entitled to. Alberta Awaits a Definitive Pension Calculation After months of anticipation, Alberta’s Continue reading

Major Tax Relief for Canadians with Disabilities The federal government has proposed a game-changing amendment to the Income Tax Act, ensuring that payments from the Canada Disability Benefit will not be treated as taxable income. This announcement, part of the fall economic statement released on Monday, aims to maximize the benefit’s impact for recipients and Continue reading

A significant change is coming into effect for Aussies living overseas who use Centrelink services. Starting this week, foreign currency cheques and international money orders will no longer be accepted as payment methods. Why Are Foreign Cheques Being Phased Out? From December 19, Services Australia will no longer process payments made via foreign currency cheques Continue reading

What is the OAS Clawback? The Old Age Security (OAS) clawback, or OAS pension recovery tax, is a mechanism where the Canadian government reduces your OAS payments if your income exceeds a set annual threshold. Designed to ensure fair allocation of benefits, it applies to higher-income retirees. If your income surpasses these limits, you may Continue reading

The Canada Pension Plan (CPP) is a vital source of retirement income for Canadians. By contributing throughout your working life, you become eligible for a monthly pension during retirement. The amount you receive depends on the duration and amount of your contributions. When Should You Start Receiving CPP? The CPP offers flexibility in choosing when Continue reading

As 2025 approaches, over one million Australians reliant on social security payments are set to receive a welcome boost. From January 1, welfare payments will increase by 3.8%, an adjustment aimed at keeping up with inflation and the rising cost of living. Key Changes to Welfare Payments These adjustments are part of the government’s annual Continue reading