OAS/CPP Benefit Payment 2024, Check Eligibility, Amount & Payment Dates The CRA aims to provide continuous support to citizens who are struggling with financial pressure. Citizens are given payments of OAS and CPP which are old age and retirement benefits respectively. The OAS/CPP benefit payment coming on October 29 has been in the news and it is absolutely true because citizens will be given the benefits of the respective amount on this date. Beneficiaries should check the OAS/CPP payment eligibility 2024 to know who can get the benefits. The OAS/CPP payment amount 2024 will be according to the eligibility age. Here article will help you to get all the updates on the payments for beneficiaries.
Canada Revenue Agency is the organization that helps citizens with monthly or quarterly payments to help them in their old age. Retirement benefits are given to citizens from the age of 65 and these benefits are the Canada Pension Plan. The benefits will be based on the age limit when you decide to start your pension as well as the contributions you make to the plan. The second benefit is the Old Age Security Pension and this benefit depends on the age of the citizen and there is no provision for any work history under this benefit. The payment is given from the federal income and it is given on the same date on which you get the CPP benefit.
OAS/CPP Benefit Payment 2024 Overview
Post Title | OAS/CPP Benefit Payment Coming On October 29 |
Organization | (Canada Revenue Agency) – CRA |
Benefits | {Canada Pension Plan} CPP and [Old Age Security] OAS |
Country | Canada |
Beneficiaries | Low income citizens |
Payment Frequency | Monthly |
Payment status | Not to be given |
Basic CPP Benefit Amount 2024 | $1364 per month |
OAS Payment Amount 2024 | $727.67 |
OAS/CPP Payment Dates 2024 | October 29, 2024 |
Payment status | Coming soon |
Post Type | Finance |
Payment mode | Online |
Official Website | https://www.canada.ca/ |
OAS/CPP Benefits Payment Dates 2024
Payment Month | OAS/CPP Payment Dates 2024 |
October 2024 | 29 October 2024 |
November 2024 | 27 November 2024 |
December 2024 | 20 December 2024 |
Eligibility CPP/OAS Benefits Payment 2024
To qualify for this increase, individuals must already be receiving either CPP or OAS benefits. Here’s a closer look at the eligibility:
- CPP Eligibility: Must be at least 60 years old, with contributions made during your working years. Most people start receiving CPP at 65 to get the full benefit.
- OAS Eligibility: Must be 65 years or older, and have lived in Canada for at least 10 years after turning 18. There are no contribution requirements for OAS, making it accessible even to those who haven’t worked in Canada.
OAS/CPP Benefits Payment Amount 2024
Particulars | Amount For October |
CPP | $1364.60 |
OAS for Age 65 to 74 years | $727.67 |
OAS for Age 75 years or above | $800.44 |
How to Claim the CPP /OAS Benefits Payment 2024?
If you are already receiving CPP or OAS benefits, you do not need to take any action to receive the increase. It will automatically be included in your regular payment. However, if you are approaching retirement and have not yet applied for these benefits, here is a simple guide to apply:
- Visit the CRA’s Official Website: Go to Canada.ca and navigate to the CPP/OAS section.
- Create a My Service Canada Account (MSCA): If you don’t already have one, you will need this account to access your retirement benefits.
- Complete the Application: Fill out the necessary forms for CPP and/or OAS, and provide proof of age, residency, and citizenship.
- Submit the Application: Once submitted, CRA will review your application, and you will be notified about your approval status.
Important Links
Official Website | Click Here |
Home Page | Click Here |