Ontario residents are in for a welcome surprise this August. The Canada Revenue Agency (CRA) has approved three enhanced benefit payments that aim to relieve the financial pressure of rising living costs. These benefits include a boosted Canada Child Benefit (CCB), an upgraded Ontario Trillium Benefit (OTB), and increased support for seniors through Canada Pension Plan (CPP) and Old Age Security (OAS). If you’re […]
As Canada enters a new phase of demographic and economic change, discussions are heating up about potential updates to retirement rules. With the population aging rapidly, living longer, and costs climbing, the federal government is considering reforms that could delay retirement age, increase pension contributions, and modify benefits like the Canada Pension Plan (CPP) and […]
Residents of Ontario should monitor their bank accounts closely this month, as the Ontario Trillium Benefit (OTB) is being deposited earlier than usual. Typically released on the 10th of each month, the August 2025 payment will instead be issued on Friday, August 8, since the standard date falls on a weekend. This adjustment ensures beneficiaries […]
The Canada Revenue Agency (CRA) is set to distribute the next installment of the GST/HST credit in August 2025, with eligible low- and moderate-income Canadians receiving up to $179. This tax-free quarterly benefit helps offset the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) paid on everyday purchases. If you live in Canada […]
As Canada moves through 2025, the retirement age and pension withdrawal rules have become a national conversation, with mounting pressure on the federal government to reassess existing policies. With Canadians living longer and the cost of living rising, this debate touches nearly every citizen—especially those nearing the age of 60 or older. From Canada Pension […]
Starting July 29, 2025, eligible Canadian retirees will see their Old Age Security (OAS) payments rise to $727.67 or $800.44, depending on age. This increase aims to help seniors manage rising costs for essentials like food, housing, and healthcare. If you’re aged 65 and older, here’s everything you need to know about the boost, eligibility, and when you’ll be paid. What’s […]
The Canadian government has officially confirmed a $2,200 one-time direct payment for eligible citizens in 2025. This measure aims to provide relief amid rising living costs, particularly for seniors, disabled individuals, and low-income households. With food prices, rent, and healthcare costs increasing nationwide, this tax-free financial assistance offers much-needed support. Why the $2,200 Direct Payment Is Being Issued With inflation […]
In 2025, eligible Canadian seniors are set to receive a significant financial boost of up to $4,000 per year through increases in their Canada Pension Plan (CPP) and Old Age Security (OAS) payments. This combined benefit increase is aimed at helping retirees cope with rising living costs and providing more stability for low- and moderate-income pensioners. What Is the $4,000 CPP […]
As we move through 2025, the Canada retirement age and pension system are once again in the spotlight. Rising inflation, increasing life expectancy, and long-term sustainability concerns about the Canada Pension Plan (CPP) and Old Age Security (OAS) have ignited a fierce national debate. With over 20% of Canadians projected to be 65 or older by 2030, pressure is mounting on policymakers […]
If you’ve seen news of a $2,900 Canada Pension Plan (CPP) boost, you’re not alone—but the truth is more nuanced. While the CPP itself hasn’t suddenly increased by $2,900, the combined value of federal retirement benefits—including CPP, Old Age Security (OAS), and the Guaranteed Income Supplement (GIS)—can total up to $2,900 per month for certain retirees in 2025. Here’s a breakdown […]
