February is just around the corner, and Canadians can look forward to receiving a fresh batch of government benefit payments. These payments, managed by the Canada Revenue Agency (CRA), provide vital support to millions, helping with everything from child care to retirement costs. Here’s a detailed guide to the six key benefit payments available this month, who qualifies for them, how much you can expect, and when the money will arrive in your account.
Table of Contents
1. Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit (OTB) supports low- and moderate-income Ontarians by helping with energy bills, property taxes, and sales taxes. It combines three credits:
- Ontario Energy and Property Tax Credit (OEPTC)
- Northern Ontario Energy Credit (NOEC)
- Ontario Sales Tax Credit (OSTC)
Eligibility
To qualify, you must have filed your 2023 income tax return. For those eligible for $360 or less annually, the entire amount would have been issued as a lump sum in July.
Payment Details
- OEPTC: Up to $104 for individuals aged 18–64 or $118.41 for those 65+.
- NOEC: Up to $15 for singles or $23.08 for families.
- OSTC: Up to $30 for each family member.
Next Payment Date
- February 10, 2025
2. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment designed to help families cover the costs of raising children under 18 years old.
Eligibility
- Must live with a child under 18.
- Must be their primary caregiver.
- At least one parent must meet Canadian residency requirements.
Payment Details
Families with a 2023 adjusted net income under $36,502 are eligible for maximum payments:
- $648.91 for each child under 6.
- $547.50 for each child aged 6–17.
Additional support may be available for disability-related needs or provincial programs.
Next Payment Date
- February 20, 2025
3. Old Age Security (OAS)
Old Age Security (OAS) offers monthly financial support to Canadians aged 65 and older, whether they are retired or still working.
Eligibility
- Must be at least 65 years old.
- Minimum of 10 years of residency in Canada after age 18 (20 years for those living abroad).
Payment Details
- $727.67 monthly for those aged 65–74.
- $800.44 monthly for those aged 75+.
Payments are adjusted quarterly for inflation but remain unchanged this quarter. An automatic 10% increase applies after turning 75.
Next Payment Date
- February 26, 2025
New PEI Child Benefit: Financial Boost for Families Starting January 2025
Canada Benefits You Must Apply For in 2025: Don’t Miss Out!
2 Big Changes in Canada’s 2025 Federal Budget: Key Benefits and New Proposals
Alberta Child and Family Benefit Payment Dates 2025: Amounts, Eligibility & Income Criteria
4. Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) provides steady monthly income for Canadians after retirement. If you live in Quebec, the Quebec Pension Plan (QPP) operates as a similar program.
Eligibility
- Must be at least 60 years old.
- Must have made at least one CPP contribution.
Payment Details
- Maximum monthly payment for those starting CPP at age 65: $1,433.
- Payments depend on contributions and lifetime earnings.
Next Payment Date
- February 26, 2025
5. Alberta Child and Family Benefit (ACFB)
The Alberta Child and Family Benefit (ACFB) supports families in Alberta with children under 18. This tax-free benefit is distributed quarterly.
Eligibility
Payments are based on family income, with reductions as income rises.
Payment Details
Maximum quarterly payments (July 2024–June 2025):
- $555.25 for the first child.
- $355 for the second child.
- $286.25 for the third child.
- $217.50 for the fourth child.
Next Payment Date
- February 27, 2025
6. Veteran Disability Pension
The Veteran Disability Pension provides lifelong financial support to veterans living with disabilities caused by their military service.
Eligibility
- Must have a diagnosed medical condition linked to military service.
- Includes Canadian Armed Forces veterans, certain RCMP members, and some Second World War or Korean War veterans.
Payment Details
- Maximum monthly payment for highest disability rating: $3,444.59.
- Additional payments:
- $861.15 for a spouse.
- $447.80 for the first child.
- $327.23 for the second child.
- $258.34 for each additional child.
Next Payment Date
- February 27, 2025
Final Thoughts
These government benefit payments provide essential financial relief to millions of Canadians. Whether you’re supporting a family, planning for retirement, or managing a disability, these programs offer crucial assistance. Ensure your tax filings are up-to-date to qualify and receive these payments without delay. For further details, visit the CRA’s official website.
Leave a Reply