Emma

The Old Age Security (OAS) program in Canada is a cornerstone of financial support for seniors, providing a monthly pension to eligible individuals aged 65 and over. Here’s what you need to know about the current maximum payments, income thresholds, and the outlook for adjustments in 2025. Current OAS Payment Levels (October to December 2024) Continue reading

Retirement in Canada is becoming increasingly challenging, with many retirees facing significant obstacles. Here are six major reasons for these struggles: 1. Rising Cost of Living The cost of essentials like groceries, healthcare, and utilities has skyrocketed due to inflation, making it difficult for retirees on fixed incomes to keep up. 2. Inadequate Retirement Savings Continue reading

Canada has unveiled a comprehensive suite of new benefits aimed at supporting workers and families grappling with today’s economic challenges. These initiatives reflect the nation’s commitment to inclusivity, providing relief to citizens, permanent residents, and other residents for tax purposes, including temporary workers and international students. Let’s dive into how these programs are set to Continue reading

The Canada Pension Plan (CPP) Survivor’s Pension is a vital financial support system for surviving spouses, common-law partners, and dependents of deceased CPP contributors. Understanding the eligibility criteria, payment structure, and application process can help survivors maximize their benefits during a challenging time. Eligibility Criteria for CPP Survivor’s Pension To qualify for the CPP Survivor’s Continue reading

The Old Age Security (OAS) pension is a monthly payment available to eligible seniors aged 65 and older in Canada. However, the amount received by each senior is not necessarily the same, as it depends on factors like residency in Canada, income, and eligibility for additional benefits. Basic OAS Amount As of October 2024, the Continue reading

The Canada Disability Benefit (CDB) is designed to provide financial assistance to Canadians who experience long-term disabilities, ensuring they can access support for their basic needs. Below, we outline the eligibility criteria for three core components of disability benefits: the Canada Pension Plan (CPP) Disability Benefit, the CPP Post-Retirement Disability Benefit, and the CPP Children’s Continue reading

The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment designed to assist individuals and families with low to modest incomes by offsetting the GST/HST they pay. Below is updated information about the payment dates, amounts, and eligibility thresholds for 2025. GST Payment Dates for 2025 Recipients can expect their GST/HST Continue reading

A recent study by Canada Pension Plan (CPP) Investments reveals a sobering statistic: 61% of Canadians fear running out of money during retirement. With financial stress mounting amid rising inflation and living costs, this anxiety affects Canadians across all age groups, particularly younger generations. Let’s explore why retirement finances are causing sleepless nights and how Continue reading