In response to rising inflation, the Canadian government has introduced additional support for senior citizens through a $1,200 extra Old Age Security (OAS) payment. This one-time payment is part of a broader relief effort aimed at helping seniors manage the increased cost of living. What is the $1,200 Extra OAS Payment? The $1,200 payment is Continue reading
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Canada Disability Benefit Increase for 2025: Everything CPP Pensioners Need to Know
As Canada continues to enhance its social support programs, the Canada Pension Plan (CPP) disability benefit is set to see a significant increase in 2025, offering greater financial support to those unable to work due to severe and prolonged disabilities. With enhancements to benefit amounts and continued adjustments for inflation, the program aims to better Continue reading
CPP Adjustments: How Much will CPP Increase in Jan 2025
The Canada Pension Plan (CPP) ensures that Canadians’ retirement benefits keep pace with the rising cost of living. Each year, adjustments to CPP payments are based on changes in the Consumer Price Index (CPI). Let’s dive into how this works and what you can expect in 2025. CPP Rate Adjustments: Keeping Up With Inflation CPP Continue reading
How Can You Avoid CPP and OAS Clawback in 2025?
If you’re receiving CPP Canada Pension Plan benefits, you may wonder whether you’ll eventually face the Old Age Security (OAS) clawback. The OAS clawback is a reduction of $0.15 for every dollar of income you earn above $90,977 (as of 2024). Once your income reaches $149,000, your OAS payments are fully clawed back, leaving you Continue reading