Inflation has significantly reduced the purchasing power of many individuals, making it difficult to afford basic necessities. This has affected not only their standard of living but also their ability to meet essential food and healthcare expenses. In response, the Canadian government has introduced financial support measures to assist individuals struggling with inflation. The CPP … Read more
In 2025, significant updates are coming to Canada Pension Plan (CPP) and Old Age Security (OAS) that will impact both current retirees and working Canadians. These changes affect contribution amounts, eligibility age, and benefit increases, making it crucial for all Canadians to stay informed. Below, we delve into the three key modifications expected in 2025. … Read more
Staying informed about your government benefit payment dates is crucial to managing your finances. In March, eligible Canadians will receive payments for various federal and provincial benefits, including the Ontario Trillium Benefit (OTB), Canada Child Benefit (CCB), Canada Pension Plan (CPP), Old Age Security (OAS), Ontario Disability Support Program (ODSP), and the Veteran Disability Pension. … Read more
As March 2025 approaches, many Canadians are eager to understand the anticipated $2,900 annual increase in Canada Pension Plan (CPP) benefits. This enhancement aims to provide greater financial security during retirement. This article delves into the specifics of this increase, eligibility criteria, and strategies to maximize your CPP benefits. Understanding the $2,900 CPP Increase The … Read more
Canada’s national pension plan is facing significant criticism for failing to meet its climate change commitments, while some of the country’s leading pension funds are actively working to meet their ambitious sustainability goals. According to the Shift Action for Pension Wealth and Planet Health report released on February 19, Canada’s pension fund managers are not … Read more
In 2025, millions of Canadians will benefit from various government financial programs designed to offer support and stability. These include Canada Pension Plan (CPP), Old Age Security (OAS), Canada Workers Benefit (CWB), Climate Action Incentive Payment (CAIP), and the Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit. These payments are essential in helping retirees, low-income … Read more
As the 2025 tax season approaches, Canadian taxpayers have a prime opportunity to reduce their tax liabilities by leveraging available credits and deductions. Understanding and claiming these benefits can lead to significant savings. Here are three substantial tax breaks to consider for your 2025 tax return. 1. Home Buyers’ Amount Purchasing a home is a … Read more
As February 2025 approaches, many Canadian seniors are eagerly awaiting their Canada Pension Plan (CPP) payments. For new beneficiaries, the standard monthly CPP payment in 2025 will be around $1,433, but under certain circumstances, some individuals could receive up to $1,700. This increased amount depends on factors such as additional benefits and delayed retirement credits. … Read more
