Are you a low-income senior in Canada struggling to keep up with the rising cost of living? Well, you’re in luck! The federal government has announced three new payments to help you cope with the financial strain. In this article, we’ll break down the details of these payments, including the deposit news, dates, and eligibility criteria.
Table of Contents
Canada Emergency Response Benefit (CERB) – $2800
Remember the CERB program that helped employed and self-employed Canadians during the pandemic? Although it’s ended, there’s talk of a one-time payment of $2800 for eligible recipients. However, the deposit dates are still uncertain, so stay tuned for official announcements.
Canada Housing Benefit (CHB) – $1850
If you’re a low-income renter, the CHB is here to help with housing costs. This month, the program is expected to increase, offering up to $1850 annually. The Canada Revenue Agency will disclose the deposit date soon, so keep an eye on your bank account!
Old Age Security (OAS) – $960
The OAS pension provides monthly payments to Canadian seniors aged 65 and over. To match the cost of living, the OAS benefit will increase, offering eligible beneficiaries up to $960 annually. You can expect this increase in your August 1st, 2024 payment.
Deposit News and Payment Dates
Here’s a quick summary:
- CERB: No official deposit dates yet, so check the Canada Services website for updates.
- CHB: Expected to be announced soon, with payments arriving by the end of the month.
- OAS: Increased amount reflected in the August 1st, 2024 payment.
Eligibility Criteria
Make sure you meet the following criteria:
- CERB: Previously approved and received payments between specific dates.
- CHB: Pay rent for your primary residence and have a household income below the federal threshold.
- OAS: Canadian citizens or permanent residents who have lived in Canada for at least 10 years after turning 18, with a minimum income requirement.
Conclusion
These three payments aim to provide essential financial support to low-income seniors and other eligible individuals. Stay updated on official announcements for precise deposit dates and further details.
Frequently Asked Questions
When will the $2800 CERB payment be deposited?
Who is eligible for the $1850 CHB payment?
Low-income renters with a primary residence in Canada
How often is the OAS pension payment adjusted?
Annually, to account for inflation
When will the increased OAS payment be reflected?
In the August 1st, 2024 payment
Is there a minimum income requirement for the OAS pension?
Yes, to receive the full amount
