Canada To Distribute Payments to Seniors in 2024

In September 2024, Canadian seniors who receive Old Age Security (OAS) and Canada Pension Plan (CPP) benefits may be eligible for a $2,350 CRA payment, although official confirmation is still pending. The OAS provides a fixed payment, while the CPP varies based on individual contributions, with a maximum payment of approximately $1,364.60. Concurrently, the Australian Centrelink is set to adjust its payment dates and eligibility criteria to support citizens facing financial challenges, reflecting an increase in benefits due to inflation. Seniors in Australia can receive the Age Pension, which is approximately $1,020.60 per fortnight. Furthermore, rumors suggest a potential $1,300 monthly increase in CPP benefits for Canadians, with expectations for an official announcement soon. Lastly, reports indicate a possible $4,800 payment from CRA for retirees, though this amount may encompass total assistance from multiple programs rather than a single disbursement.