Written By: Anushka
The CPP and OAS payments will be distributed on July 26 and 29, 2024, respectively.
To qualify for CPP and OAS, citizens must have completed the required years of contributions and residency in Canada.
Eligible retirees will receive payments through direct deposit to their bank accounts after CRA approves their applications.
CPP and OAS payments are issued in the last week of each month, with July 2024 payments scheduled for the 26th and 29th.
The maximum CPP retirement benefit is $1300, and the disability benefit is over $1500. The current indexing rate is 4.8%.
CPP benefits are expected to increase in 2024, helping retirees manage living costs and ensuring a steady income.
Retirees can check their payment details on the My CRA Account and should plan their finances accordingly.