CPP and OAS Payment Dates for July-August 2024

Written By: Anushka

Schedule

The CPP and OAS payments will be distributed on July 26 and 29, 2024, respectively.

Eligibility

To qualify for CPP and OAS, citizens must have completed the required years of contributions and residency in Canada.

Process

Eligible retirees will receive payments through direct deposit to their bank accounts after CRA approves their applications.

Monthly

CPP and OAS payments are issued in the last week of each month, with July 2024 payments scheduled for the 26th and 29th.

Amount

The maximum CPP retirement benefit is $1300, and the disability benefit is over $1500. The current indexing rate is 4.8%.

Increase

CPP benefits are expected to increase in 2024, helping retirees manage living costs and ensuring a steady income.

Plan

Retirees can check their payment details on the My CRA Account and should plan their finances accordingly.

Social Security Benefits Changes Impact Retirees’ Monthly Checks