This article will help you understand when you will get your CPP and OAS benefits in June 2024. These payments are important for retired citizens in Canada. Knowing the exact dates helps in planning your expenses.
What are CPP and OAS?
CPP (Canada Pension Plan) and OAS (Old Age Security) are two important benefits for Canadian retirees. CPP is based on your contributions during your working years. OAS is a monthly payment available to seniors aged 65 and older, regardless of work history.
June 2024 Payment Dates
The payment dates for CPP and OAS in June 2024 are important for all recipients. Here are the dates you need to know:
- CPP Payment Date: June 26, 2024
- OAS Payment Date: June 26, 2024
Eligibility for CPP and OAS
To receive CPP, you must have made contributions during your working life. The more you contribute, the higher your benefits. For OAS, you must be 65 years or older and have lived in Canada for at least 10 years since the age of 18.
Payment Schedule for 2024
Knowing the payment schedule helps you plan your finances better. Here are the expected payment dates for CPP and OAS in 2024:
| Month | CPP Payment Date | OAS Payment Date |
|---|---|---|
| January | 29 January | 29 January |
| February | 27 February | 27 February |
| March | 26 March | 26 March |
| April | 26 April | 26 April |
| May | 29 May | 29 May |
| June | 26 June | 26 June |
| July | 29 July | 29 July |
| August | 28 August | 28 August |
| September | 25 September | 25 September |
| October | 29 October | 29 October |
| November | 27 November | 27 November |
| December | 20 December | 20 December |
How to Check Your Payment Status
You can check the status of your CPP and OAS payments through the My CRA Account. This is an online portal where you can find all the details about your payments and benefits. If you are new to this, you will need to register first.
What to Do If You Don’t Receive Your Payment
If you do not receive your payment on the scheduled date, you should contact the Canadian Revenue Agency (CRA) as soon as possible. They will help you resolve any issues.
Increase in CPP for 2024
There is news about an increase in CPP benefits for 2024. The increase is expected to be around 4.8%, which will help retirees manage their living expenses better. This is important as the cost of living continues to rise.
Benefits of CPP and OAS
CPP and OAS provide financial support to retired individuals, ensuring they have a steady income. This helps in avoiding debt and ensures a comfortable retirement.
FAQs
1. How can I apply for CPP and OAS?
You can apply for CPP and OAS online through the My CRA Account or by filling out a paper application and mailing it to Service Canada.
2. What if my CPP and OAS payment dates fall on a weekend or holiday?
If your payment date falls on a weekend or holiday, the payment will usually be made on the last business day before the weekend or holiday.
3. Can I receive CPP and OAS if I live outside Canada?
Yes, you can receive CPP and OAS payments if you live outside Canada. However, there are certain conditions you must meet. Check with Service Canada for detailed information.
Conclusion
Knowing the exact dates for CPP and OAS payments helps in better financial planning. Make sure to check your My CRA Account regularly for updates and ensure you meet all eligibility criteria to receive your benefits without any issues.