In December 2024, Canadian residents can look forward to receiving key government benefits from the Canada Revenue Agency (CRA), including the Old Age Security (OAS), Canada Pension Plan (CPP), and Canada Workers Benefit (CWB). These benefits provide essential financial support to seniors, retirees, and low-income workers. This article outlines the payment dates for these benefits in December 2024, along with important information regarding eligibility and how to ensure you receive your benefits on time
Overview of Key CRA Benefits
Old Age Security (OAS)
The OAS is a monthly payment provided to seniors aged 65 and older, aimed at providing financial support during retirement. The amount you receive depends on the number of years you’ve lived in Canada after the age of 18.
Canada Pension Plan (CPP)
The CPP is a government-run program designed to provide income for retirees and individuals who are disabled or have lost a spouse. It’s based on your contributions to the plan during your working years.
Canada Workers Benefit (CWB)
The CWB is a refundable tax credit that helps low-income working individuals and families. It is designed to encourage employment and provide additional financial relief to those struggling with low wages.
CRA Payment Dates for December 2024
Old Age Security (OAS) Payment Date
OAS payments are made on a monthly basis, and December 2024 payments will be issued on December 29, 2024. These payments are typically made near the end of each month. If December 29 falls on a weekend, payments may be issued on the next business day.
Canada Pension Plan (CPP) Payment Date
The CPP payments for December 2024 will be issued on December 30, 2024. Like the OAS, CPP payments are typically processed around the end of the month.
Canada Workers Benefit (CWB) Payment Date
CWB payments are usually issued throughout the year, with a portion of the benefit paid with your tax refund or directly through periodic payments. The next major payment will be issued on December 15, 2024, as part of the regular CWB payment schedule for the year.
Eligibility Criteria
OAS Eligibility
To qualify for the OAS, you must be 65 or older and a Canadian citizen or legal resident. The amount you receive depends on how long you’ve lived in Canada after turning 18.
CPP Eligibility
To receive CPP benefits, you need to have contributed to the CPP during your working years. Benefits are available to individuals who are retired, disabled, or have lost a spouse. The amount you receive will depend on your contributions and the age at which you begin receiving benefits.
CWB Eligibility
To be eligible for the CWB, you must be a working individual or family with low income. The benefit amount depends on your income level, marital status, and number of children.
What to Do If You Haven’t Received Your Payments
If you do not receive your OAS, CPP, or CWB payment by the scheduled date, it’s important to:
- Check Your Account: Verify your bank account details or mailing address with the CRA to ensure there are no discrepancies.
- Confirm Your Eligibility: Ensure that you meet the eligibility requirements for the benefits you are expecting.
- Contact the CRA: If everything seems in order and your payment is still missing, contact the CRA to inquire about the status of your payment.
FAQs
1. When will I receive my OAS payment in December 2024?
The OAS payment for December 2024 will be issued on December 29, 2024.
2. What date will I receive my CPP payment in December 2024?
The CPP payment for December 2024 is scheduled for December 30, 2024.
3. When will I get my CWB payment in December 2024?
The next CWB payment will be issued on December 15, 2024.
4. How do I qualify for OAS?
To qualify for OAS, you must be at least 65 years old and have lived in Canada for at least 10 years after the age of 18.
5. What do I need to qualify for CPP?
You must have contributed to the Canada Pension Plan during your working years to be eligible for CPP benefits.