Justin Trudeau Plans for CPP and OAS Pension Increase in July – Pension Boost Canada 2024

Pension Boost Canada 2024: The government of Canada has made a big decision on Pension Boost Canada 2024. The officials are increasing the amount of the CPP and OAS benefits for the beneficiaries who have made contributions. According to the latest reports, the Canada Revenue Agency along with the government of Canada will issue the $1660 Extra CPP Payment 2024 on 29th July 2024.

The Prime Minister of Canada, i.e. Justin Trudeau, Plans for CPP and OAS Pension Increase in July. The increment will be made in the monthly payment of OAS of $1400. This a good news for the senior citizens of Canada who are getting the benefit amount according to their contributions, The inflation is increasing at a rapid rate in the country. So, the government wanted to ensure that the basic needs of senior citizens were being fulfilled with the high cost of living.

Pension Boost Canada 2024

Please note that only 10% have been implemented in the existing payment of OAS. However, it will help the eligible senior citizens during the inflation with the extra amount of $1400. The extra amount offered is only temporary. Once the inflation rate is settled down, the Pension Boost Canada Amount will go back to the normal rate.

For many years, the amount of CPP, as well as OAS, was the same but the government had to change the amount to cope with the temporary inflation revolving in the country. The officials have released the whole schedule online of all the offered benefits by the government of Canada. According to the same schedule, the officials will release the CRA Pension Boost Payment on 29th July 2024.

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How to claim the Pension Boost Canada 2024?

In the following section, candidates will come across the process which can be used to claim the pension boost amount. Go through the step-by-step guide mentioned below and understand the Canada benefit-claiming process:

• First of all, go to the official website of the Government of Canada using this link: https://www.canada.ca/
• Secondly, the website’s home page will open on the screen.
• After that, you must click the benefits option and a new page will open on the device.
• Now, you must find and click the login link and a new page will open on the screen.
• After that, click the type of the account and the login page will appear,
• Carefully provide your login details and open the dashboard on the screen.
• Later on, get access to the relevant benefits of Pension Boost Canada.
• Provide the necessary details and documents to the application form.
• Go through the whole form once again and submit the same to complete the claiming process.

CPP and OAS Payment Schedule

The authority has provided the whole schedule of the Canada Pension Plan and Old Age Security on the official portal of the Government of Canada. One must go through the whole table to know the dates on which the payment will be provided to beneficiaries. Please note that the payment dates of CPP and OAS payments are the same. Therefore only a single payment table is prepared. Below is the table showing month-wise payment dates:

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Frequently Asked Questions

When will the beneficiaries receive the Pension Boost Canada?
Beneficiaries will receive the Pension Boost Canada from the government in July 2024. According to the schedule provided officially, the benefit will be released on 29th July 2024.

Which benefits have been increased by Justin Trudeau?
Justin Trudeau has increased the benefit amount of the Canada Pension Plan and Old Age Security.