Canadian seniors and low-income citizens might be in for some financial relief this month with the possibility of three significant payments: $2800, $1850, and $960.
These payments aim to help with the rising cost of living, particularly for seniors and those facing economic hardships. Here’s what you need to know about these potential payments, including eligibility criteria, payment dates, and more.
Potential $2800, $1850 & $960 New Payments For Canadians
The Canadian government has introduced several programs to assist citizens during challenging economic times. This month, three possible payments could be disbursed:
- $2800 Payment: This is related to the Canada Emergency Response Benefit (CERB), which was initially provided to employed and self-employed Canadians impacted by the COVID-19 pandemic. Though the CERB program has officially ended, there is speculation about a one-time top-up payment for eligible recipients.
- $1850 Payment: This payment comes from the Canada Housing Benefit (CHB), which is designed to support low-income renters with their housing costs. This program is expected to see an increase in benefits this month, potentially boosting annual support to $1850.
- $960 Payment: This amount relates to the Old Age Security (OAS) pension, which provides monthly payments to Canadian seniors aged 65 and over. The OAS payment is adjusted annually to account for inflation, and this month’s increase could reflect an additional $960 annually.
Eligibility Criteria
CERB ($2800)
- Eligibility: Initially, CERB was available to employed and self-employed Canadians who experienced income loss due to the pandemic. The potential $2800 top-up would likely be available to those who previously qualified for CERB. However, no official criteria have been released for this new payment.
CHB ($1850)
- Eligibility: To qualify for the Canada Housing Benefit, you must:
- Be a low-income renter paying rent for your primary residence.
- Have a household income below the federal threshold set by the government.
- Already be receiving CHB payments, as the increase is expected to apply automatically to current recipients.
OAS ($960)
- Eligibility: The OAS pension is available to Canadian citizens or permanent residents who are:
- Aged 65 or older.
- Have resided in Canada for at least 10 years after turning 18.
- Meet the minimum income requirements to receive the full OAS amount.
Deposit News and Payment Dates
CERB Top-Up Payment ($2800)
- Deposit News: There is currently no official confirmation or announcement regarding the $2800 top-up payment for CERB recipients. As such, the deposit dates remain uncertain. Keep an eye on updates from the Canadian government for any new information.
Canada Housing Benefit ($1850)
- Deposit News: The CHB increase is expected to be reflected in payments starting this month. If you are already receiving CHB payments, the increase should be automatically deposited into your bank account. The Canada Revenue Agency (CRA) is expected to announce the specific deposit dates soon, likely towards the end of the month.
Old Age Security ($960)
- Deposit News: The OAS pension payments are typically issued on the first of each month. The increase reflecting the additional $960 annually should appear in your August 1st, 2024 payment.
Key Dates to Remember
- CERB Top-Up: No confirmed dates as of now. Check the Canada Services website regularly for updates.
- CHB Increase: Expected to start by the end of this month, with payments likely arriving by the beginning of next month.
- OAS Payment: The increase should be reflected in the payment scheduled for August 1st, 2024.
These potential payments could offer significant financial relief for eligible Canadians. While the $2800 CERB top-up remains uncertain, the $1850 CHB increase and the $960 OAS adjustment are more likely and could be a welcome boost for many households.
If you think you might be eligible for any of these payments, make sure your details are up to date with the relevant authorities and keep an eye on official announcements.
FAQs
Who is eligible for the $2800 CERB payment?
Eligibility likely includes those who previously received CERB, but no official criteria have been released yet.
When will the $1850 Canada Housing Benefit be paid?
The payment increase is expected by the end of this month, with deposits likely in early August.
How can I qualify for the $960 OAS increase?
You must be 65 or older, a Canadian resident, and meet the residency and income requirements.
What should I do to receive these payments?
Ensure your information is updated with the CRA and other relevant agencies, and monitor government announcements.
Is the $2800 CERB top-up confirmed?
No, the top-up is still speculative with no official confirmation or dates announced.
