CPP and OAS Payment Dates 2021 – Canada Pension Plan payments and Old Age Security

A person on a calculator to denote someone calculating their budgeting based on CERB ends and being replaced by new EI, CRB, CRSB and CRCB programs.

Hello everyone! We’re here to tell you all of the dates for 2021 that you’ll be receiving both your Canada Pension plan payments and Old Age security payments. (CPP and OAS.) This information can be very helpful in helping you to plan ahead, and to budget. So, with that in mind we will provide you with every date in 2021 that you’ll be receiving these payments. You can bookmark this page to come back and check each month OR, simply mark all of the dates on your calendar at home.

According to the Government of Canada website, your CPP payment includes the retirement pension and disability, children’s and survivor benefits. The Old Age Security payments include OAS itself, Guaranteed Income Supplement (GIS), allowance and allowance for survivor.

Payments of both Old Age Security and Canada Pension Plan are made on the same dates each month.

By setting up direct deposit, these payments will be deposited right into your selected bank account on the dates indicated below. Otherwise, you will receive cheques in the mail.

CPP and OAS Payment Date for January 2021

This month’s payment date is January 27, 2021.

CPP and OAS Payment Date for February 2021

For February, the payment date is February 24, 2021.

CPP and OAS Payment Date for March 2021

March 29, 2021 is the payment date for March.

CPP and OAS Payment Date for April 2021

This payment date will be April 28, 2021.

CPP and OAS Payment Date for May 2021

May 27, 2021 is the date of payment.

CPP and OAS Payment Date for June 2021

This month you’ll be paid on June 28, 2021.

CPP and OAS Payment Date for July 2021

July 28, 2021 is the date for this month of 2021.

CPP and OAS Payment Date for August 2021

This time, it’s August 27, 2021 that your payments will arrive on.

CPP and OAS Payment Date for September 2021

September 28, 2021 is when your payment will arrive in either your mailbox, or directly into your bank account.

CPP and OAS Payment Date for October 2021

October 27, 2021 is the date of payment this time around.

CPP and OAS Payment Date for November 2021

This time you’ll get paid on November 26, 2021.

CPP and OAS Payment Date for December 2021

And for the last month of the year, you’ll receive your OAS and/or CPP payment on December 22, 2021.

We hope this information will prove helpful to you throughout the year! It truly helps to be able to plan ahead, and know when your payments will arrive to you.

CERS and CEWS Extended to June 2021

Picture of Canadian money to denote businesses receiving help due to CERS and CEWS being extended to June 2021.

On March 3, 2021, the government announced that the CERS and CEWS would be extended to June 5, 2021. They said both programs will be maintained at current levels. This is good news for businesses who are still struggling. Here’s what that means below.

CERS and CEWS Extended June 2021 Details

The Canada Emergency Rent Subsidy (CERS) will be extended to June 5, 2021. It will still cover up to 65% of eligible employers’ rent. Also, the additional 25% lockdown subsidy top-up for hard hit businesses restricted by more severe public health guidelines will be extended to June 5, 2021.

The Canada Emergency Wage Subsidy (CEWS) will also be extended to June 5, 2021. It will still cover up to 75% of employees’ wages for eligible employers.

The government also announced an extension for Furloughed workers to June 5, 2021. Here’s a quote from the government’s website regarding this:

“the government intends to continue to align the wage subsidy rate structure with the benefits provided through the Employment Insurance program from March 14 to June 5, 2021. This means employers who qualify for the wage subsidy would be able to continue to claim up to a maximum benefit of $595 per week per employee to support remuneration of their furloughed workers.”

Conclusion

The Prime Minister said, “This isn’t the time to pull back on support for workers or business owners, it’s the time to see people through what is hopefully the final stretch of this crisis and it’s time to get the whole economy ready to come roaring back,”

Hopefully he is correct and we are in the final stretch of this pandemic. But as already seen so far, the coronavirus is unpredictable and highly resilient. So only time will tell if we are nearing the finish line. Until then, please stay safe.

How much will my OAS payment be? Old Age Security payment questions

A person on a calculator to denote someone calculating their budgeting based on CERB ends and being replaced by new EI, CRB, CRSB and CRCB programs.

Hi everyone! Hope it’s nice and sunny wherever you’re joining us from. I wanted to post a quick and helpful link about Old Age Security payment amounts. On our post Old Age Security and CPP Payments for 2021, Don left a comment and asked a very important question. He asked what the amount would be for his OAS (Old Age Security) payment come January 2021.

So, I went and did a little research and provided this link for him in replying to his comment. But then I decided that actually a lot of our visitors might find this information helpful! Here is a link to the Government of Canada website that discusses how to calculate what your OAS payment amount will be starting in January 2021. https://bargainblog.ca/cpp-and-oas-payment-dates-2021-canada-pension-plan-payments-and-old-age-security/

Maximum Old Age Security Payment (OAS) in Canada

You’ll find much more information on the government’s website, but basically the OAS maximum payment amount per month is $614.14. There are also other benefits available, which you can find on the link I provided above. The Old Age Security benefits are reviewed four times a year – in January, April, July and October – to ensure that the payments are reflecting the increased costs of living.

We really hope this link and information helps you to plan and budget for next year. Please take care all, and stay safe.

Government of Canada’s Fall Economic Statement and Budget – Highlights

A picture of someone holding Canadian money to denote how the Government of Canada's fall economic statement will affects many Canadian's pocket books.

On Monday November 30, 2020, I got up and watched the Government of Canada’s fall economic statement. I wanted to see what further relief plans they had for Canadians who are struggling due to the ongoing COVID-19 pandemic. The finance minister, Chyrstia Freeland, mentioned a myriad of things they were planning to do with some ideas being more concrete than others. Here are some of the highlights below.

Government of Canada’s Fall Economic Statement- Increasing the Canada Emergency Wage Subsidy (CEWS) Rate

To continue to help businesses, the government is increasing the maximum rate of the Canada Emergency Wage Subsidy to 75 per cent for the period beginning December 20, 2020 and extending this rate until March 13, 2021. This means the government will cover up to 75% of employees’ wages during this time period. Originally, this had decreased, but this amount has now been restored to cover up to 75% of wages again.

Extension of The Canada Emergency Rent Subsidy (CERS) Rate and Lockdown Support

The current maximum rate of the Canada Emergency Rent Subsidy is 65 percent and businesses severely affected by a lockdown good get could get up to additional 25 percent of eligible expenses. This rate was to last until December 19, 2020 but now has been extended until March 13, 2021.

Potential Support for Airlines, Tourism, Hotels, Arts – Highly Affected Sectors Credit

The Finance Minister also mentioned setting up low interest loans in these industries of up to a million dollars. Those industries, as noted in the heading, are airlines, tourism, hotels and the arts. The terms of these loans would be extended over a period of up to 10 years. This will be called the Highly Affected Sectors Credit Availability Program.

Government of Canada’s Fall Economic Statement – More Support for Families

To help families with young children through the pandemic, the government will provide temporary support of up to $1,200 in 2021 for each child under the age of six for families entitled to the Canada Child Benefit.

Conclusion

The Government of Canada’s Fall Economic statement contained a lot of details on programs and ideas to help Canadians navigate through this pandemic and beyond. The above were just some of the main highlights gleaned from it. If you want a more detailed listing, please visit the government’s website. The cost of these programs will be enormous but the government feels it is necessary for the situation we are in. Will it help? Only time will tell but for many who are suffering due to covid-19, any help at all is good help. Stay safe.

The New Canada Emergency Rent Subsidy (CERS) – Starts Today

A businesses space with a for rent sign to denote need for struggling businesses to apply for the new Canada Emergency Rent Subsidy program.

The New Canada Emergency Rent Subsidy (CERS) program begins to take applications today. Businesses that are struggling due to COVID-19 can now apply for this subsidy. To apply, you can go to the government of Canada’s website.

What is the New Canada Emergency Rent Subsidy (CERS)?

The new CERS program (Canada Emergency Rent subsidy) is a rent or mortgage subsidy for Canadian businessesnon profit organizations, or charities who have seen a drop in revenue due to the COVID-19 pandemic. The time period that the subsidy will cover is September 27, 2020 to June 2021.

The government’s website indicates that the subsidy will cover up to 65% of qualifying expenses. There is also an additional 25% of rent support for businesses, not profit organizations or charities that have been especially hard hit by mandatory public health orders. As a result, the hardest hit businesses can potentially receive a total rent subsidy of up to 90 %. These subsidy rates are in effect until December 19, 2020.

The new subsidy program payments will be made directly to qualifying renters or property owners without needing the participation of landlords. This is a change from the previous program where the landlords had to apply for the program and as a result the expected participation for the previous program was low.

Conclusion

The new Canada Emergency Rent Subsidy will be a welcome sight for many Canadian businesses. With the second wave of COVID-19 spiking all over the country, more restrictions and potential lockdowns seem inevitable. As a result, many struggling businesses are going to continue to struggle to keep afloat. Hopefully, this new program can help take some of the sting of the financial losses that will come with those further lockdowns. Unlike the last wage subsidy program, the government’s hope is that many more businesses will apply. Will this help? As the old saying goes, any help is good help but only time will tell. Please stay safe.

When Will Canada Child Benefits (CCB) be Paid in 2020? CCB Payment Dates

Picture of children by the lake to denote when will Canada Child Benefits (CCB) will be paid in 2020.

When will Canada Child Benefits be paid out for the rest of 2020? It is an important question for people with children because for many expenses are up. There are a few reasons for this such as children returning to school and uncertainty of job stability due to COVID-19 cases rising everywhere. Also, for many there is the holiday season and the costs associated with that. So it is important for families to know when they will see their CCB benefits so they can plan accordingly.

When Will Canada Child Benefits (CCB) be Paid in 2020?

Here are the dates each month that CCB payments will be made to families from the Government of Canada’s website below for the rest of 2020:

-September 18, 2020

-October 20, 2020

-November 20, 2020

-December 11, 2020

As noted from above, December’s payment will come a bit earlier. And a couple of additional notes from the government’s website. First, you will not receive a monthly payment if your total benefit amount for the year is less than $240. Instead you will receive one lump sum payment with your July payment. Second, if you don’t receive your CCB payment on the expected payment date, please wait 5 working days before you contact us.

Conclusion

It is more important than ever in these unstable times to know what you have for money coming in for your family. Knowing when CCB payments will be issued can help you to plan better. Also, it helps you to know when to contact the Government of Canada if there has been any delay. As the old saying goes, knowledge is power. However, in these unstable times it is probably better to say that knowledge is survival. So take care of yourselves and stay safe.

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CPP and OAS Payment Dates 2020 – Canada Pension Plan payments and Old Age Security

calculator denoting trying to budget during covid-19

There aren’t a whole lot of months left in 2020, but I thought knowing the CPP payment dates for the rest of the year would likely be helpful to some of you readers. So, here’s what we found regarding when you’ll be getting your CPP payments for the rest of 2020. Old Age Security payments come out on the same dates, so these will also be included in this list. Hope it’s helpful! Mark these dates on your calendar:

CPP and OAS Payment Date for October 2020

  • Your October CPP payment this year will be coming on October 28, 2020 – so just a couple of days from when we’re writing this post! (This is also the same date the OAS payment will be coming out, too.)

CPP and OAS Payment Date for November 2020

  • Your November 2020 CPP and/or OAS payment will be coming on: November 26, 2020.

CPP and OAS Payment Date for December 2020

  • For the last month of 2020, your Old Age Security and/or CPP payment will be arriving to you on: December 22, 2020.

Knowing when your payments will arrive will help you plan ahead! We’ve also written about financial supports available in Canada during the pandemic crisis, including CERB, and now the CRB and other payments for those who are self-employed OR who have to stay home to care for sick loved ones. Please read these articles for more information:

New Canada Emergency Rent Subsidy – What is it? (CERS details)

A for rent sign to denote the new Canada Emergency Rent Subsidy program for businesses and organizations.

A few days ago the federal government announced the new Canada Emergency Rent Subsidy to help businesses cover their rent due to the continued financial crisis caused by the COVID-19 pandemic. This was good news to the many businesses struggling to stay afloat. What is this new program?

New Canada Emergency Rent Subsidy (CERS) Replaces CERCA Program

The New Canada Emergency Program (CERS) will replace the old Canada Emergency Commercial Rent Assistance Program (CECRA) which ended on September 26, 2020. The biggest change between the two programs was that under the old CECRA program the commercial landlords had to apply for the program for businesses that needed rent relief. And they were under no obligation to apply, often leaving tenants in a very difficult situation.

However, under the New Canada Emergency Rent Subsidy Program, the government will now directly help the businesses and organizations who need relief. This means that businesses can apply to the program themselves and no longer need their landlords to apply. So what are the details of the program?

Details of Canada Emergency Rent Subsidy Program (CERS)

The program so far is thin on details and even on the government’s website it says that more information will be coming soon. But from the government’s news release on October 9, 2020 and other reports, here’s what has been shared so far.  The new rent subsidy will support businesses, charities and non-profits that have suffered revenue drops by subsidizing a percentage of their expenses on a sliding scale, up to a maximum of 65 per cent of eligible expenses. This will last until December 19, 2020.

In addition to the rent subsidy, there will be a top-up of 25 percent available for organizations that have been temporarily shut down by a mandatory public health order.

When Will it Start? Conclusion – CERS for Business owners

There was no indication of when businesses and organizations can apply for this new program. However, when it does finally start, applicants can apply for their subsidy to start retroactively as of September 27, 2020. Once the government announces when people can apply, we will provide an update.

The new wage subsidy program is a potential relief for businesses and organizations that are struggling to survive during these unprecedented times. Hopefully, more details will become available shortly as the situation is dire for many businesses. And with COVID-19 cases on the rise again, the financial future seems more uncertain than ever. Stay safe.

When Will New COVID-19 Recovery Benefits Start? (CRB, CRSB, CRCB)

Photo to highlight when will new covid-19 benefits start.

When will new COVID-19 recovery benefits start? The government announced this week that Canadians can start applying for two of the new recovery benefits as of October 5, 2020. The two new recovery benefits are the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB). The third new recovery benefit, the Canada Recovery benefit will start as of October 12, 2020. These three benefits and the new EI benefits replace the Canada Emergency Response Benefits that Canadians were receiving due to the COVID-19 pandemic.

When Will New COVID-19 Recovery Benefits Start? A Quick Summary of New Benefits

Here’s a quick summary of the three new benefits from the government of Canada’s website below:

Canada Recovery Sickness Benefit (CRSB)

The Canada Recovery Sickness Benefit (CRSB) will provide $500 per week (taxable, tax deducted at source) for up to a maximum of two weeks, for workers who are unable to work for at least 50% of the week because they contracted COVID-19, self-isolated for reasons related to COVID-19, or have underlying conditions, are undergoing treatments or have contracted other sicknesses that, in the opinion of a medical practitioner, nurse practitioner, person in authority, government or public health authority, would make them more susceptible to COVID-19. This benefit will be paid in one-week periods.

Canada Recovery Caregiving Benefit (CRCB)

The Canada Recovery Caregiving Benefit (CRCB) will provide $500 per week (taxable, tax deducted at source) for up to 26 weeks per household for workers unable to work for at least 50% of the week because they must care for a child under the age of 12 or family member because schools, day-cares or care facilities are closed due to COVID-19, or because the child or family member is sick and/or required to quarantine or is at high risk of serious health implications because of COVID-19. This benefit will be paid in one-week periods.

Canada Recovery Benefit (CRB)

The Canada Recovery Benefit will provide eligible workers with $500 per week (taxable, tax deducted at source) for up to 26 weeks for those who have stopped working and who are not eligible for EI, or had their employment/self-employment income reduced by at least 50% due to COVID-19. This benefit will be paid in two-week periods.

Conclusion

When will the new COVID-19 recovery benefits start? Both the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB) start as of October 5, 2020. The Canada Recovery Benefit (CRB) will start as of October 12, 2020. Hopefully these new benefits will provide further help to Canadians who are struggling due to the pandemic. Only time will tell. Stay safe everyone.

CERB Replaced by New EI, CRB, CRSB, and CRCB programs – latest details (Canada Covid Relief)

A person on a calculator to denote someone calculating their budgeting based on CERB ends and being replaced by new EI, CRB, CRSB and CRCB programs.

CERB will be replaced by a new EI program and three transitional programs CRB, CRSB, and CRCB. I wrote a previous article regarding these programs, which I’ve linked to at the bottom of the page. However, there are some slight changes to the programs since the government’s throne speech on September 23, 2020. Let’s highlight some of these details below.

CERB Replaced by New Employment Insurance Program

If you were on the Canada Emergency Response Program (CERB) when it ended September 26, 2020, you will either be transitioned to or have to apply for EI benefits if you qualify for it. For example, if you applied for CERB through Service Canada, you will automatically be set up for EI benefits if you qualify. If you applied for CERB through CRA (Canada Revenue Agency), then you will have to apply for EI benefits after September 26, 2020.

The main criteria for EI is that someone has worked at least 120 insurable hours of employment in last 52 weeks. This criteria is for both regular EI benefits and Special benefits. The rate one will receive has been increased to at least $500 per week and $300 per week for extended parental benefits for at least 26 weeks. But what options does someone have if they do not qualify for EI benefits?

CERB Replaced by New Transitional Benefits – CRB, CRSB, CRCB

Last Thursday the government tabled these three new recovery benefits in Parliament which will be debated today for ones who do not qualify for EI. These benefits are temporary as you can only apply for them up to September 25, 2021. Here’s a brief description of each below.

Canada Recovery Benefit (CRB) – The program is designed for those who are self employed and are not eligible for EI and still need support. The rate is $500 per week for 26 weeks. It is provided to workers who have not returned to work due to COVID-19 or seen their income drop by at least 50 percent. Those who apply for this program must be looking for work and accept work when it is reasonable to do so.

Canada Recovery Sickness Benefit (CRSB) – The program provides $500 per week for up to two weeks for workers who are sick or who must self-isolate due to COVID-19. The government has indicated that the goal of this program is to provide paid sick leave to all Canadians. Details such as eligibility requirements have not been given as of yet.

Canada Recovery Caregiver Benefit (CRCB) – The program provides $500 per week for up to 26 weeks for those who are unable to work because they need to care for a child under the age of 12 or family member because schools and daycares are closed. The benefit is also available for those caring for a child or family member who is sick and/or required to quarantine.

CERB Replaced by New Benefits, When Do They Start? Conclusion

Regarding the new EI program, it starts this week as some people are already transitioned into it while others can apply right now for EI benefits. However, regarding the three new temporary recovery programs, as mentioned above – the bill (C-2) for these programs will be debated today (September 28, 2020) in Parliament. Once the debates have ended, there will be a vote and if it passes, then it will be implemented. How fast it can happen is anyone’s guess but could happen fairly rapidly. So it would be good to check for updates daily. Also, because it is being debated there could possibly be some more adjustments, so look out for that also. Hopefully, things will move fast and these programs can be accessed because many still need help during these unstable times. Stay safe everyone.

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