Retiring at age 65 used to feel like a guaranteed milestone—finish work, relax, enjoy life. But things are changing fast. With people living longer, healthier lives and work styles becoming more flexible, Canada’s idea of retirement is being rewritten. Now, when and how you collect OAS and CPP benefits can…
The $1,551 Seniors’ Benefit is an annual, tax-free payment offered to eligible seniors in Newfoundland & Labrador (NL). Even though it’s a provincial program, it is delivered by the Canada Revenue Agency (CRA) together with your GST/HST credit payments. Because of that pairing, no separate application is required. Who Qualifies…
For decades, Canadians viewed age 65 as the traditional mark of retirement. It was the time to stop working, collect Canada Pension Plan (CPP) and Old Age Security (OAS) benefits, and enjoy a slower pace of life. But that idea is rapidly changing. With Canadians living longer, staying healthier, and…
Despite some headlines claiming a $2,800 OAS boost, there is no such guaranteed lump-sum increase. Old Age Security (OAS) is indexed quarterly to inflation (CPI), so benefits rise gradually over the year. What seniors will see instead are modest, inflation-based quarterly hikes — not a sudden $2,800 jump. For the…
Canadian seniors rely on the Old Age Security (OAS) pension for steady, predictable income. In 2025, payments continue to be indexed every quarter to help keep pace with inflation, while those aged 75+ benefit from the permanent 10% increase to their base OAS. Many seniors will see amounts around $808/month…
