Great news for Canadians! This month, the federal government is set to release three new payments aimed at helping seniors and low-income individuals cope with the rising cost of living.
Here’s a detailed look at the upcoming deposits of $2800, $1850, and $960, including eligibility criteria and expected payment dates.
New $2800, $1850 & $960 Payments May Come This Month
Canadians might see a welcome financial boost this month through three potential government deposits. These payments range from $2800 to $960, based on specific programs and individual circumstances.
The three new payments include the Canada Emergency Response Benefit (CERB), Canada Housing Benefit (CHB), and Old Age Security (OAS).
Canada Emergency Response Benefit (CERB)
The CERB program was initially introduced to provide financial aid to employed and self-employed Canadians who faced income losses due to the COVID-19 pandemic. Although the program has ended, there are discussions about a one-time payment of $2800 for eligible recipients.
However, the exact deposit dates remain uncertain, as the government has yet to confirm this payment officially.
Canada Housing Benefit (CHB)
The CHB program assists low-income renters with their housing costs. This month, the benefits are expected to increase, potentially providing an annual amount of $1850.
This increase aims to alleviate the financial burden of rent for low-income households. The Canada Revenue Agency will announce the specific deposit date, likely by the end of the month.
Old Age Security (OAS)
The OAS pension offers monthly payments to Canadian seniors aged 65 and over. The benefit amount is adjusted annually to account for inflation.
This month, eligible beneficiaries can expect an increase, bringing the annual amount to approximately $960. This adjustment will likely be reflected in the August 1st, 2024 payment.
$2800, $1850, and $960 Deposit News
These three new payments will provide much-needed financial support to eligible Canadians. Here’s a breakdown of the potential deposits:
- $2800 CERB Top-Up: This payment is the most uncertain, with no confirmed deposit dates. It was initially created to support those affected by job losses or income reductions due to COVID-19.
- $1850 CHB Increase: Expected to see an increase this month, aiding low-income renters. The specific deposit date will be announced soon, with funds likely disbursed by the end of the month.
- $960 OAS Adjustment: This annual increase adjusts for inflation and will be reflected in the monthly payments starting August 1st, 2024.
3 New Payments Dates
CERB Top-Up Payment
Currently, there is no official announcement regarding a top-up payment for CERB. Keep an eye on updates from the Canada Services web portal for the latest information.
Canada Housing Benefit (CHB)
The CHB increase is anticipated to start from this month. Recipients already receiving CHB payments will see the increased amount deposited directly into their bank accounts by the end of the month.
Old Age Security (OAS)
OAS payments are typically issued on the first day of each month. The increased amount will be reflected in the August 1st, 2024 payment, providing additional financial support to seniors.
All We Know
The three new payments expected this month are aimed at providing financial relief to eligible Canadians. Here’s a quick summary of the eligibility criteria:
- CERB: Eligibility for the potential $2800 top-up includes those who were previously approved and received CERB payments during specified periods.
- CHB: Low-income renters who pay rent for their primary residence and have a household income below the federal threshold are eligible for the $1850 benefit.
- OAS: Canadian citizens or permanent residents aged 65 or older, who have lived in Canada for at least 10 years after turning 18, are eligible for the $960 annual increase.
These payments are part of the government’s ongoing efforts to support Canadians in managing the rising cost of living and ensuring financial stability.
FAQs
When will the $2800 CERB top-up be paid?
There is no official announcement yet; stay updated on the Canada Services web portal.
How much will the CHB increase this month?
The CHB is expected to increase to an annual amount of $1850.
When will the OAS payment increase be reflected?
The increased OAS payment will be reflected starting August 1st, 2024.
Who is eligible for the $1850 CHB?
Low-income renters who meet the federal income threshold.
How can I check my eligibility for these payments?
Visit the official government websites for detailed eligibility criteria and updates.
