Canada Retirement Benefits
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Canada pension and retirement benefits 2025: up to $2,461 in federal and provincial payments through December
The Economic Timesยท 2025-09-14 04:44
Group 1 - The OAS pension provides monthly payments for recipients aged 65 to 74 with annual incomes below $148,451, allowing up to $707.67, while those aged 75 and older with incomes below $154,196 may receive up to $880.44 [1][18] - The OAS pension undergoes quarterly reviews in January, April, July, and October to adjust for cost-of-living increases based on the Consumer Price Index, with benefits not decreasing if the cost of living declines [2][18] - The Canada Workers Benefit (ACWB) serves as a refundable tax credit for low-income working individuals and families, with maximum basic benefits of $1,428 for singles and $2,461 for families, and specific income thresholds for eligibility [13][14][18] Group 2 - The Ontario Child Benefit provides up to $1,607 annually per child based on family net income and the number of children under 18 [7][18] - The Ontario Trillium Benefit combines various credits into monthly distributions to assist low-income residents [8][18] - The veteran disability pension offers tax-free monthly payments to veterans and service members with service-related injuries or illnesses, with specific eligibility criteria [9][12][18] Group 3 - Part-time students aged 18 to 24 with deceased or disabled parents who contributed to the Canada Pension Plan will receive monthly payments of $150.89 starting in 2025, while full-time students will receive $301.77 [15][18] - Low-income seniors aged 65 and older or individuals with disabilities can apply for annual property tax rebates if they meet specific criteria, including receiving GIS or ODSP benefits [16][17][18]