CRA issues one time payments to the citizens so that they can grapple with the inflation and high living expenses. Such Payments can be for OAS, CPP, CDB, CCB and many more. In 2024 there is news for this $1300 CPP + $1600 OAS Payment By CRA. This payment will be made to beneficiaries of OAS and CPP. According to the sources this assistance of $1300 and $1600 will be provided for the financial support at the time of economic crisis in the country. In this post we will see the overview of OAS and CPP Payments with its Eligibility and Payment Dates. We will check the mode of payments, regular amounts and how we can apply for this cash assistance.
$1300 CPP + $1600 OAS Payment By CRA
The Old Age Security Pension is provided monthly to the aged citizens who can’t work because of their age. Canada Pension Plan is a scheme where the citizens contribute to the CPP Plans and at retirement they get that contributed amount monthly in the form of CPP. $1300 CPP + $1600 OAS Payment By CRA is not just the amount, it will become the support and assistance for seniors at their last stages of life. We will check the facts and reality for this extra assistance, also we will get to know eligibility, regular amounts and payment dates in this post.
$1300 CPP + $1600 OAS Payment By CRA- Overview
| Title | $1300 CPP + $1600 OAS Payment By CRA |
| Year | 2024 |
| Country | Canada |
| Name of the Agency | Canada Revenue Agency |
| Name of the Payment | Old Age Security & Canada Pension Plan |
| Objective | Financial Aid |
| $1300 CPP + $1600 OAS Payment Eligibility 2024 | Old, Aged or Senior Citizens |
| Mode of Payment | Direct Deposit or Cheque |
| CPP & OAS Payment Amount 2024 | OAS 718.33 or 790.16 CPP 1364.60 |
| Total Benefit Amount | $2900 |
| $1300 CPP + $1600 OAS Payment Date 2024 | Check Post |
| Category | Finance |
| Official Web Portal | www.canada.ca |
$1300 CPP + $1600 OAS Payment Eligibility 2024
As of right now, CRA has neither confirmed nor approved this $1300 CPP + $1600 OAS Payment. The standard requirements for OAS and CPP will determine the $1300 CPP + $1600 OAS Payment Eligibility 2024. We will examine eligibility based on residency, income, age, number of contributions to CPP and number of years the applicant lived in Canada. The additional payment for assistance will be provided once, although the OAS and CPP Payments are made on a regular basis. The following citizens will be eligible for this one-time $1300 CPP + $1600 OAS payment extra assistance:
- The age to qualify this $1600 OAS payment is 65 years.
- The age to qualify this $1300 CPP payment is 60 years.
- Citizenship or legal residency in Canada is a requirement to get the $1300 CPP + $1600 OAS Payment.
- The resident needs to spend ten years residing in Canada.
- One Contribution to CPP is required to get $1300 CPP Payment.
- The OAS can be obtained if the resident works for a Canadian employer abroad, but only under certain conditions. The Canadian employee must return to Canada within six months, and proof of employment and proof of return are needed.
- The chart below shows the income restrictions for this $1600 OAS. This yearly income cap is determined by the resident’s age. Verify your yearly income thresholds to ensure your qualification:
| Age of the Canadian Citizen | Annual Income Limit |
| 65 Years – 74 Years | $142,609 |
| 75 Years and Over | $148,179 |
$1300 CPP + $1600 OAS Payment Date 2024
That $1300 CPP & $1600 OAS Payment hasn’t been verified or approved, though. There has been no verified or formal declaration or notice of this news. However, we can presume that $1300 CPP & $1600 OAS Payment will be made on the same day as the usual OAS & CPP Payments are made. The Old Age Security Pension and CPP regular distribution schedule for 2024 will be revealed here:
| Month | $1300 CPP + $1600 OAS Payment Date 2024 |
| January | 29th |
| February | 27th |
| March | 26th |
| April | 26th |
| May | 29th |
| June | 26th |
| July | 29th |
| August | 28th |
| September | 25th |
| October | 29th |
| November | 27th |
| December | 20th |
CPP & OAS Payment Amount 2024
In contrast to the one-time additional assistance, the OAS pension’s recurring monthly payment is rather small. The resident’s age and income determines the monthly amounts for the payment. As we can see here, the CPP & OAS Payment Amount 2024 both one-time and regular.
| Age of the Canadian Citizen | Annual Income Limit | Regular OAS Payment Amount 2024 | One Time OAS Payment Amount 2024 |
| 65 Years – 74 Years | $142,609 | $718.33 | $1600 |
| 75 Years and Over | $148,179 | $790.16 | $1600 |
| Regular CPP Payment Amount 2024 | One Time CPP Payment Amount 2024 |
| $1364.60 | $1300 |
FAQ Related To $1300 CPP + $1600 OAS Payment By CRA
No, Yet Update on this news is not provided by CRA.
Usually Cheques and Direct Deposits are main gateways for the Payment Distribution by CRA.
Go to the CRA web page, search for Benefit Payout Dates, the Dates for the payment will be shown.
John Wick is a Media and Finance editor, passionate about writing and editing content related to finance and taxes. He has achieved dual degree in Mass Media and Finance From one of the top universities in the World. He is keen to learn new things and changes which take place in the world of Finance and stocks.