As the month of July is in its first week, the citizens are awaiting the next Canada Pension Plan (CPP) and Old Age Security (OAS) payments. The previous payment for both CPP and OAS was out on 26th June 2024 and millions of citizens claimed the pension amount. The Canada Revenue Agency (CRA) will soon provide the payment to the eligible citizens of the country as the annual payment schedule is out for the monthly benefits. The retired seniors and disabled citizens will be able to claim the payment after qualifying the eligibility criteria. On continuing to this post, you will be able to get all the details about CPP and OAS payments dates for the month of July 2024. Read the full post to learn more about the CPP and OAS pension along with the maximum payment amount you can claim and its eligibility criteria.
CPP OAS Payment Dates July 2024
For the financial welfare of its citizens in their retirement age and unemployment phase due to a disability, the CRA manages a number of monetary support programs which aim to provide monthly benefits to the citizens who are qualified as per the CRA guidelines. Two of the major programs are CPP and OAS which are considered as a major source of income for millions of retired, old aged and disabled citizens in the country. To be able to claim the CPP payment, you must be at least 60 years old whereas if you are receiving the OAS pension, your age must be at least 65 years or above. The payment amount will depend on your age of retirement and for how long and how much you have contributed to the CRA benefits.
The CRA asks its citizens to contribute to the CPP while working in their employment age. Meanwhile, if you are claiming the OAS benefits, then the CRA will not check your employment criteria to determine the pension you are entitled to claim. It means you can receive the OAS payments even though you have never worked or are still working. In addition to it, if you are receiving OAS payments, then you and your spouse or common law partner are eligible to receive other benefits such as Guaranteed Income Supplement (GIS), Allowance and Allowance for Survivors. You can apply for the payments after qualifying the eligibility criteria. The payment amount is directly deposited to the respective bank accounts of the recipients on the scheduled payment dates.
CPP OAS Payment Dates July Quick Details
| Post title | CPP OAS Payment Dates July 2024 |
| Country | Canada |
| Department | Canada Revenue Agency |
| Category | Government aid |
| Applicable for | Adults and senior citizens |
| Month | July |
| Year | 2024 |
| Official website | canada.ca |
How Much You Can Claim Under CPP and OAS Payments?
The OAS payments are reviewed on a quarterly basis to keep up with the inflation and rising cost of living in the months of January, April, July and October and the amount you are entitled to claim will depend on your age. On the other side, the CPP payment amount is based on three factors which are (i) your retirement age (ii) how much and how long you have contributed to CPP in your employment years (iii) your earnings throughout your working period. If you choose to work in your post-retirement age, the CRA will provide you additional benefits till you turn 70 years old. However, the contribution limit must not exceed the limit or in other case, your pension amount may reduce. As of 2024, the maximum CPP payment you can claim is $1,364.60 and the average monthly payment as of April 2024 is $816.52 at age 65. I have also provided the monthly OAS payments in the following table:
| Age | Payment amount | Net income limit |
| 65 to 74 | $718.33 | Less than $142,609 |
| 75 and above | $790.16 | Less than $148,179 |
CPP and OAS Payment Dates for July 2024
The CRA distributes the payment amount for CPP and OAS payments in the last week of the month. The CPP benefits include, retirement pension and disability, children’s and survivor pension. Meanwhile, the OAS benefits include, Old Age Security pension, Guaranteed Income Supplement, Allowance and Allowance for Survivors. I have provided the complete annual schedule for the OAS and CPP payments for July and the following month of 2024 in the table mentioned below:
| Months | CPP Payment Dates | OAS Payment Dates |
| July | July 29, 2024 | July 29, 2024 |
| August | August 28, 2024 | August 28, 2024 |
| September | September 25, 2024 | September 25, 2024 |
| October | October 29, 2024 | October 29, 2024 |
| November | November 27, 2024 | November 27, 2024 |
| December | December 20, 2024 | December 20, 2024 |
Who is Eligible for the CPP and OAS Payments?
The CRA has set certain guidelines in order to avoid partiality while providing the CPP and OAS payments. Thus, you must be aware of the eligibility requirements before applying for the CRA benefits. I have provided the eligibility criteria in the points listed below:
For Canada Pension Plan:
- A person must be a Canadian citizen and permanent resident of the country.
- As per the age criteria, a person must be at least 60 years or above.
- A person must have made at least one CPP contribution in their employment age.
- Citizens living in Quebec can check their eligibility criteria by visiting official website of QPP.
- You can claim additional pension while working in your post-retirement age.
For Old Age Security
- A person must be Canadian citizen and legal resident at the time CRA approves their OAS payment.
- As per the age criteria, a person must be at least 65 years old or older.
- A person must have resident in Canada for at least 10 years after turning 18 years old.
- If a person living outside Canada, he/she must have resided in Canda for at least 20 years after turning 18 years old.
NOTE: As per the ongoing wildfire, there can be a delay in the payments to arrive. For more information, you can also visit the official website of the Canada Revenue Agency.
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