From the Canada Child Benefit, Old Age Security and the Quebec Pension Plan, to the Ontario Trillium Benefit and Canada Pension Plan, there are a handful of benefits and credits being paid out this upcoming March.
It's important to verify your eligibility for these federal benefits and credits, as you could be entitled to hundreds of dollars next month. In circumstances involving children, low-income families, or Canadians eligible for disability benefits, payment amounts could be in the thousands.
Here's everything you need to know about the upcoming government payments:
Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is administered by the Canada Revenue Agency (CRA). It is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18 years of age.
The CCB may include the child disability benefit and any related provincial and territorial programs. To apply for the CCB, you must meet all of the following conditions:
- You live with a child who is under 18 years of age and you are primarily responsible for the care and upbringing of the child.
- You are a resident of Canada for tax purposes.
- You or your spouse or common-law partner must be any of the following:
- a Canadian citizen
- a permanent resident
- a protected person
- a temporary resident who has lived in Canada for the previous 18 months and who has a valid permit in the 19th month other than one that states "does not confer status" or "does not confer temporary resident status"
- an individual who is registered, or entitled to be registered, under the Indian Act.
Payment Date: March 20, 2024
More about the Canada Child Benefit
Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit provides financial assistance for energy costs, sales tax, and property tax by combining three credits:
- Northern Ontario Energy Credit
- Ontario Energy and Property Tax Credit
- Ontario Sales Tax Credit
Eligibility for the benefit requires qualification for at least one of these credits. To be eligible, you must be a resident of Northern Ontario as of December 31, 2022, and meet one of the following criteria before June 1, 2024:
- Be 18 years of age or older
- Have had or currently have a spouse or common-law partner
- Be a parent who has lived with or currently lives with your child
Additionally, in 2022, you must have:
- Rented or paid property tax for your primary residence
- Lived on a reserve and paid for your home energy costs
- Resided in a public long-term care home (e.g., seniors' home) and paid for a portion of your accommodation.
Single individuals may receive a maximum benefit of $172, while families could receive up to $265.
Payment Date: March 8, 2024
More about the Ontario Trillium Benefit
Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) retirement pension is a monthly benefit that supplements your income during retirement. It's taxable and ensures financial support for the duration of your life once you qualify.
To be eligible for the CPP retirement pension, you must:
- Be at least 60 years old
- Have made at least one valid contribution to the CPP
Valid contributions can stem from work conducted in Canada or from credits acquired through a former spouse or common-law partner following the end of the relationship.
As of 2024, the maximum monthly amount receivable upon commencing your pension at age 65 is $1,364.60. However, the actual amount you receive depends on your individual circumstances, with the average monthly payment for new retirement pensions at age 65 recorded at $758.32 as of October 2023.
Payment Date: March 26, 2024
More about the Canada Pension Plan
Old Age Security (OAS)
The Old Age Security (OAS) pension is a monthly payment available to individuals aged 65 and older. Your employment history does not affect your eligibility for this pension; you can receive it regardless of whether you've worked in the past or are currently employed.
If you are residing in Canada, you must meet the following criteria to qualify:
- Be 65 years old or older
- Be a Canadian citizen or a legal resident at the time of OAS pension approval
- Have lived in Canada for at least 10 years since the age of 18
For those residing outside Canada, the eligibility requirements are:
- Being 65 years old or older
- Having been a Canadian citizen or legal resident of Canada the day before leaving the country
- Having resided in Canada for at least 20 years since the age of 18
Canadians aged 65 to 74 can receive up to $713.34, while those aged 75 and up can receive $784.67, per the CRA.
Payment Date: March 26, 2024
More about Old Age Security
Veteran Disability Pension
A disability benefit is tax-free financial assistance aimed at supporting your overall well-being, per the CRA.
The amount you receive is determined by the extent to which your condition is linked to your service (entitlement) and the severity of the condition, including its impact on your quality of life (assessment).
To be eligible for a disability benefit, you must fall into one of the following categories:
- Canadian Armed Forces member or Veteran
- Current or former member of the Royal Canadian Mounted Police (RCMP)
- Second World War or Korean War Veteran (including Merchant Navy)
- Certain civilians who served in the Second World War
You should consider applying for a disability benefit if you:
- Have a diagnosed medical condition or disability
- Can demonstrate that the condition is related to your service
If you qualify for a disability benefit, you will receive either:
- Pain and suffering compensation: This can be either a lifetime monthly benefit or a lump sum payment, depending on your preference. You can review the pain and suffering compensation rates and FAQs for more information.
- Disability pension: This provides a lifetime monthly benefit. If you have dependents (such as a spouse, common-law partner, and/or children), your monthly amount will be increased accordingly.
Payment Date: March 27, 2024
More about the Veteran Disability Pension
Quebec Pension Plan
The Québec Pension Plan (QPP) is a mandatory public insurance program designed for individuals aged 18 and above earning annual employment income exceeding $3500.
Its primary objective is to offer fundamental financial security to individuals and their families who have contributed through work in Québec, safeguarding against retirement, death, or disability-related uncertainties.
In other parts of Canada, the analogous program is the Canada Pension Plan (CPP).
Payment Date: March 28, 2024
More about the Quebec Pension Plan
This article's cover image was used for illustrative purposes only.
