The Canadian government is always proactive in providing financial support to its citizens who need it. Canada has many programs in which payments are provided to senior citizens who have low incomes and are not able to manage their basic lifestyle expenses. To reduce this poverty among senior citizens, the government may launch a $1590 extra amount in the Canada Pension Plan (CPP). To know about the topic of $1590 Extra Added to CPP Payments by Justin Trudeau or not, read the full article.
$1590 Extra Added to CPP Payments by Justin Trudeau or not
Justin Trudeau, the honourable prime minister of Canada, has launched many schemes to end poverty in senior citizens by providing them with monetary aid. These payments help them to cover the costs of necessary expenses such as food, clothes, power, and rent. After retirement, many senior citizens lost their incomes and became dependent on others. They cannot even afford food and medications. This payment is the only source of income for many Canadian senior citizens.
It is rumoured that the prime minister of Canada, Justin Trudeau, has announced an extra amount of $1590 added to the Canada Pension Plan (CPP) payments. There has been no official news regarding this payment and it might not be true. The news about the additional payment in CPP is true but the exact amount is not available at the moment.
Key Highlights
| Particulars | Details |
| Article Name | $1590 Extra Added to CPP Payments by Justin Trudeau or not |
| Program Name | Canada Pension Plan (CPP) |
| Providing Authority | Canada Revenue Agency (CRA) and Justin Trudeau (PM) |
| Country | Canada |
| Government | Canadian Government |
| Benefit Amount | Up to $1590 |
| Payment Date | Payment may begin on January 29, 2025 |
| Category | Government Aid |
| Official Website | Canada Revenue Agency (CRA) |
Eligibility Criteria
- Age Requirement: To be eligible for the additional $1590 CPP, an individual must be 65 years old by January 2025 or above. One can start receiving reduced benefits as early as age 60, but the amount will be less (by 0.6% for each month before your 65th birthday).
- Citizenship and Residency: The applicant for the Canada Pension Plan must be a citizen or permanent resident of Australia.
- Contributions: Contributions to the Canada Pension Plan (CPP) during your employment will affect the payment amount, although the standard payment is set at $1660 for eligible individuals.
- Receiving Additional Benefits: All eligible beneficiaries, regardless of retirement status, will receive this additional payment, which may also be available to those receiving disability or survivor benefits from the CPP.
- Taxpayers: It is mandatory for seniors to be permanent taxpayers and workers for a business that has a Canada Revenue Agency.
Payment Dates for the CPP
| Months | Payment Dates |
| January | 29 January |
| February | 26 February |
| March | 27 March |
| April | 28 April |
| May | 28 May |
| June | 26 June |
| July | 29 July |
| August | 27 August |
| September | 29 September |
| October | 29 October |
| November | 26 November |
| December | 29 December |
Benefits of $1590 Extra Added to CPP Payments
- Cover the Cost of Living: There has been a rapid rise in the costs of living in Canada, which has created a major problem for senior citizens. They already have no source of income and very little money, and due to high costs, they are not able to fulfil their basic needs. But with the introduction of CPP payments with additional benefits, there has been a relief in their lives.
- Adaptations to Inflation: Inflation has been a very huge problem for the senior citizens. The payments provided to them will help in the time of inflation and will provide them with a financially secure future.
- Supplementary Support: For many elderly people, this payment takes care of the last bill they might not have budgeted for in between pension payments.
- Encouragements in Contributions: The correlation that has been made between contributions and benefits seeks to encourage people to participate in the program.
FAQs
Do I need to apply for the $1590 payment?
No, you need not to apply for the $1590 payment. If you are eligible, the payment will automatically be transferred into your account.
Can I receive my payment even if I live outside Canada?
Yes, you can receive your payment even if you live outside Canada, as long as you meet the eligibility criteria.
When will I be able to claim this payment?
If you are eligible, you will receive your CPP payment on 29 January 2025.