The Canada Pension Plan (CPP) is a monthly payment that is given to eligible Canadian citizens of the country. The Government of Canada has initiated this plan to help citizens financially after their retirement or in case of sudden demise or disability. Individuals need to meet the Canada Pension Plan Eligibility Criteria 2024 to receive the payments. The eligibility depends on the age and contribution rate of the senior citizen. The citizen can start to receive the CPP payment from the age of 60 years only. But the payment amount varies.
Details regarding the Canada Pension Plan 2024, Eligibility, and payment dates are given below in the article.
Canada Pension Plan 2024
The Canada Pension Plan retirement pension and disability benefits are paid monthly to you if you qualify for the Canada Pension Plan 2024 Eligibility. The CPP Retirement pension replaces a part of your income after retirement. You will get this payment for the rest of your life. If you start at the age of 60 then your payment will reduce by 0.6% every month, which will result in a maximum reduction of 36%. And if you start to receive the Canada Pension Plan 2024 Payment at the age of 70 or after then your payment can increase by 0.7% every month which will result in a maximum increase of 42%. So, depending on your retirement plans you can decide when to receive the CPP payments.
Those citizens who are not able to work because of a disability would get Canada Pension Plan Disability Benefit 2024. In order to get the benefit, the individual needs to fulfill the eligibility requirements decided by the CRA. As the eligibility differs for CPP disability benefits, CPP post-retirement disability benefits, and CPP Children’s benefits. Make sure you apply for the CPP Benefit on time to avoid any problems later as the application process can take a maximum of 120 days. it may even take longer if Service Canada doesn’t have enough information.
Canada Pension Plan 2024 – Overview
| Title of the Article | Canada Pension Plan 2024 |
| Beneficiaries | Senior Canadian residents |
| Eligibility Age | 60-70 years or above |
| Department Name | Canada Revenue Agency (CRA) |
| Payment Frequency | Monthly |
| Country Name | Canada |
| Benefits | Retirement Pension, Disability Benefit or Death |
| Category | Financial Aid |
| Official Website | Canada.ca |
Eligibility Criteria of CPP 2024
Canada’s Senior citizens must fulfil the Eligibility Criteria of CPP 2024 to become eligible for the payment. There are different eligibility rules for CPP Retirement Pension and CPP Disability or children’s Benefits. Check below if you qualify or not:
CPP Retirement Pension 2024
- The Citizen age must be a minimum of 60 years.
- Minimum 1 valid contribution to the CPP.
The CPP’s valid contribution could be from your work in Canada or receiving credit from your past spouse or common-law partner when a relationship ends.
CPP Disability or Children’s Benefit 2024
- CPP Disability Benefit
- The recipient should be below 65 years.
- Must have contributed towards CPP.
- If the recipient is not able to do significantly profitable work because of mental or physical disability.
- Have a long term disability which will result in death.
2. CPP Post-Retirement Disability Benefit
Only those individuals are entitled to the CPP Post-Retirement Disability Benefit 2024 who are currently receiving CPP Retirement pension monthly.
- Individual age is from 60 to 65.
- Must have contributed towards CPP.
- If the recipient is not able to do significantly profitable work because of mental or physical disability.
- Have a long term disability which will result in death.
- The Individual is getting the CPP Retirement Pension for at least 15 months or after receiving the retirement pension he/she became disabled.
3. CPP Children’s Benefits
If an Individual is receiving a disability benefit, then any of his/her dependent children are liable for the payment if they fulfil the below points:
- He/she should be below the age of 18.
- If his/her age is between 18 to 25 & attending full time school.
Payment Dates of Canada Pension Plan (CPP) 2024
The Canada Revenue Agency would deposit the Canada Pension Plan (CPP) Payment 2024 in the bank accounts of the citizens if they have opted for direct deposit. CPP covers benefits such as retirement pension, survivors, children, and disability. You will get the payment at the end of every month. It is recommended to wait for a few days before contacting CRA. Check the below table to know the Canada Pension Plan 2024 Payment Dates:
| CPP Payment Date 2024 | CPP Payment Month 2024 |
| 29 | January 2024 |
| 27 | February 2024 |
| 26 | March 2024 |
| 26 | April 2024 |
| 29 | May 2024 |
| 26 | June 2024 |
| 29 | July 2024 |
| 28 | August 2024 |
| 25 | September 2024 |
| 29 | October 2024 |
| 27 | November 2024 |
| 20 | December 2024 |
Canada Pension Plan Amount & Limit 2024
The Canada Pension Plan Amount 2024 depends upon the age when an individual starts to receive it. The Canadian senior who is getting monthly CPP is also eligible for other benefits of CPP which are retirement pension, combined pension & disability benefits, death benefits, combined survivors retirement pension, and survivors pension. From the age of 60, the individual is eligible for the Canada Pension Plan. Check the table below to know the Maximum Payment that you can get from the Canadian Government:
| Type of pension or benefit | Maximum Payment 2024 |
| Disability Benefit | CAD 1606.78 |
| Retirement Pension (65 age) | CAD 1364.60 |
| Survivors Pension Before the age of 65 | CAD 739.31 |
| Survivors Pension (65 or above) | CAD 818.76 |
| Death Benefit | CAD 2500 |
| Combined Survivor’s disability and pension benefit | CAD 1613.54 |
| Combined Survivors and retirement pension | CAD 1375.41 |