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Thread: Canada Pension Plan and Old Age Security will Increase in 2016

  1. Sat, Jan 2nd, 2016, 04:36 PM #1
    beachdown is offline
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    The new benefit amounts for the Canada Pension Plan (CPP) and Old Age Security (OAS) have been announced.
    According to Employment and Social Development Canada, effective January 1st, 2016, CPP benefits will increase by 1.2 per cent for those already receiving them. For 2016, the maximum CPP retirement benefit for new recipients age 65 and older will be $1,092.50 per month, an increase of $330 for the year compared to the 2015 maximum CPP retirement benefit.
    https://www.kelownanow.com/watercool...rease_in_2016/
    This thread is currently associated with: N/A
    Last edited by couponlady; Sat, Jan 2nd, 2016 at 04:52 PM.
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  3. Thu, Jan 7th, 2016, 04:03 PM #2
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    Thanks-I've printed off a copy of the changes so I will be able to inform parent at home.
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  4. Thu, Jan 7th, 2016, 07:28 PM #3
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    Wow ! A whopping 0.1 % increase for OAS !
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  5. Fri, Jan 8th, 2016, 01:37 PM #4
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    Quote Originally Posted by tjthemanto View Post
    Wow ! A whopping 0.1 % increase for OAS !
    Told hubby not to spend it all at one time. lol
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  6. Fri, Jan 8th, 2016, 06:27 PM #5
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    Niiiiiice cannot wait to retire; only 45 years more :p
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  7. Fri, Jan 8th, 2016, 06:43 PM #6
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    Quote Originally Posted by Crochetlady View Post
    Told hubby not to spend it all at one time. lol
    Better to be a refugee in this country than a retired senior citizen, who has worked all his life. Well atleast healthcare is free or whatever is left of it.
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  8. Fri, Jan 8th, 2016, 07:36 PM #7
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    Quote Originally Posted by tjthemanto View Post
    Better to be a refugee in this country than a retired senior citizen, who has worked all his life. Well atleast healthcare is free or whatever is left of it.
    Your first sentence is a very ignorant and misinformed statement. Pick a source below; you can google for more.

    http://www.ctvnews.ca/politics/fact-...ners-1.2670735

    http://globalnews.ca/news/2349786/no...an-pensioners/

    http://www.cic.gc.ca/english/helpcen...asp?q=105&t=11

    http://www.snopes.com/politics/immigration/refugees.asp
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  9. Sat, Jan 9th, 2016, 08:45 AM #8
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    Quote Originally Posted by tjthemanto View Post
    Wow ! A whopping 0.1 % increase for OAS !
    Yup, get in line. Still working, but have had a grand total of 0% increase over the last 13 years.
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  10. Sun, Jan 10th, 2016, 08:32 AM #9
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    Quote Originally Posted by Arvilish View Post
    Niiiiiice cannot wait to retire; only 45 years more :p
    @Arvilish , you don't have to retire if you don't want to.
    This lady started working in her 80s and still works at a school at 100 years of age
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  11. Sun, Jan 10th, 2016, 04:21 PM #10
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    ^Niiice!
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  12. Wed, Feb 3rd, 2016, 01:01 PM #11
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    The federal government is rolling out the direct deposit enrollment forms to OAS/CPP recipients. Mom's already on DD for those two but there's a third box on the form for CRA. I've asked her to call the tollfree number to find out if she needs to remit the form.
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