The Canada Pension Plan (CPP) is an essential financial assistance program for qualifying individuals in Canada, which offers a monthly payment. On April 26, 2024, this year’s second CPP Payment has been made to the eligible recipients. This program has two primary categories: (i) Retirement Pension and (ii) Disability Benefits. Each category has its own unique advantages and eligibility criteria.
Retirement Pension is a taxable benefit aimed at providing retirees with a reliable source of income to replace a portion of their earnings after they retire. This benefit ensures that retirees have sufficient financial support to meet their needs during their retirement years.
Staying informed about the Payment Dates for the Canada Pension Plan is crucial for those who have applied. The Government of Canada provides an official web portal where applicants can quickly check for updates. The last CPP payment was made on 26 March 2024. Eligible candidates have been paid the CPP benefit on 26 April 2024, the second CPP payment for the current year.
Official CPP Payment Dates 2024
Canadian Pension Plan payments are typically deposited into your bank account on the last business day of each month, except for December. The payment is made on the second-to-last business day before 25th December.
| Name of Program | Canada Pension Plan |
| Introduced By | Government of Canada |
| Managed By | Employment and Social Development Canada |
| Frequency | Monthly |
| Recent CPP Payment Date | 26 April 2024 |
| Official Website | canada.ca |
| Benefits | Retirement Pension and Disability Benefits |
If you receive CPP benefits through Western Union GlobalPay Payee Manager, your international pension payment may take up to five business days to be deposited after the Canadian pension payment date.
Canada Pension Plan Benefit Amount
| Type of Benefit | Maximum Benefit Amount |
|---|---|
| Retirement pension | 1,306.57 dollars |
| Post-retirement benefit | 40.25 dollars |
| Disability benefit | 1,538.67 dollars |
| Post-retirement disability benefit | 558.74 dollars |
| Children of disabled CPP contributors | 281.72 dollars |
| Children of deceased CPP contributors | 281.72 dollars |
| Death benefit (one time) | 2,500 dollars |
Steps to check CPP Payment Status
To check the status of your CPP Payment in December, you should visit the official portal of the Canadian Government. Once there, you must log in to your MSCA account using your Social Insurance Number. After logging in, provide the necessary details to check the Canada Pension Plan Payment Status.
Please note that the status may take 1-2 days to update and display the necessary information. You can also contact the CRA officials through the number provided on the portal for further assistance regarding your payment status. Contact the officials for assistance if you cannot check the CPP Payment Status 2024.
Canada Pension Plan Payout Schedule 2024
Here, we added a table for the monthly CPP payment dates.
| Month | CPP Payment Dates |
|---|---|
| April 2024 | 26 April |
| May 2024 | 29 May |
| June 2024 | 26 June |
| July 2024 | 29 July |
| August 2024 | 28 August |
| September 2024 | 25 September |
| October 2024 | 29 October |
| November 2024 | 27 November |
| December 2024 | 20 December |
The Canada Pension Plan (CPP) is set to introduce new benefits in 2024 and 2025. As a result, it will now support Canadians, equivalent to about one-third of their post-2019 employment earnings. If you have contributed to the CPP since January 1, 2019, you may notice an increase in your CPP benefits. This new development will have a positive impact on your overall financial well-being.
There are upcoming changes to the Canadian Pension Plan (CPP) that will impact those who earn beyond a certain amount. In 2024, there will be a projected 4% increase in the maximum earnings protected by the CPP for these individuals. The second earnings ceiling will also be raised by 7% above the first. In 2025, the subsequent ceiling is expected to increase by 14%.
