Quebec residents can receive payments from these government benefits and credits in May
You could be entitled to hundreds of dollars in benefits.
As living costs in Canada continue to climb, residents are looking for ways to both save and increase income. Quebec's government provides various financial programs and credits to help offset inflation, particularly aiding low-income families.
Several benefits and credits available to Quebec residents are scheduled for disbursement this May. It's important to confirm eligibility for these government benefits, as you could be entitled to hundreds of dollars. Among them are the Canada Child Benefit, Quebec Pension Plan, Quebec Family Allowance, and the Old Age Security.
Here's everything you need to know about the benefits and credits going out to Quebec residents in May.
Quebec Pension Plan (QPP)
The Québec Pension Plan is a compulsory public insurance program for workers aged 18 and over earning over $3,500 annually. It offers basic financial protection for retirement, disability and death. Since 2019, it has consisted of a base plan and an additional plan, boosting income replacement and the maximum pensionable salary, per Revenu Quebec.
Both plans are funded by contributions from employers and employees. The base plan provides pensions and benefits for retirement, disability and death, while the additional plan enhances these benefits, especially for retirement and disability.
Payment Date: May 31, 2024
Public-sector pension plans (RREGOP, PPMP)
For those who collect a pension and opt for direct deposit, the public-sector retirement pension will be paid on the 15th of each month for the rest of your life, per Retraite Quebec.
If the 15th falls on a weekend or statutory holiday, your pension will be paid on the preceding business day. If you opted for payment by cheque, the cheque will be issued no later than 48 hours before that date.
Payment Date: May 15, 2024
Family Allowance
Family Allowance payments provide financial aid to eligible families with dependent children under 18.
For newborns in Québec, no application is needed; they are automatically enrolled when their birth is registered with the Directeur de l'état civil.
In other cases, an Application for Family Allowance is required for adoptions, immigration to Québec, a child's arrival or return to Québec, births outside Québec, custody changes, and upon Retraite Québec's request.
The payment amount varies based on the number of dependent children, shared custody arrangements, family income, and family type.
The government allows residents to opt for monthly or quarterly payments, for those who receive payments each month can expect them on the first of the month.
Payment Date: May 1, 2024
Canada Pension Plan
Canada Pension Plan (CPP) offers a monthly taxable benefit aimed at bolstering your income during retirement. Eligible recipients can expect to receive this pension throughout their lifetime.
To be eligible for CPP, you must be at least 60 years old and have made at least one valid contribution to the plan. Contributions can result from employment in Canada or credits acquired through the dissolution of a former marriage or common-law partnership.
The amount of your CPP retirement pension is determined by factors such as your contribution start date and average earnings. As of 2024, starting at age 65, the maximum monthly payment is $1,364.60, with an average of $831.92.
Payment Date: May 29, 2024
Old Age Security
The Old Age Security (OAS) pension is a monthly payment accessible to individuals aged 65 and above. In many instances, Service Canada will automatically enroll eligible recipients if sufficient information is on file. However, if you haven't received confirmation of enrollment by the month following your 64th birthday, you may need to apply for OAS, as advised by the Canada Revenue Agency.
Unlike some pensions, eligibility for OAS does not hinge on employment history; it is available to all, regardless of work status. For Canadian residents, eligibility requires being 65 or older, holding Canadian citizenship or legal residency upon approval of the application, and having resided in Canada for at least 10 years since turning 18. Non-residents must be 65 or older, have been Canadian citizens or legal residents before leaving Canada, and have lived in Canada for at least 20 years since turning 18 to qualify.
Individuals aged 65 to 74 can expect to receive $713.34, while those aged 75 and above can receive $784.67.
Payment Date: May 29, 2024
Canada Child Benefit
The Canada Child Benefit (CCB) offers tax-free monthly assistance to qualifying families raising children under 18, potentially including the child disability benefit and relevant provincial/territorial programs.
To be eligible, you must reside with a child under 18, have primary responsibility for their care, and meet Canadian tax residency requirements. Eligibility is open to Canadian citizens, permanent residents, protected persons, temporary residents residing in Canada for 18 months with a valid permit, and individuals registered under the Indian Act.
The maximum CCB is provided if your adjusted family net income is below $34,863 annually, ensuring no reduction in support. For children under six, the yearly benefit is $7,437 ($619.75 monthly), and for those aged six to 17, it's $6,275 annually ($522.91 monthly).
Payment Date: May 17, 2024
Veteran Disability Pension
The Veteran Disability Pension is a tax-free benefit aimed at enhancing the well-being of some Canadians. The amounts sent out are based on the connection between your condition and service (entitlement), as well as the severity of the condition and its impact on your life (assessment).
Eligibility extends to Canadian Armed Forces members or Veterans, current or former RCMP members, Second World War or Korean War Veterans (including Merchant Navy), and certain civilians who served in the Second World War.
If you have a diagnosed medical condition related to your service, it's advisable to apply for this benefit.
Payment Date: May 30, 2024
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