Updated on February 5, 2024
Find out when Canadians can expect the $2460 Additional Pension from CRA! The Government of Canada is rolling out a new benefit act, and this article breaks down all the details about the upcoming Additional Pension amount.
$2460 Additional Pension by CRA
The Canada Revenue Agency and the Federal Government teamed up to introduce a new benefit act, aiming to help citizens combat inflation. With Budget 2024 around the corner, plans and funds are in motion, set to take effect from April 1, 2024.
The budget allocation for pensions surpassed expectations this fiscal year, and applicants have been receiving benefits successfully. Notably, funds from the previous year, yet to be allocated, are now being utilized for additional benefit plans. These encompass various categories, such as pensions, child benefits, disability benefits, and survival plans, with the $2460 pension standing out among these allocated funds.
What is a $2460 Additional Pension?
The CRA has rolled out a plan to support elderly citizens grappling with rising living costs. As the cost of living continues to climb, retirees find themselves reliant on others for covering essential expenses. In response to this challenge, an additional pension plan has been introduced to provide a helping hand.