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The Top Benefits Canadians Count On

Canadians are fortunate to have a variety of benefit programs to assist with daily living. The most common ones are listed in this article.

To help deal with daily necessities, Canadians today have access to many support programs. Here are five of the well-known ones.

1. Canadian Pension Plan (Retirement)
The Canadian Pension Plan (CPP) for retirement is a monthly taxable benefit. Those who have made regular CPP contributions may apply. This benefit is not something you can claim right away but around your retirement. So if you made contributions during your working years, be sure to use them in the months leading up to retirement.

2. Canadian Pension Plan (Disability)
Canadians under 65 who have made applicable CPP contributions and have a mental or physical disability may qualify for CPP. CPP has been beneficial for many Canadians. Although it's not a perfect program, according to critics, it has served many Canadians with disabilities.

In the province of Ontario, those under the ODSP (Ontario Disability Support Program) may be eligible for a variety of supports including supplies, medical, prescription drug coverage, and dental and vision care. A generally helpful program, they have come under fire for freezing payments from time to time.

4. Child Care Support
Depending on the province or territory where you live, programs to help with the cost of child care are typically provided through regular payments. In January 2022, Alberta was the latest province to introduce a program of this kind. Know your benefits payment dates so you can plan before you receive them.

5. The Canadian Workers Benefit (CWB)
The CWB is a refundable tax credit for low-income working individuals and families. Those in urgent need can apply to have up to half of their CWB payments advanced before the tax season.

These are just a handful of the many programs available through federal or provincial channels to help hard working Canadians coast to coast. The CRA is also very flexible if you owe payments on specific programs (Example: CERB). If you need to pay something back, there are payday loan services for families. You may also get a fast cash loan from My Canada Payday. Contact them for details.

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