With the new year underway, recipients of Canada Pension Plan and old-age security benefits are getting a modest increase from the federal government.

Effective Jan. 1, 2018, CPP payments will increase by 1.5 per cent for those already receiving benefits. For 2018, the maximum CPP retirement benefit for new recipients age 65 will be $1,134.17 per month, which represents a $20 increase from the beginning of 2017.

OAS benefits, which consist of the basic OAS pension, the guaranteed income supplement and allowances, will rise by 0.2 per cent for the first quarter of 2018 in comparison to the end of last year. As of Jan. 1, 2018, the basic OAS pension will be $586.66 per month, which represents an increase of $8.13 over the the first quarter of last year.

Have your say: Is it time for the government to act on its promise of a seniors price index?

The 2018 numbers represent a very modest increase, according to Wanda Morris, vice-president of advocacy at CARP.

The priority when it comes to such incremental changes, says Morris, should be Canada’s most vulnerable seniors. “What we need to do is focus on the number of individuals who are living in extreme poverty, particularly those who are receiving the GIS,” she says.

“The Liberal government is overdue to bring in their special seniors index as promised,” she adds, referring to a campaign promise by the federal Liberals to calculate benefit increases on the basis of a basket of factors that’s more relevant to seniors specifically than the consumer price index.

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com
See all comments Recent Comments

am:

The minimum wage increases to $14 an hour but the seniors who have contribute for years only get an increase of $8 a month for CPP?
How does that compare ?. They always get the shaft after their years of work and contributions to the gov’t !!!

Thursday, January 04 at 11:43 am | Reply

Jane Harrison:

I worked for a lawyer for 36 years. I enjoyed my job but it was very stressful at times with deadlines almost always very day. It was a small firm and we had very few benefits. I was always so frustrated and annoyed when I rushed to the Court house to file documents only to see the clerks sitting reading books and most times could hardly get up to wait on me? These government employees were earning top wages. Why should my tax dollars pay these workers more money than I made? I have always found this most upsetting and unfair.

Thursday, January 04 at 1:09 pm | Reply

Patricia O’Halloran:

Are theses comments forwarded to the prime minister or is this just annoyed waist of time! I have never heard of any complaints re the payment of wsib pensions in 2010—mine was so decreased that I did not qualify for a pension—due to poor interest gains on government investments. The worst was that the decreased interest started for wsib investments long before it hit anywhere else—and we had absolutely no control of this issue. Something was terribly wrong with this scenario—and I was told nothing could be done about this,

Friday, January 19 at 7:49 pm

DJ Hayward-Till:

Why are CPP increases calculated differently than salary increases for politicians?

Friday, January 05 at 7:33 pm | Reply

koko:

With the new year underway, recipients of Canada Pension Plan and old-age security benefits are getting a modest increase from the federal government.?
for cpp $380 monthly it will be about $4
thanks a lot

Sunday, January 07 at 6:46 pm | Reply

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