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Canadian Imperial Bank of Commerce (CIBC) has reached a settlement in a class action lawsuit that could mean compensation for certain customers. This lawsuit, involving millions of dollars, addresses allegations that CIBC failed to adequately pay employees for overtime work, resulting in violations of labor laws. If you are a CIBC employee or were impacted … Read more
The Canada FPT deposit may have appeared in your bank account, leaving you wondering what it means and whether you qualify. These deposits are government payments aimed at providing financial support to Canadians through various tax credits and benefits. The “FPT” stands for Federal-Provincial/Territorial, signifying that the funds come from a collaboration between Canada’s federal … Read more
The Canada Pension Plan (CPP) is one of the most important retirement, disability, and survivor income support programs for Canadians. In 2024, the CPP will see several updates, including new payment dates, enhanced disability benefits, and adjustments to contribution limits. This article will provide you with everything you need to know about the CPP in … Read more
In 2024, there have been discussions about potential increases to the Old Age Security (OAS) payments for Canadian seniors, with rumors suggesting a significant boost of $1,400 per month. This has raised questions among seniors and their families about eligibility, the authenticity of this increase, and how to maximize their benefits. Let’s dive into what … Read more
As Canadian seniors look toward retirement security, recent updates to the Canada Pension Plan (CPP) have been a topic of great interest. With a potential increase of up to $1,502 per month in CPP payments for those eligible, many seniors are eager to understand how this increase works, who qualifies, and when the payments will … Read more
As of 2024, Canadian seniors may see a significant increase in their Old Age Security (OAS) payments due to additional government support. This extra deposit is part of the government’s ongoing efforts to provide financial relief to seniors amidst rising living costs. Let’s break down what this $1,200 bonus means, who qualifies, and when seniors … Read more
As the cost of living rises, financial security in retirement has become a significant concern for seniors. Many rely on a combination of government benefits, pensions, and savings to cover their expenses. In 2024, a monthly benefit of up to $1,200 will be available to retired seniors, helping them to maintain their quality of life. … Read more
The Employment Insurance (EI) program is a key component of Canada’s social safety net, providing temporary financial assistance to individuals who are out of work or unable to work due to illness, maternity, parental leave, or other qualifying reasons. Each year, the maximum EI contribution is adjusted to reflect changes in the economy and wages. … Read more
As the Canada Revenue Agency (CRA) gears up for October 2024, Canadians who rely on various government benefits are eager to know when their payments will be deposited. Whether you are receiving the Canada Child Benefit (CCB), the Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit, or the Canada Workers Benefit (CWB), it is crucial … Read more
Seniors across Canada eagerly anticipate their monthly Old Age Security (OAS) payments, which provide vital financial support during retirement. In October 2024, recipients can expect a payment of $1,029.86. This article provides comprehensive details about the OAS payment, eligibility criteria, and what you need to know to ensure you receive your benefits on time. Understanding … Read more