The Canadian government, through the Canada Revenue Agency (CRA), has announced a one-time $1,380 direct deposit for seniors in 2024.
This initiative aims to support elderly Canadians facing financial hardships, particularly with rising living costs and healthcare expenses. If you’re eligible, this payment will supplement your Old Age Security (OAS) benefits, providing much-needed financial relief.
Here’s everything you need to know about the program, its eligibility criteria, and how to claim your payment.
Overview of the Extra $1,380 Payment
The $1,380 Extra Direct Deposit is part of a broader enhancement to the OAS program, introduced under Prime Minister Justin Trudeau’s administration. This payment reflects the government’s commitment to improving the financial stability of seniors who rely heavily on fixed incomes.
| Program | Details |
|---|---|
| Payment Amount | $1,380 |
| Administering Body | Canada Revenue Agency (CRA) |
| Eligibility | Seniors aged 65+, OAS recipients |
| Payment Mode | Direct Deposit |
| Target Group | Seniors with modest incomes |
| Official Website | www.canada.ca |
Eligibility Criteria for the $1,380 OAS Deposit
To qualify for this one-time payment, seniors must meet the following conditions:
1. Age Requirement
- Must be 65 years or older.
2. Residency
- Must be a Canadian citizen or have lived in Canada for at least 10 years after turning 18.
3. Income Level
- Primarily targets seniors with modest incomes, ensuring the funds reach those most in need.
Payment Details
The $1,380 payment will be deposited directly into the bank accounts of eligible seniors. If you already receive OAS payments, you don’t need to apply; the payment will be automatically added.
Payment Dates
As of now, the official payment date for the $1,380 deposit has not been announced. Seniors are encouraged to monitor updates on the CRA official website or their My Service Canada Account.
How to Claim the $1,380 Direct Deposit
If you are already an OAS recipient, you do not need to take additional steps. For new applicants or those who haven’t set up direct deposit, follow these instructions:
- Check Eligibility
- Visit www.canada.ca to review the eligibility criteria.
- Set Up Direct Deposit
- Use your My Service Canada Account or contact Service Canada to ensure timely payments.
- Submit Your Application
- New applicants can submit their information, including banking details, through the CRA’s official website.
- Track Payments
- Log in to your My Service Canada Account to view payment history and upcoming deposits.
Benefits of the $1,380 Direct Deposit
This payment offers more than just financial relief; it’s a step toward enhancing the quality of life for seniors.
- Supports Rising Costs: Helps manage housing, utilities, and healthcare expenses.
- No Application Hassle: Automatically deposited for eligible OAS recipients.
- Financial Stability: Reduces stress caused by inflation and economic pressures.
Fact Check
This one-time $1,380 payment for seniors is a confirmed addition to the OAS program under the leadership of Prime Minister Justin Trudeau in 2024. It targets those aged 65 and older who meet the residency and income criteria, aiming to provide relief from rising living costs.
