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Email this10:49 am
December 23, 2011
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Click below:
1:28 pm
November 4, 2014
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Kanaka, I look at these every month as I am on C.P.P. disability pension earning about $1,200 a month or so.
My wife is still working but will probably apply for her early C.P.P. in 1 year to 18 months or so as her job prospects are not great because of management and company changes.
We are financially fine in that we saved, invested over decades in our investments, RRSP's, GIC's, savings accounts and TFSA's since 2009.
We are also debt free, no debts at all and we have a modest house which is not that expensive to keep, maintain and repair. These 3 things is helping us alot now.
I can't imagine having auto loans, line of credits, credit card debt, large or even medium size mortgage etc. We were always debt adverse and pro savings, investments.
It is a good reference Kanaka for those that are getting C.P.P, OAS. 
4:36 pm
October 21, 2013
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The chart implies that they are still willing to send cheques in the mail, but I was under the impression that this was being discontinued as an option, in favour of direct deposit.
Anyone expecting a cheque might want to inquire about that.
4:48 pm
November 4, 2014
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I thought, I heard that paper checks mailed would be discounted in starting in 2016. I may be wrong about this.
I agree that direct deposit is more convenient and they don't hold your money for days, 5 business days which usually works out to 7 days with the weekend is usually the hold period for paper checks of less than $1,500.
It will probably save the government millions of dollars and hopefully they will not waste that money and use it for some good either by giving money back to us or services that is useful, helpful for us. This maybe wishful thinking anyway.
4:59 pm
December 23, 2011
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Just found this...but no final date.
http://www.servicecanada.gc.ca.....ndex.shtml
I wonder if there is an exception to the elderly that don't want the "change"?
But as much as I held out on electronic statements...it is the way to go.....I have always had no issue to electronic deposits. But still disagree with being charged for a mailed statement!
As stated, no holds, no lost, no stolen from commmunity mail box. Much safer!
Just what happens when this era of aged internet users becomes unavailable due to cost or not able to comprehend/manage?
5:23 pm
October 27, 2013
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As I understand it, there will be some exceptions for folks that do not have ready access to a financial institution, e.g. the North.
As for everyone else, why would they not want a change to direct deposit gov't cheques? Everyone needs and has access to ATMs or a bank teller and that is all that is needed to withdraw desired cash funds. Even better for those with mobility issues. Direct deposit to a bank. Auto debit for rent payments, bills, etc.
The title of this thread has nothing to do with 'statements' or internet usage.
8:13 pm
October 21, 2013
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I think the problem in the future will be for people who do not have access to the internet in the home.
This can happen for a variety of reasons. Some people simply can't afford it. Some, especially as they age, can't keep up with ever-changing technology or trying to deal with computer viruses or other glitches. And some will have physical problems such as arthritis in the fingers. So there needs to be an accessible cost-free way of accessing one's bank statements.
The old-fashioned way, through mailed bank statements, works pretty well, but the needs of seniors and persons with disabilities are being ignored there too, as there will no longer be mail delivery to the home. There will probably always be couriers, and they may be needed for these important documents.
Some but not all banks and credit unions offer telephone banking, which may be the only accessible route for some people in the future. Let's hope they don't take that away too!
8:22 am
November 16, 2014
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All this is fine as long as you have a reliable (newer) computer, and reliable internet access. What happens to computer-illiterate seniors when their computer crashes, or when the internet is down for longer periods of time?
Also, unless you are able to keep up with the latest browsers and ever-changing technology in general, you'll have to find someone you trust and let them handle your financial affairs. Good luck with that!
10:08 am
October 27, 2013
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I am missing something here. What does discussion of computers and the Internet in this thread have anything to do with OAS/CPP payment schedule and direct deposit, the subject of this thread? I know many folk that have never had computers but make arrangements for direct deposit (and auto debit) of lots of things. Direct deposit applications can be obtained by phoning the institution, received via Canada Post, completed by hand, and mailed via Canada Post. A computer and access to the Internet is not required in any of the situations that I know of.
My 96 yr old mother who does not know how to even turn on a computer got the Direct Deposit form in her OAS/CPP envelope. She filled it out with some help from her son and then she mailed it. It does not get easier than that for non-computer, non-Internet users.
If folks want to discuss the 'problems' with mailed, or non-mailed bank statements, that is a completely different issue (subject).... which by the way, exceptions are made for elderly and disabled people just by talking to the user's bank branch.
10:15 am
October 21, 2013
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The link given in the first post talks clearly about a schedule which includes both direct deposit and snail mail.
Seems perfectly reasonable to me to discuss issues that arise in regards to these specifics.
10:50 am
December 23, 2011
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Every topic is like a river. And rivers have tributaries.
11:06 am
October 27, 2013
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kanaka said
Every topic is like a river. And rivers have tributaries.
But crossing the continental divide in a whole new watershed.... not so much.
Getting back to the topic at hand, no one I know of who still gets the yellow envelopes can provide a reason when I ask them why they continue to do so, except habit and to a lesser extent, a reason to get out. Most say they have to find time (and the inconvenience thereof) within a few days of receiving it to get to the bank to deposit the cheque.
11:25 pm
December 12, 2009
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kanaka said
Just found this...but no final date.
http://www.servicecanada.gc.ca.....ndex.shtml
I wonder if there is an exception to the elderly that don't want the "change"?
But as much as I held out on electronic statements...it is the way to go.....I have always had no issue to electronic deposits. But still disagree with being charged for a mailed statement!
As stated, no holds, no lost, no stolen from commmunity mail box. Much safer!
Just what happens when this era of aged internet users becomes unavailable due to cost or not able to comprehend/manage?
The "hard and fast date" is end of April 2016. They announced this in 2012 - there's been tonnes of warning. They need to "stick to their guns" on this - only exception(s) are where a federally-chartered bank or trust company branch does not exist in remote areas so far away from populated cities and towns where there is one. If you don't sign-up, the government has promised (check with then-Minister Ambrose herself) to hold back payments after that date until banking information is provided to them and then back payments would be consolidated into one, large "lump-sum" deposit is my understanding. 
(This is arguably the only decent thing the 'Harper government' has done in 8 years!)
Cheers,
Doug
5:02 pm
November 4, 2014
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Didn't the Federal government in 2009 introduce TFSA's which is in my opinion the best government legislated savings, investment plan to help Canadians build wealth and financial strength since RRSP's were introduced in the 1950's.
Harper was and is part of that government now pushing for even higher TFSA limits which by the way is already $500 higher today, 2014 $5,500 versus $5,000 in 2009.
11:11 pm
October 21, 2013
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OAS and CPP payment amounts for 2015 are discussed here: http://news.gc.ca/web/article-.....nid=916899
CPP is going up 1.8% for 2015;
OAS remains the same for 1st quarter at $563.74 /month.
1:39 pm
November 4, 2014
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My C.P.P disability increased by the same 1.80% for 2015. It is about $22.49 per month but this 100% taxable income as well.
However, I am getting about an annual $1,525 income tax savings from my disability tax credit so it is not all that bad in the end.
I am talking about tax wise that is. It works out to about half my C.P.P disability is refunded in income taxes.
We all know that our water, electricity, heat, property taxes, telephone and internet are all going up more than 1.80%, anywhere from 4% to 10% depending where you live in Canada.
Please write your comments in the forum.