Old Age Benefit Increases For 2016
Now that its 2016, benefits for pensions have gone up.
As of January 1st, there is a 1.2% increase for those already receiving the Canada Pension Plan.
The maximum for new recipients is now just over $1092 a month, up $330 from 2015.
Each year, the rates are revised and will be in effect until December 31st.
The Old Age Security benefit is also up by 0.1% to just over $570 a month.
Every three months, the OAS rates are revised.