Most older Canadians who qualify will see more money in their bank accounts as of Friday, when scheduled Canada Pension Plan (CPP) and Old Age Security (OAS) benefit payments start rolling out from the federal government.

CPP and OAS payments are sent out every month to qualifying Canadians, and although both are designed to provide financial support for older Canadians, they differ in terms of how one qualifies and how much money can be received.

Payments will be sent electronically to bank accounts as soon as Friday for those who are signed up for direct deposit, while others could receive paper cheques, but may have to wait longer.

Here’s…

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