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Canada Groceries & Essentials Benefit: Free Money Hits Your Account June 5 — Are You Getting Yours?

If you're a low- or modest-income Canadian, there's a very good chance the government is about to deposit money directly into your bank account — on June 5, 2026 — with zero application required. It's called the Canada Groceries and Essentials Benefit (CGEB) , and it's replacing the old GST/HST credit with a bigger, better payout. The first step? A one-time bonus payment arriving in less than two weeks. Here's everything you need to know to make sure you don't miss it. What Exactly Is This Payment? The federal government is transitioning away from the GST/HST Credit and launching the new Canada Groceries and Essentials Benefit (CGEB) starting July 2026. As a bridge to that new program, every current GST/HST credit recipient will receive a one-time lump-sum top-up on June 5, 2026 — equal to 50% of their annual 2025–26 GST/HST credit . Think of it as a bonus cheque (or direct deposit) to help you cover rising grocery and essentials costs right now, before the n...

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Annuities and Interest Rates: What You Need to Know

 

Annuities are financial products that provide a stream of income for a certain period of time, usually for the rest of your life. They can be a useful way to supplement your retirement income, especially if you are worried about outliving your savings. However, annuities are also affected by interest rates, which can influence their cost and benefits. Here are some factors to consider before buying an annuity in a high interest rate environment.

First, you need to understand how interest rates affect annuities. Generally speaking, when interest rates are high, annuities are cheaper to buy, because the insurance company can invest your money at a higher return and pay you more income. Conversely, when interest rates are low, annuities are more expensive to buy, because the insurance company has to invest your money at a lower return and pay you less income.

Second, you need to consider the type of annuity you want to buy. There are two main types of annuities: fixed and variable. Fixed annuities pay you a fixed amount of income every month, regardless of market conditions. Variable annuities pay you a variable amount of income every month, depending on the performance of the underlying investments. Fixed annuities are more sensitive to interest rate changes, because they lock in the current rate for the duration of the contract. Variable annuities are less sensitive to interest rate changes, because they adjust to the market performance over time.

Third, you need to weigh the pros and cons of buying an annuity in a high interest rate environment. On the one hand, buying an annuity when interest rates are high can give you a higher income for life, which can help you cope with inflation and rising expenses. On the other hand, buying an annuity when interest rates are high can also mean that you miss out on potential growth opportunities in other investments, such as stocks and bonds, which may offer higher returns in the long run.

Ultimately, the decision to buy an annuity depends on your personal goals, risk tolerance, and financial situation. You should consult a qualified financial advisor before making any major financial decisions. Annuities can be a valuable part of your retirement plan, but they are not for everyone. You should carefully evaluate your options and compare different products before buying an annuity.

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