5 Things to Know Today Your morning briefing on what's moving Canadian wallets and markets — Thursday, June 5, 2026. 1 / Benefits Your Grocery Benefit Cheque Lands Today Today is the day millions of Canadians have been watching their bank accounts for. The federal government is issuing a one-time Canada Groceries and Essentials Benefit (CGEB) top-up to more than 12 million eligible Canadians starting June 5, 2026. The payment equals roughly 50% of your annual GST/HST credit entitlement — so if you normally receive that credit, expect to see a notably larger-than-usual deposit. The numbers: a family of four could receive up to $1,890 in 2026 (including the top-up), while a single person could receive up to $950 . Your bank statement may still label the deposit as "GST/HST Credit" or "GST/HST RC150" — that's normal. The full rebrand to CGEB takes effect July 3, 2026, when the regular quarterly payments resume at a permanent 25% increase for the next five...
- The Canada Pension Plan (CPP) is a monthly, taxable benefit designed to supplement your income during retirement.
- CPP payments are not automatic — you must apply. To qualify you must: be at least 60 years old and have made at least one valid contribution to the CPP.
- The amount of your retirement pension depends on different factors, such as the age you decide to start your pension, how much and for how long have you contributed to the CPP, and your average earnings throughout your working life.
- In 2024, if you commence your pension at the age of 65, the highest monthly payout could be $1,364.60. The typical monthly payment for a new retirement pension initiated at age 65, as of October 2023, stood at $758.32.
- CPP payments go out every month. The first payment of 2024 took place on January 29.
- If you’re eligible for Canada’s pension plan, you could qualify for over $1,300 per month.
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