Next CPP payment coming on Tuesday for Canadian retirees

Canadian retirees will receive their latest Canada Pension Plan (CPP) payments Tuesday.

CPP payments will be deposited in the accounts of eligible Canadians who set up direct deposit.

Others will receive a cheque in the mail during the last three business days of the month.

The federal benefit’s final payments for this year are next scheduled on Nov. 27 and Dec. 20.

Eligible Canadians receive the taxable benefit each month for the rest of their lives to replace part of their incomes when they retire.

To be eligible for CPP, individuals must be at least 60 years old and have made at least one contribution to the plan, according to the Canadian government. Contributions must have been made from work conducted in Canada, or as a result of credits from a former spouse or former common-law partner, it said.