As of 2025, Canada’s retirement pension programs—Canada Pension Plan (CPP) and Old Age Security (OAS)—have seen important updates to help seniors cope with inflation and rising living expenses.
The maximum monthly CPP benefit has increased to $1,433, while OAS offers up to $800.44 for those aged 75 and above. Combined, eligible Canadians can receive up to $2,233.44 per month in retirement benefits.
Whether you’re already retired or approaching retirement, here’s everything you need to know about the 2025 pension increases, eligibility rules, and payment schedule.
Canada Pension Plan (CPP) in 2025
The CPP is a contributory program based on your employment income during your working years. The more you contribute, and the longer you wait to claim it (up to age 70), the higher your monthly payments.
CPP Key Figures for 2025
| Category | Amount (Monthly) |
|---|---|
| Maximum CPP Payment (Age 65) | $1,433.00 |
| Average CPP Payment | $808.14 |
| Earliest Eligibility Age | 60 |
| Full Retirement Age | 65 |
| Max Deferral Benefit Age | 70 |
| 2025 Increase Rate | ~2.6% (based on YMPE) |
Waiting until age 70 to start CPP can boost your benefits by over 40%.
Old Age Security (OAS) in 2025
The OAS does not require prior employment or contributions and is funded by general government revenues. It is age- and residency-based.
OAS Benefit Amounts
| Age Group | Monthly OAS (2025) |
|---|---|
| 65 to 74 | $727.67 |
| 75 and above | $800.44 |
OAS is adjusted quarterly based on the Consumer Price Index (CPI) to maintain purchasing power.
Who Is Eligible for the Increase?
CPP Eligibility Criteria
- Must be at least 60 years old
- Have made at least one valid contribution to CPP
OAS Eligibility Criteria
- Must be 65 or older
- Lived in Canada for at least 10 years after age 18
- To receive full benefits: generally 40 years of Canadian residency
Next CPP & OAS Payment Dates (2025)
| Month | Payment Date |
|---|---|
| June | June 26 |
| July | July 29 |
| August | August 27 |
| September | September 25 |
| October | October 29 |
| November | November 26 |
| December | December 22 |
Use My Service Canada Account to update your banking info and avoid payment delays.
Tips to Maximize Your Retirement Benefits
- Delay CPP and OAS: Increases by 0.7% and 0.6% per month respectively after standard age.
- Apply for GIS: Low-income seniors receiving OAS may qualify for up to $1,065 extra monthly via the Guaranteed Income Supplement.
- Watch the Clawback: OAS begins to reduce when your annual income exceeds $90,997.
- Use Pension Sharing: If your spouse earns significantly more, sharing CPP can lower taxes.
- Post-Retirement Benefits (PRB): If working past 65, optional contributions can further increase CPP.
The 2025 increase to Canada’s retirement pensions provides much-needed relief for seniors navigating rising expenses.
With up to $2,233.44/month available from CPP and OAS, knowing your eligibility, filing properly, and strategizing your withdrawals can make a big financial difference.
Ensure you’re maximizing your benefits today by logging into My Service Canada and reviewing your contribution history.
FAQs
Can I get CPP and OAS at the same time?
Yes, if you meet eligibility for both, you can receive CPP and OAS simultaneously, adding up to a potential $2,233.44/month.
What happens if I delay OAS until age 70?
Delaying OAS past 65 increases your monthly payment by 0.6% per month, up to 36% more if delayed until 70.
Is GIS automatically applied with OAS?
No. You must apply separately for the Guaranteed Income Supplement if your income is low and you’re receiving OAS.