Eligible Canadians can expect to see money in their bank accounts soon as the Canada Pension Plan (CPP) and Old Age Security (OAS) payments go out this week.
For Canadians who receive CPP every month, the payments are taxable government benefits that replace part of their income when they retire. Payments are received for the rest of their lives. To be eligible to receive these monthly payments, you need to be at least 60 years old and have made at least one valid contribution to the CPP.
You don’t have to be fully retired to qualify, either — Canadians will receive their full pension even if they’re under 70 years old and still employed. In fact, if you’re working, you can increase your pension by contributing to the CPP post-retirement benefit.
Canadians who receive CPP and OAS saw their payments increase in January.
ungvar/Shutterstock
At age 65, the maximum CPP payment you can receive went up from $1,433 to $1,507.65 starting January 2026. As of October 2025, new CPP beneficiaries aged 65 can receive monthly payments of $803.76 — a nearly $100 decrease from the monthly payment of $899.67 in October 2024.
This month’s CPP payments should hit bank accounts on Friday, March 27.
Regardless of their work history, Canadians can qualify for the OAS pension if they’re 65 and older.
To be eligible, you must be 65 and older, a citizen or resident when your pension application is approved, and you must have lived in Canada for at least 10 years since age 18.
But if you live outside Canada, you must meet the same age requirement, be a citizen or resident on the day before you left Canada, and have resided in Canada for 20 years since the age of 18.
And similar to the CPP, OAS payments also went up in January. For eligible Canadians whose net income in 2024 was below $148,451, the maximum monthly payment for those aged 65 to 74 in 2026 is $742.31, up from $727.67.