Canadians are set to receive several government benefit payments this week. Significant deposits from the Canada Pension Plan (CPP) and Old Age Security (OAS) will occur on Tuesday, April 28.
Canada Pension Plan (CPP) Benefits
The CPP offers a monthly, taxable income replacement for eligible retirees. To qualify, individuals must have made at least one valid contribution to the CPP and be 60 years or older. Notably, beneficiaries under 70 can still receive their full pension even if they continue to work.
In January 2026, the maximum monthly CPP payment will increase from $1,433 to $1,507.65. As for new beneficiaries aged 65, the average monthly CPP payment is projected to be $803.76 by October 2025, a decline from the average of $899.67 in October 2024.
Old Age Security (OAS) Benefits
Canadians aged 65 and older can also qualify for the OAS pension, irrespective of their work history. To be eligible while living in Canada, individuals must be citizens or residents when their application is approved and have resided in Canada for at least 10 years after age 18.
For Canadians living abroad, the eligibility criteria include being a citizen or resident prior to leaving Canada and having resided in the country for 20 years since age 18.
OAS Payment Increases in 2026
The OAS payments will also see a rise in January. The maximum monthly amount for individuals aged 65 to 74 will increase to $742.31 (up from $727.67) for those with an annual net income below $148,451 in 2024. Conversely, those aged 75 and older will receive a maximum monthly amount of $816.54 (up from $800.44) if their annual net income does not exceed $154,196 in 2024.
Conclusion
As the month ends, many Canadians can look forward to various government benefit payments in May. It is essential for eligible individuals to stay informed about these financial supports.
