CPP and OAS payments due Aug. 27

Eligible Canadians are scheduled to receive Canada Pension Plan and Old Age Security payments on Thursday, Aug. 27.

The Canada Pension Plan is a taxable monthly benefit intended to replace part of a recipient’s income in retirement. To qualify, a person must be at least 60 and have made at least one valid CPP contribution. People under 70 can keep working while receiving their full CPP pension, and further contributions may increase their benefit.

For 2026, a new CPP beneficiary aged 65 receives an average of $877.01 per month, while the maximum monthly payment at age 65 is $1,507.65. The actual payment depends on when a person starts their pension, their contributions, earnings and contribution period.

Old Age Security eligibility is not tied to work history. People living in Canada generally must be 65 or older, be a Canadian citizen or legal resident when their application is approved, and have lived in Canada for at least 10 years after age 18.

OAS amounts are reviewed quarterly. Canadians aged 65 to 74 can receive up to $751.97 a month in 2026 if their 2025 annual net income was below $152,062. Those 75 and older can receive up to $827.17 if their 2025 annual net world income was below $157,923.