Canada’s pension landscape is undergoing key adjustments in 2025, impacting the income of retirees and soon-to-be pensioners nationwide.
The changes affect major programs, including Old Age Security (OAS), the Canada Pension Plan (CPP), the Guaranteed Income Supplement (GIS), and the Quebec Pension Plan (QPP).
With inflation and cost-of-living pressures at the forefront, the updated benefit rates aim to provide more stability and relief to seniors.
In this article, we’ll explore the latest benefit amounts, eligibility rules, payment timelines, and how these changes could affect your monthly income in retirement.
Summary of 2025 Pension Payment Rates
Here’s a breakdown of the maximum monthly benefits for each of the four major pension programs in 2025:
| Pension Program | Maximum Monthly Payment (2025) |
|---|---|
| Old Age Security (OAS) – Ages 65–74 | $727.67 |
| Old Age Security (OAS) – Ages 75+ | $800.44 |
| Canada Pension Plan (CPP) | $1,433.00 |
| Guaranteed Income Supplement (GIS) – Single | $1,086.88 |
| GIS – With OAS-eligible spouse | $654.23 |
| Quebec Pension Plan (QPP) | $1,433.00 |
Old Age Security (OAS) – 2025 Update
Old Age Security (OAS) is available to most Canadians aged 65 and over. In 2025:
- Ages 65 to 74: $727.67 per month
- Ages 75 and over: $800.44 per month
To qualify, you must:
- Be 65 or older
- Be a Canadian citizen or legal resident
- Have lived in Canada for at least 10 years after age 18
Note that OAS payments are reduced (clawed back) if your annual income exceeds a certain threshold. For 2025, that threshold starts at approximately $93,454.
Canada Pension Plan (CPP) – 2025 Payment Details
The Canada Pension Plan (CPP) is designed to replace part of your earnings after retirement. Benefits are based on your contribution history and age when you start collecting.
- Maximum monthly benefit at age 65: $1,433.00
Key features:
- You can start CPP as early as age 60 with reduced payments
- Or delay until age 70 for increased payments
- Contributions are based on income earned over your working life
Remember, CPP is taxable income, and the actual amount you receive depends on how much you contributed.
Guaranteed Income Supplement (GIS) – 2025 Updates
Guaranteed Income Supplement (GIS) provides extra help to low-income OAS recipients. It’s non-taxable and calculated based on income.
For 2025:
- Single seniors: Up to $1,086.88 monthly (if annual income is below ~$22,056)
- With a spouse receiving OAS: Up to $654.23 monthly (if combined income is below ~$29,136)
GIS is reviewed every year and adjusted quarterly to reflect the cost of living.
Quebec Pension Plan (QPP) – 2025 Highlights
The Quebec Pension Plan (QPP) serves residents of Quebec and operates similarly to the CPP.
- Maximum monthly benefit at age 65: $1,433.00
Eligibility:
- Be at least 60 years old
- Have contributed to QPP during your working years
You can take early retirement (with reductions) or delay to increase your benefits. The payment amounts are identical to CPP in 2025, but application processes are province-specific.
Pension Payment Schedule for 2025
All four programs issue payments monthly. Here’s the expected 2025 payment schedule:
| Month | Payment Date |
|---|---|
| January | 29 |
| February | 26 |
| March | 27 |
| April | 28 |
| May | 28 |
| June | 26 |
| July | 29 |
| August | 27 |
| September | 25 |
| October | 29 |
| November | 26 |
| December | 20–22 (before holidays) |
It’s essential to keep your banking information up to date to avoid delays.
Real-World Example Scenarios
Here’s how the 2025 pension updates may impact monthly income:
Scenario 1: Single Senior with Full Benefits
- CPP: $1,433.00
- OAS: $727.67
- GIS: $1,086.88
Total Monthly Income: $3,247.55
Scenario 2: Senior Couple (Both Eligible)
- CPP (each): $1,000.00
- OAS (each): $727.67
- GIS (each): $654.23
Total Monthly Household Income: $6,763.80
The 2025 updates to OAS, CPP, GIS, and QPP offer stronger financial support for Canadian retirees. With increased maximum payouts, automatic indexing, and clearer thresholds, these changes aim to help seniors maintain their quality of life amid rising costs.
Whether you’re already retired or approaching pension age, understanding how these benefits work and how much you’ll receive is essential to planning your financial future. Stay updated and take full advantage of the support available to you.
FAQs
Can I receive both OAS and CPP together?
Yes, eligible retirees can receive both OAS and CPP at the same time. These are separate programs with different eligibility criteria.
Will these payments affect my taxes?
CPP and OAS are taxable, but GIS is non-taxable. Depending on your total income, you may owe taxes or qualify for tax credits.
How do I apply for these pensions?
You can apply online through your My Service Canada Account or by mailing the application forms before your 65th birthday.