As May 2025 continues, many Canadians are anticipating their monthly retirement benefits. Both the Canada Pension Plan (CPP) and Old Age Security (OAS) payments are key sources of income for seniors and other eligible recipients. This article outlines everything you need to know about the payment dates, how much you might receive, and who qualifies.
Table of Contents
CPP & OAS Payment Date for May 2025
- Canada Pension Plan (CPP): May 28, 2025
- Old Age Security (OAS): May 28, 2025
Both CPP and OAS payments for May 2025 are scheduled to arrive on Wednesday, May 28. Individuals enrolled in direct deposit should see the funds in their accounts on this date. If you receive a cheque, it should arrive by mail on or just before that day.
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CPP and OAS Monthly Payment Amounts
Canada Pension Plan (CPP)
- Maximum monthly payment at age 65 (2025): $1,433.00
- Average monthly payment at age 65 (latest data): $899.67
Actual amounts vary depending on your contribution history, how long and how much you contributed, and the age you started receiving your pension.
Old Age Security (OAS)
- Ages 65 to 74:
- Maximum monthly payment: $727.67
- Income threshold (2023 net world income): less than $142,609
- Ages 75 and over:
- Maximum monthly payment: $800.44
- Income threshold (2023 net world income): less than $148,179
OAS amounts are reviewed and potentially adjusted four times a year — in January, April, July, and October — based on inflation. The current rates apply from April to June 2025.
Eligibility Criteria
CPP Eligibility
To qualify for CPP retirement benefits:
- You must be at least 60 years old.
- You must have made at least one valid CPP contribution (through employment in Canada or receiving credits from a former spouse or partner).
OAS Eligibility
To qualify for OAS:
- You must be 65 years or older.
- You must be a Canadian citizen or legal resident.
- You must have lived in Canada for at least 10 years after age 18.
If you live outside Canada, you may still qualify if you lived in Canada for at least 20 years as an adult.
Additional Benefits
In addition to basic OAS, eligible recipients may receive:
- Guaranteed Income Supplement (GIS): For low-income OAS recipients who live in Canada.
- Allowance: For low-income individuals aged 60–64 whose spouse or common-law partner receives GIS.
- Allowance for the Survivor: For low-income widowed individuals aged 60–64 who have not remarried or entered a new common-law relationship.
Each program has specific income thresholds and eligibility rules.
How to Apply
- CPP: Apply online through your My Service Canada Account or by submitting a paper application.
- OAS: Most people are automatically enrolled. If not, you can apply online or by paper form.
Important Reminders
- Taxable Income: Both CPP and OAS are taxable and must be reported when you file your income tax return.
- Direct Deposit: Signing up ensures faster, more secure payments.
- Keep Records Updated: Always report changes in address, marital status, or income to Service Canada to avoid payment interruptions.
Staying informed about your CPP and OAS benefits helps you manage your retirement income effectively. Make sure to check your eligibility, keep your records current, and mark the May 28 payment date on your calendar.