Let’s be real—retirement isn’t always the carefree dream we imagine. Between rising grocery bills, unpredictable housing costs, and healthcare expenses, it’s easy to feel squeezed. If you’re retired (or close to it), you might be wondering: How will I make ends meet? $1,364 Monthly Pension in Canada
Good news: Canada’s federal government has increased CPP and OAS payments for 2025. For seniors 75+, the maximum combined benefit is now $2,233.44 per month—that’s over $26,800 a year just from federal programs. Whether you’re already collecting or still planning, here’s how to get every dollar you’re owed.
2025 Retirement Benefits at a Glance
- Max CPP (Age 65): $1,433/month
- Average CPP: $808.14/month
- Max OAS (75+): $800.44/month
- Next Payment Date: May 28, 2025
Canada Pension Plan (CPP): What You Need to Know
Your CPP payout depends on how much you contributed during your working years. The more you paid in, the more you’ll get back.
Key Details:
- Start Early (Age 60): Your benefit drops by 0.6% each month (up to 36% less).
- Delay Until 70: Your monthly payment jumps by 42%—worth it if you can wait.
- Still Working? If you take CPP before 65, you must keep contributing. After 65, it’s optional but boosts your future payouts.
Old Age Security (OAS): No Work Required
- Unlike CPP, OAS isn’t tied to your work history—it’s based on age and residency.
- 2025 Rates:
- Ages 65–74: $727.67/month
- Ages 75+: $800.44/month
Old Age Security Eligibility:
- Lived in Canada for 10+ years after age 18 (40 years for full benefits).
- Payments adjust quarterly for inflation.
How to Maximize Your Benefits
- Delay CPP/OAS – Waiting until 70 could mean 42% more CPP and extra OAS.
- Apply for GIS – Low-income? The Guaranteed Income Supplement adds up to $1,065/month.
- Share Pensions – Splitting CPP with a spouse could lower your taxes.
- Check Your Records – Log into My Service Canada Account to fix any contribution gaps.
Real-Life Example: Helen’s Retirement Income
- Helen, 70, worked full-time for 30 years. Here’s her monthly breakdown:
- CPP: $970
- OAS: $800.44
- GIS: Extra $300 (varies by income)
- Total: $2,070.44/month
FAQs
Can I get both CPP and OAS?
Yes! If you qualify for both, they stack.
What’s the max CPP at age 65 in 2025?
$1,433/month—but most people receive less.
$1,433/month—but most people receive less.
Monthly. Next date: May 28, 2025.
Will OAS go up in 2025?
Yes—it’s adjusted quarterly for inflation.