Starting July 29, 2025, eligible seniors across Canada will see significant increases in their monthly retirement income, as the Canada Pension Plan (CPP) and Old Age Security (OAS) benefits rise once again. The new indexed rates bring total combined benefits to up to $2,241.44 per month, with $1,433 from CPP and $808.44 from OAS for those aged 75 and older.
This payment update is part of the government’s ongoing effort to support older Canadians as inflation and living costs continue to rise.
Table of Contents
Breakdown: $1433 + $808.44 CPP & OAS
Canada Pension Plan (CPP) – July 2025
The maximum CPP monthly retirement benefit for new beneficiaries at age 65 is now $1,433.00.
This amount reflects:
- Annual inflation adjustments based on the Consumer Price Index (CPI)
- Lifetime contributions made by the beneficiary
- Years of earnings at or above the Year’s Maximum Pensionable Earnings (YMPE)
Note: Most Canadians do not receive the maximum CPP amount. The average monthly CPP benefit is usually lower depending on an individual’s work and contribution history.
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Old Age Security (OAS) – July 2025
The OAS payment has also increased, with the following maximum amounts now in effect:
- Ages 65 to 74: $713.34 per month
- Ages 75 and older: $808.44 per month (includes a permanent 10% increase announced in 2022)
OAS is automatically indexed quarterly (January, April, July, and October) to match increases in the cost of living.
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Who is Eligible CPP & OAS Payment Boost
To receive CPP benefits:
- You must be at least 60 years old
- You must have made at least one valid contribution to the CPP during your working years
To receive OAS benefits:
- You must be 65 or older
- You must be a legal resident or Canadian citizen
- You must have lived in Canada for at least 10 years since age 18 (to qualify for a partial pension)
- To receive the full OAS, you must have lived in Canada for 40 years after turning 18
New $808.44 OAS Payment Coming in July 2025: Who’s Eligible, How Much You’ll Get, and Key Dates
When Will You Get Paid?
Payment Date for CPP and OAS in July 2025:
📅 Tuesday, July 29, 2025
Both CPP and OAS are typically paid on the same day each month and are directly deposited into your bank account or sent by mail if you receive cheques.
Why This Payment Matters
The combined $1433 + $808.44 CPP & OAS payment offers critical support to seniors facing rising housing, food, and healthcare costs. For many retirees on fixed incomes, these quarterly inflation adjustments help maintain purchasing power and reduce financial stress.
Final Thoughts
If you’re nearing retirement or already receiving benefits, this is the perfect time to:
- Check your “My Service Canada Account (MSCA)” to review your benefit details
- Ensure your direct deposit and mailing address are up to date
- File your taxes annually to continue receiving full benefits without interruption
With these indexed increases effective July 2025, Canada’s seniors will get a much-needed financial boost to help manage everyday expenses. Make sure you’re signed up and ready to receive the new payments this month.