Ottawa: Bringing relief amidst the rising cost of living, the next Canada Pension Plan (CPP) payment will arrive in the bank accounts of Canadian citizens across the country on July 29th. This distribution of the Canada Pension Plan includes an increase of 2.7%. Additionally, eligible recipients may receive up to $800 in extra benefits from programs like Old Age Security (OAS) and Guaranteed Income Supplement (GIS).
The Canada Pension Plan is a nationwide social insurance program designed to provide income during retirement and benefits in the event of disability or death. Residents over 65 years of age are eligible for a maximum monthly payment of $1,433.
The next increase in CPP payments will occur in January 2026. The Canada Pension Plan is distributed in all provinces except Quebec, which has its own pension plan. Following July 29th, the remaining CPP payment dates for this year are August 27, September 25, October 29, November 26, and December 22.
