Canadians to get govt benefit payments soon
Canadians scheduled to receive their Canada Pension Plan and Old Age Security payments on August 27, 2026 should be aware of the factors that determine their individual payment amounts. The Canada Pension Plan is a monthly retirement benefit that depends on factors such as when a person began collecting CPP, their contributions, earnings and how long they contributed to the plan.
The average monthly payment for new CPP beneficiaries aged 65 in 2026 is $877.01, while the maximum is $1,507.65. Canadians can continue working while receiving CPP as long as they are under 70. Old Age Security payments, on the other hand, are based on residency and citizenship requirements, with the maximum monthly payment for those aged 65 to 74 in 2026 being $751.97, and $827.17 for those aged 75 and older.
Eligible Canadians should prepare for varying payment amounts depending on their specific circumstances.
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