Eligible Canadians can expect to get a boost in their first Canada Pension Plan (CPP) and Old Age Security (OAS) payment next week.
The CPP is a monthly, taxable government benefit that replaces part of eligible Canadians’ income when they retire and is a payment they receive for the rest of their lives.
To get money from the government, you must have made at least one valid contribution to the CPP and be at least 60 years old.
Canadians will receive their full pension even if they’re under 70 and still working; contributing to the CPP post-retirement benefit can increase their pension.
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The maximum monthly CPP payment you can receive at age 65 has increased from $1,433 to $1,507.65 starting January 2026.
New beneficiaries aged 65 can get an average monthly CPP payment of $803.76 as of October 2025. That’s an almost $100 decrease from the average monthly payment of $899.67 in October 2024.
Those who are eligible can expect to get their CPP payment on Wednesday, Jan. 28.
Canadians aged 65 and older can also qualify for the OAS pension regardless of their work history.
Those living in Canada can qualify for this benefit if they’re 65 and older, a citizen or resident when their pension application is approved, and have resided in Canada for at least 10 years since age 18.
However, if you’re living outside Canada, you must meet the same age requirement, be a citizen or resident on the day before you left Canada, and have resided in Canada for 20 years since the age of 18.
Similarly to the CPP, the OAS payment you can get from the government has also increased. The maximum monthly amount for those aged 65 to 74 is $742.31 (up from $727.67) in 2026 if their annual net income in 2024 was less than $148,451.
The maximum monthly amount for those 75 and older is $816.54 (up from $800.44) in 2026 if their annual net income in 2024 was less than $154,196.
Check out all of the government benefit payments you could get in February.
