On April 28, 2025, eligible Canadian seniors can expect their monthly payments from the Canada Pension Plan (CPP) and Old Age Security (OAS) programs. These benefits provide essential financial support to retirees and seniors across Canada.
Payment Schedule
Both CPP and OAS payments for April 2025 are scheduled for April 28. Beneficiaries who have set up direct deposit will receive their payments on this date, while those receiving payments by cheque may experience delays due to mail processing times.
CPP and OAS Payment Amounts
The maximum monthly payments for CPP and OAS are determined by age and, in the case of CPP, contributions during employment.
Canada Pension Plan (CPP):
- At Age 65: Up to $1,433 per month.
Old Age Security (OAS):
- Ages 65 to 74: Up to $727.67 per month.
- Ages 75 and over: Up to $800.44 per month.
These amounts are subject to change based on individual circumstances, such as income and residency history.
Eligibility Criteria
- Old Age Security (OAS):
- Must be 65 years or older.
- Must be a Canadian citizen or legal resident.
- Must have resided in Canada for at least 10 years after the age of 18.
- Canada Pension Plan (CPP):
- Must be at least 60 years old.
- Must have made at least one valid CPP contribution during working years.
It’s important to note that OAS payments are considered taxable income and may be subject to a recovery tax if individual net annual income exceeds certain thresholds.
Planning for Payments
To ensure timely receipt of benefits:
- Set Up Direct Deposit: This ensures funds are deposited directly into bank accounts on the payment date.
- Update Personal Information: Regularly update address, banking details, and marital status with Service Canada to prevent payment delays.
- File Tax Returns Promptly: GIS eligibility is recalculated annually based on income tax returns.
- Monitor the My Service Canada Account: Regularly check for updates on payment status and any required actions.
Understanding the details of CPP and OAS payments for April 2025 enables Canadian seniors to effectively plan their finances and maximize available benefits.
FAQs
When will CPP and OAS payments be made in April 2025?
All payments are scheduled for April 28, 2025.
How can I apply for GIS if I’m not enrolled?
Apply online through your My Service Canada Account or by mailing a paper application to Service Canada.
Will OAS payments increase in April 2025?
No, OAS payments will remain unchanged due to minimal Consumer Price Index fluctuations.