Millions of eligible Canadians will receive their next Canada Pension Plan (CPP) and Old Age Security (OAS) benefit payments on Wednesday, July 29, 2026.
The incoming deposit marks the seventh scheduled payment cycle of the year for federal retirement and benefit programs.
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The scheduled July 29 disbursement includes retirement pensions, disability benefits, survivor pensions, and children's benefits managed by Service Canada.
Monthly payment amounts for the CPP remain unchanged from June, following the standard 2.0 percent annual cost-of-living adjustment that took effect in January 2026.
CPP and OAS Payment Amounts
For the Canada Pension Plan, new beneficiaries starting their retirement pension at age 65 receive an average of $877.01 per month.
The maximum monthly payout stands at $1,507.65.
Reaching the maximum requires approximately 39 years of maximum contributions toward the annual earnings ceiling.
Old Age Security payouts for senior citizens aged 65 to 74 reach up to $751.97 per month in 2026.
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This applies provided their annual net world income in 2025 was below $152,062.
For recipients aged 75 and older, the maximum monthly OAS payment increases to $827.17. Those with an annual income under $157,923 qualify for this amount.
To qualify for OAS while residing in Canada, individuals must be at least 65 years old.
They must also hold Canadian citizenship or legal residency upon application approval and have lived in the country for at least 10 years after turning 18.
Non-resident Canadians require a minimum 20-year residence history since age 18 to qualify.
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Following the July distribution, the next federal pension deposit is scheduled to land in bank accounts on August 27, 2026.
