For many senior Canadians, the Canada Pension Plan (CPP) and Old Age Security (OAS) payments are critical parts of their monthly income. Knowing when these payments will arrive can help them plan and manage their budgets more effectively.
In this blog post, I’ll provide a complete list of CPP and OAS payment dates for the year.
January Payment
The first payment of the year arrives on January 29. This payment covers benefits for the month of January. If you’re newly eligible for CPP or OAS, your first payment might be larger as it could include back payments. Remember to check your bank account or mailbox, depending on how you receive your benefits.
February Payment
February’s payment is scheduled for February 27. This payment includes any adjustments for the new year, such as cost of living increases. If you’ve recently turned 65, you might start receiving OAS with this payment. Keep in mind that February is a shorter month, so the payment comes slightly earlier than in other months.
March Payment
March benefits are paid on March 26. This payment marks the end of the first quarter of the year. If you’ve applied for CPP or OAS recently, your application might be processed in time for this payment. Always ensure your personal information is up to date with Service Canada to avoid any delays.
April Payment
The April payment arrives on April 26. This payment might include tax adjustments if you owe money on your benefits from the previous year. If you’ve chosen to have taxes deducted from your payments, the amount might be slightly different. April is also a good time to review your annual tax return and how your benefits affect your overall income.
May Payment
May’s benefits are paid on May 29. This payment comes near the end of the month, like most CPP and OAS payments. You might receive your first payment if you’re turning 60 this month and have applied for early CPP. Remember that taking CPP early results in a permanent reduction in your monthly amount.
June Payment
The June payment is scheduled for June 26. This payment marks the halfway point of the year. If you’re about to turn 65, it’s an excellent time to ensure you’ve applied for OAS if you haven’t already. June is also when many retirees start planning their summer activities, so this payment can help with those expenses.
July Payment
July benefits are paid on July 29. This payment might include a cost of living adjustment for OAS recipients. The government reviews OAS amounts quarterly, and July is one of the months when changes might occur. If there’s an increase, you’ll see it reflected in this payment.
August Payment
The August payment arrives on August 28. This is typically a quieter month for benefit changes. However, if your situation has changed, such as moving or changing banks, make sure Service Canada has your updated information to ensure smooth payment. August is a good time to review your financial plans for the rest of the year.
September Payment
September’s payment is scheduled for September 25. This payment marks the beginning of the last quarter of the year. If you’re approaching 70 and haven’t started your CPP yet, remember that 70 is the latest to start receiving payments. September is a good time to start planning for any year-end financial decisions.
October Payment
October benefits are paid on October 29. This payment might include another quarterly adjustment for OAS recipients.
November Payment
The November payment arrives on November 27. As the year winds down, this is a good time to review your total benefits received and plan for the upcoming year. If you’re considering any changes to your CPP or OAS for the next year, November is an excellent time to contact Service Canada.
December Payment
December’s payment is scheduled for December 20, earlier than usual due to the holiday season. This final payment of the year ensures you have funds for the holiday period. December is also when many people receive their CPP Statement of Contributions, which can help in planning for the future.
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