In 2025, the Canada Revenue Agency (CRA) continues to enhance retirement support for Canadian seniors through the Canada Pension Plan (CPP).
Eligible individuals can receive monthly payments up to $1,650, depending on their age at retirement and contribution history.
Understanding CPP Retirement Benefits
The Canada Pension Plan provides monthly payments to individuals who have contributed during their working years. The amount received depends on the age at which one begins their pension and the total contributions made.
Benefit Amounts Based on Retirement Age
Delaying the commencement of Canada Pension Plan benefits increases the monthly payment. Below is a breakdown of the maximum monthly payments based on retirement age:
| Retirement Age | Percentage of Maximum Benefit | Monthly Payment | Annual Payment |
|---|---|---|---|
| 65 | 100% | $1,433 | $17,196 |
| 66 | 108.4% | $1,553.37 | $18,640.46 |
| 67 | 116.8% | $1,673.74 | $20,084.93 |
| 68 | 125.2% | $1,794.12 | $21,529.39 |
| 69 | 133.6% | $1,914.49 | $22,973.86 |
| 70 | 142% | $2,034.86 | $24,418.32 |
Note: The $1,650 benefit is available to those who start their pension at age 67.
2025 CPP Payment Schedule
Canada Pension Plan payments are issued monthly. For 2025, the payment dates are as follows:
| Month | Payment Date |
|---|---|
| January | 29 |
| February | 26 |
| March | 27 |
| April | 28 |
| May | 28 |
| June | 26 |
| July | 29 |
| August | 27 |
| September | 25 |
| October | 29 |
| November | 26 |
| December | 22 |
Eligibility Criteria for CPP Benefits
To qualify for CPP retirement benefits, individuals must:
- Be at least 60 years old.
- Have made at least one valid Canada Pension Plan contribution during their working years.
- Be a Canadian resident or a former resident who contributed while working in Canada.
Applying for CPP Benefits
It’s recommended to apply for CPP benefits six months before the desired start date to ensure timely processing.Applications can be submitted online through the My Service Canada Account, by mail, or at a Service Canada Centre.
Additional Considerations
- Old Age Security (OAS): In addition to Canada Pension Plan, seniors may be eligible for OAS, which provides a monthly payment to those aged 65 and older. The maximum monthly OAS payment for individuals aged 65 to 74 is $727.67, and for those 75 and older, it’s $800.44.
- Income Tax: Both CPP and OAS payments are considered taxable income. It’s important to plan for taxes when budgeting retirement income.
the $1,650 Canada Pension Plan retirement benefit in 2025 offers Canadian seniors a significant financial boost, especially for those who delay their retirement until age 67.
By understanding the eligibility requirements, payment schedule, and benefit amounts, retirees can make informed decisions to maximize their monthly payments and secure a comfortable retirement.
FAQs
Is the $1,650 CPP payment a one-time bonus?
No, the $1,650 is the maximum monthly Canada Pension Plan payment available to individuals who start their pension at age 67, reflecting the cumulative effect of contributions and delayed retirement.
Will every CPP recipient receive $1,650 monthly?
No, the actual amount depends on individual contribution history and the age at which benefits are initiated.
Can I receive CPP if I have only worked part-time?
Yes, but the monthly benefit will be proportionally lower based on total contributions made during your working years.