✅ Introduction:
For Canadians approaching retirement, the government offers two major financial support programs: the Canada Pension Plan (CPP) and Old Age Security (OAS). These provide monthly income to help cover living expenses after retirement, ensuring a stable and secure lifestyle.
In this complete guide, you’ll learn how to qualify, apply, and maximize your retirement income.
✅ Major Canadian Retirement Benefits:
- Canada Pension Plan (CPP)
✔ Monthly taxable pension based on your lifetime earnings and CPP contributions.
✔ As of 2025:
Average monthly CPP: $758.12
Maximum monthly CPP: $1,364.60
👉 Apply here: https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/apply.html
- Old Age Security (OAS)
✔ Monthly payment to seniors aged 65 and older — no prior work required in Canada.
✔ OAS 2025:
Maximum monthly OAS: $713.34 (age 65–74)
Higher for age 75+
👉 Apply here: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/apply.html
- Guaranteed Income Supplement (GIS)
✔ Extra monthly payment for low-income OAS recipients.
✔ Up to $1,065.47/month for singles (2025 rate).
✅ Benefits of Retirement Aid:
✔ Monthly, predictable income
✔ OAS available even without work history (based on residence)
✔ CPP increases the longer you delay past age 65
✔ GIS for very low-income seniors
✅ Who is Eligible?
✔ Canada Pension Plan (CPP):
Must be at least 60 years old
Contributed to CPP at least once
Amount depends on earnings & contributions
✔ Old Age Security (OAS):
Must be 65 years or older
Lived in Canada for 10+ years after age 18
Non-residents may qualify with social security agreements
✔ Guaranteed Income Supplement (GIS):
Low annual income (under $21,624 for singles in 2025)
Must receive OAS
✅ Required Documents:
- Social Insurance Number (SIN)
- Proof of birth date (birth certificate, passport)
- Banking info (for direct deposit)
- Residency history (for OAS)
✅ How to Apply for CPP:
- Apply online via My Service Canada Account: https://www.canada.ca/en/services/benefits/publicpensions/cpp/cpp-benefit/apply.html
- Paper form available on request.
- Submit documents — wait 1–2 months for response.
✅ How to Apply for OAS & GIS:
- OAS automatic enrolment may occur — else apply via My Service Canada.
- Fill OAS/GIS application online: https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/apply.html
- Submit required documents.
✅ Payment Amount Examples (2025):
Benefit Max Monthly Notes
CPP $1,364.60 Delayed to age 70 increases it
OAS $713.34 Increases after age 75
GIS (Single) $1,065.47 Based on income test
❌ Common Mistakes to Avoid:
Applying late (delays payments)
Forgetting to update address/income details
Assuming GIS is automatic — must apply
✅ Tips for Maximum Retirement Income:
✔ Delay CPP to age 70 for 42% higher payment
✔ Apply 6 months before 65th birthday
✔ Check if eligible for international social security agreements
✅ Related Benefits You May Qualify For:
✔ Low income? Get housing aid:
👉 How to Apply for Housing & Utility Support in Canada
✔ Seniors get healthcare perks:
👉 How to Apply for Health & Medical Aid in Canada
✅ Frequently Asked Questions (FAQs):
Q1: Can I work while receiving CPP or OAS?
✔ Yes — but CPP & OAS are taxable.
Q2: Can immigrants qualify for OAS?
✔ Yes — with at least 10 years Canadian residency after age 18.
Q3: What happens if I live outside Canada?
✔ OAS can still be paid — depending on agreements with your country.
✅ Conclusion:
Canada’s retirement system offers reliable income to millions of seniors through CPP and OAS. Applying early and checking eligibility ensures maximum monthly benefits and peace of mind.
👉 Full retirement info: https://www.canada.ca/en/services/benefits/publicpensions.html