Canada Pension Plan (CPP) and Old Age Security (OAS) payments coming this week: Check date, how much Canadians can receive, eligibility rules and who qualifies for the 2026 government benefits

Canadians receiving federal retirement benefits should keep an eye on their bank accounts this week, as the next Canada Pension Plan (CPP) and Old Age Security (OAS) payments are scheduled to arrive on Thursday, August 27, 2026.

The two government benefits provide monthly income to eligible seniors and retirees, although the amount a person receives can vary significantly depending on their circumstances. CPP is largely based on a person's contributions and earnings during their working years, while OAS eligibility is primarily tied to age, residency and income.

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For Canadians relying on these payments as part of their retirement income, understanding the August 2026 CPP and OAS payment date, maximum amounts and eligibility requirements can help them plan their finances.

When will the next CPP and OAS payments arrive?

The next scheduled CPP and OAS payment date is August 27, 2026.

Eligible recipients can expect their payments to be deposited into their bank accounts on that date if they are enrolled for direct deposit. The payments are issued monthly, meaning CPP and OAS recipients generally receive their benefits according to the federal government's payment schedule.

The amount deposited will depend on the benefit and the recipient's individual circumstances.

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How much can Canadians receive through CPP?

The Canada Pension Plan (CPP) is a monthly, taxable retirement benefit designed to replace part of a person's income after they stop working.

To receive CPP, you must have made at least one valid contribution to the CPP and be at least 60 years old.

The amount of CPP a person receives isn't the same for everyone. It depends on several factors, including when they began collecting CPP, how much they contributed, their earnings during their working years and how long they contributed to the plan.

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According to the figures provided for 2026, new CPP beneficiaries aged 65 receive an average monthly payment of $877.01. The maximum monthly CPP payment at age 65 is $1,507.65.

That maximum, however, does not mean every eligible Canadian will receive $1,507.65. A person's contribution history and other factors determine their actual monthly pension.

Can you work while receiving CPP?

Canadians don't necessarily have to stop working when they begin receiving CPP.

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A person can continue working while receiving their full CPP pension as long as they are under 70 years old. In addition, someone who continues making CPP contributions after beginning their pension may be able to increase their retirement benefit.

This can be particularly relevant for Canadians who choose to remain in the workforce after starting their CPP payments.

Who is eligible for Old Age Security?

Unlike CPP, Old Age Security (OAS) isn't based on a person's employment history or CPP contribution record.

Canadians may qualify for OAS once they reach 65 years of age, provided they meet the government's residency and citizenship or legal-residency requirements.

If you live in Canada, you can qualify if you are 65 or older and are a Canadian citizen or legal resident when your OAS application is approved. You must also have lived in Canada for at least 10 years since turning 18.

People who live outside Canada can also qualify, but different residency conditions apply. They must meet the age requirement, have been a Canadian citizen or resident on the day before leaving Canada and have lived in Canada for at least 20 years since turning 18.

How much can Canadians receive from OAS in 2026?

OAS payments are reviewed every quarter, so the maximum amount can change depending on the period.

For 2026, Canadians aged 65 to 74 can receive up to $751.97 per month if their annual net income in 2025 was below $152,062.

For Canadians aged 75 and older, the maximum monthly OAS payment is $827.17, provided their annual net world income in 2025 was below $157,923.

The actual amount a recipient receives can be lower depending on their income and individual circumstances.

What should Canadians expect on August 27?

Eligible Canadians receiving CPP and OAS should see their August 2026 government benefit payments on Thursday, August 27.

However, the amount deposited will vary from one recipient to another. CPP recipients should look at their contribution history and the age at which they started their pension, while OAS recipients should consider their age, residency and income.

For Canadians budgeting around these monthly payments, knowing both the payment date and the maximum benefit amounts can make it easier to plan upcoming expenses.