Canadians could get up to $1,507.65 from Canada Pension Plan (CPP) and $827.17 from Old Age Security deposits (OAS) this week: Check payment date, eligibility and more

Canadians receiving federal retirement benefits are set to receive their next Canada Pension Plan (CPP) and Old Age Security deposits (OAS) payments on Thursday, August 27, 2026. The amount deposited will depend on the benefit, age, contribution history, residency and income of each recipient.

For August, the maximum OAS payment is $751.97 per month for people aged 65 to 74 and $827.17 for those aged 75 and older. Meanwhile, the maximum CPP retirement pension for someone starting CPP at age 65 in 2026 is $1,507.65 per month.

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However, most recipients will not receive the maximum amount. CPP is based largely on a person's contribution history and the age at which they begin collecting the pension, while OAS depends mainly on age, residency in Canada and income.

When is the next CPP and OAS payment?

The next CPP and OAS payment date is August 27, 2026, Thursday. The payments are part of the Government of Canada's regular monthly benefit schedule, rather than a one-time bonus or additional payment. Eligible recipients should check their bank accounts around the payment date.

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How much can Canadians get from OAS in August?

The maximum monthly OAS pension for July through September 2026 is:

• Age 65 to 74: up to $751.97
• Age 75 and older: up to $827.17

These are maximum rates, meaning an individual's actual payment can be lower depending on their circumstances.

OAS payments are reviewed quarterly and adjusted based on changes in the cost of living. The higher rate for people aged 75 and older reflects the permanent 10% increase that applies after turning 75.

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Who is eligible for OAS?

OAS is generally available to people aged 65 and older who meet Canada's residency requirements.

Unlike CPP, a person does not need to have worked or contributed to a pension plan to qualify for OAS. Eligibility is primarily determined by age and how long the person has lived in Canada after turning 18, along with income-related rules.

For a full OAS pension, a person generally needs 40 years of residence in Canada after age 18. Someone with fewer qualifying years may receive a partial pension.

How much can Canadians get from CPP?

CPP works differently from OAS. For 2026, the maximum CPP retirement pension at age 65 is $1,507.65 per month for a new pension beginning in January 2026. The published average new CPP retirement pension at age 65 was considerably lower, at $877.01, based on April 2026 data.

The actual amount someone receives depends on factors including:

• How much they contributed to CPP
• How long they contributed
• Their pensionable earnings
• The age they start receiving CPP

This means two people receiving CPP on the same day can receive very different amounts.

Can you receive CPP while still working?

Yes. Canadians can continue working while receiving CPP. People who continue working and are under 70 may continue contributing to CPP, potentially increasing their future retirement benefits through the Post-Retirement Benefit.

The decision to start CPP early or delay it can also significantly affect the monthly payment.

What happens if you delay CPP?

Canadians can start receiving CPP as early as age 60 or delay it until age 70.

Starting before 65 reduces the monthly pension, while delaying CPP beyond 65 increases the payment. A person who waits until 70 can receive a significantly larger monthly pension than someone who starts at 65.

The maximum 2026 CPP figure should therefore not be viewed as a standard payment that every senior will receive.

What about GIS payments?

Some low-income seniors receiving OAS may also qualify for the Guaranteed Income Supplement (GIS).

GIS is income-tested, meaning the amount depends on factors such as income and marital status. The benefit is designed to provide additional financial support to low-income OAS recipients.

The maximum GIS payment for a single, widowed or divorced recipient for the current July-to-September 2026 period is $1,123.17 per month, according to the current benefit rates.

Why your August payment could be different

Not every Canadian receiving CPP or OAS will see the same amount deposited on August 27.

For CPP, the payment depends on individual contribution and retirement details. OAS can vary because of residency history and income, while higher-income recipients may have part of their OAS recovered through the OAS recovery tax.

So, if your payment is lower than the published maximum, that does not necessarily mean there is an error.

Canadians can check their individual benefit information through My Service Canada Account to see their payment details and eligibility information.

What Canadians should know about the August 27 payment

The key date to remember is Thursday, August 27, 2026.

Eligible CPP and OAS recipients can expect their regular monthly payments, with the maximum OAS rates currently set at $751.97 for ages 65 to 74 and $827.17 for those 75 and older. The maximum CPP retirement pension for someone starting at 65 in 2026 is $1,507.65.

The amount actually deposited will depend on each recipient's individual circumstances, so the published maximums should not be mistaken for guaranteed payments.