Canada CPP and OAS payments October 28: Pension set to rise by $40.71 a month in 2027. How much would you get?

The citizens of Canada should keep an eye on their bank accounts as a few government benefit payments are scheduled to be deposited starting from October 28. Eligible Canadians are set to receive their next Canada Pension Plan and Old Age Security payments later this month as the federal government continues its regular benefit schedule. The October 28 disbursement also covers Guaranteed Income Supplement recipients, with payment amounts varying by age, income and contribution history.

ALSO READ: Why are Android phones showing Google Play system update dated January 2027? What Pixel, Vivo and other users need to know

Do you qualify for Canada Pension plan?

The CPP is a monthly, taxable benefit that replaces part of eligible Canadians’ income upon retirement and is paid for the rest of their lives. According to the rules, you can start receiving CPP at age 60: You must have made at least one valid contribution to the Canada Pension Plan through work in Canada, or received eligible pension credits from a former spouse or common-law partner. You can continue working even after you start receiving CPP retirement benefits. If you are under 70 and continue working while receiving CPP, you may qualify for additional payments called Post-Retirement Benefits (PRBs).


ALSO READ:Ethan Klein cheating: Who is Tamara Joseph and how did she meet the American-Israeli YouTuber? Here's what Hila Klein said

The amount you’ll receive on Oct. 28 depends on your age when you started receiving your pension, the amount you contributed to the CPP, and how much you earned throughout your working life. If you’re a new beneficiary at age 65, you can expect to receive anywhere between $858.34 to $1,507.65 this month.

Canada pension plan 2027 increase

CPP payments are expected to rise about 2.7% in January 2027, lifting the maximum at 65 from $1,507.65 to about $1,548.36 a month. At that rate, the maximum retirement pension at 65 would go from $1,507.65 a month to about $1,548.36, an increase of $40.71 a month. The estimate comes from Jason Yee, principal financial analyst at Finepoint Solutions Inc. in Saskatoon, as reported by The Globe and Mail on October 23, 2026. He had been forecasting 2.6% and raised it to 2.7% after Statistics Canada reported September inflation of 3.1% year over year. For comparison, CPP rose 2.0% in January 2026.

ALSO READ: ‘Ban all Muslims from entering Poland...’: Trump-linked politician Dominik Tarczyński tells Piers Morgan, says Islam ‘not compatible with Western values’

CPP amounts in 2026 and the estimated 2027 increase

CPP benefit (monthly)	2026 amount (official)	2027 estimate (+2.7%)	Monthly increase
Retirement pension at 65 (maximum)	$1,507.65	$1,548.36	+$40.71
Retirement pension at 65 (average for new beneficiaries)	$858.34	$881.52	+$23.18
Post-retirement benefit (maximum)	$54.69	$56.17	+$1.48
Survivor's pension under 65 (maximum)	$803.54	$825.24	+$21.70
Survivor's pension at 65 and over (maximum)	$904.59	$929.01	+$24.42
Disability pension (maximum)	$1,741.20	$1,788.21	+$47.01
Death benefit (one-time payment)	$2,500	$2,500	No increase

What about the Old Age Security pension in Canada?

Canadians who are 65 years and older are eligible for the Old Age Security (OAS) pension also coming October 28. In order to apply for the benefit, you must meet several requirements. One among them is that you should be a Canadian resident for at least 10 years after the age of 18. If you live abroad, you need to have lived in Canada for at least 20 years since you turned 18.

The money you receive for Old Age Security pension depends on your age, income, and the length of time you have lived in Canada since you turned 18. Seniors 75 and older receive an additional 10 percent in benefits.

The payment amounts get reviewed by the government every three months. On Oct. 28, the payment turns out to be $762.50 for those aged 65 to 74, and if you’re 75 and older, you could get up to $838.75.

Veteran Disability pension

Some Canadians may also qualify for the Veteran Disability Pension, a tax-free benefit designed to support veterans and eligible individuals with service-related disabilities.

To qualify, you must belong to one of the following groups:

- Current or former members of the Canadian Armed Forces.

- Current or former members of the Royal Canadian Mounted Police (RCMP).

- Second World War or Korean War veterans, including Merchant Navy veterans, or eligible civilians who served during the Second World War.

Applicants must also have a diagnosed medical condition or disability and demonstrate that it is related to their service.

Eligible recipients may receive a monthly benefit for life, with the amount depending on factors such as the number of dependents, or a lump-sum payment through pain and suffering compensation. Monthly disability pension payments, including the upcoming October 29 payment, range from $70.99 to $1,419.82, depending on the recipient’s circumstances and eligibility.