Retirees across Canada are getting a double payment this month. The Government of Canada lists both the Canada Pension Plan (CPP) and Old Age Security (OAS) as being paid on July 29, 2026 — a reminder that for most seniors, government benefits are one piece of a larger retirement income picture rather than the whole picture.
The Short Answer
CPP and OAS payments both land on July 29, 2026. The maximum CPP retirement pension at age 65 is $1,507.65 per month, while OAS pays up to $751.97 for seniors 65 to 74 and $827.17 for those 75 and older, both subject to income limits.
Two Programs, One Payment Date
CPP and OAS are separate programs that happen to pay out on the same date this month. CPP covers retirement, disability, children’s, and survivor benefits, while the OAS umbrella includes the basic OAS pension, the Guaranteed Income Supplement (GIS), the Allowance, and the Allowance for the Survivor. Because they’re administered separately but often deposited close together, July 29 functions as a larger-than-usual payday for many retirees who receive both.
Canada Pension Plan: How Much You’ll Get
CPP is a monthly, taxable benefit that replaces part of a retiree’s income and continues for life. To qualify, you must have made at least one valid contribution to the CPP and be at least 60 years old.
The amount you receive depends on:
- When you choose to start your pension (as early as 60 or as late as 70)
- How much you contributed over your working life
- Your earnings history
- How long you contributed
As of January 2026, new beneficiaries starting their pension at age 65 receive an average of $925.35 per month. The maximum possible payment at 65 is $1,507.65. You’ll receive your full pension even if you’re under 70 and still working, and continuing to contribute after retirement through the CPP post-retirement benefit can further increase your monthly payment.
Old Age Security: How Much You’ll Get
Unlike CPP, OAS doesn’t require a work history — it’s available to Canadians 65 and older based on residency, though it is income-tested and adjusted quarterly. For the July to September 2026 quarter:
| Age Group | Maximum Monthly OAS | Income Threshold (2025 net income) |
|---|---|---|
| 65 to 74 | $751.97 | Under $152,062 |
| 75 and older | $827.17 | Under $157,923 |
Seniors whose income exceeds these thresholds see their OAS reduced through the OAS recovery tax, commonly known as the clawback.
Guaranteed Income Supplement for Lower-Income Seniors
Seniors with low income may also qualify for the Guaranteed Income Supplement on top of their regular OAS pension. GIS isn’t a flat amount — it’s calculated based on income and marital status, and it decreases as other income rises. Seniors who believe they may qualify shouldn’t assume a set amount; the only reliable way to know is to check eligibility directly through Service Canada.
Two related programs round out the OAS family: the Allowance, for lower-income Canadians aged 60 to 64 whose spouse or common-law partner receives GIS, and the Allowance for the Survivor, for lower-income widowed Canadians in the same age range. Both are designed to bridge the gap for people who aren’t yet old enough for their own OAS pension but face similar financial pressure.
Why CPP and OAS Exist as Two Separate Programs
It’s a common point of confusion for people newer to Canada’s retirement system: CPP and OAS aren’t the same thing, and they aren’t funded the same way. CPP is contributory — you and your employer pay into it throughout your working life, and what you get out is tied to what you put in. OAS, by contrast, is funded from general government revenue and is closer to a universal pension for older residents, adjusted for how long you’ve lived in Canada and, above certain income levels, reduced through the recovery tax. Most retirees end up relying on both, which is part of why a shared payment date like July 29 matters enough to plan around.
Why the July 29 Date Matters
Payment dates for CPP and OAS are set annually by Service Canada and don’t move around from year to year in any surprising way, but for retirees who budget month to month, knowing the exact date — and that both programs are landing together — makes it easier to plan around bills, medication costs, and other recurring expenses that tend to cluster early in a month.
Making Government Benefits Go Further
For most retirees, CPP and OAS together are a foundation rather than a complete retirement income. Essentials like rent, food, medication, and utility bills typically take priority for these payments. Beyond government benefits, many retirees also rely on some combination of personal savings, workplace pensions, part-time income, and investment income to cover the rest of their expenses. The right mix depends heavily on individual circumstances — household size, health costs, housing situation, and risk tolerance all vary — so it’s worth discussing your specific situation with a qualified financial advisor rather than relying on generic guidance.
Frequently Asked Questions
Can I receive both CPP and OAS at the same time?
Yes. They’re separate programs with separate eligibility rules, and many retirees qualify for and receive both.
Do CPP and OAS amounts change every year?
Yes. OAS is adjusted quarterly based on the Consumer Price Index, and CPP amounts for new beneficiaries are adjusted annually. The figures above apply to the July–September 2026 quarter for OAS and January 2026 for CPP.
Is CPP or OAS taxable?
Both are taxable income. Higher-income OAS recipients may also be subject to the OAS recovery tax (clawback), which reduces the benefit above certain income thresholds.
What if my income is too high for OAS?
You may still receive a partial OAS payment depending on how far your income exceeds the threshold, or in some cases none at all. Check your specific situation through Service Canada.
Can I start CPP before or after age 65?
Yes — CPP can start as early as 60 (at a reduced monthly amount) or be delayed as late as 70 (for a higher monthly amount). The $1,507.65 maximum cited above applies specifically to those starting at 65.
Do I need to apply for CPP and OAS, or are they automatic?
Neither is fully automatic. Both generally require an application through Service Canada, ideally submitted several months before you want payments to begin.
