If you’re a Canadian retiree or planning to retire soon, you’ve probably heard about the Canada Pension Plan (CPP) payment of up to $1,433 arriving on June 28, 2025. Whether you’re already receiving benefits or just starting the process, knowing how CPP works can help you make smarter financial decisions for retirement.
In this guide, we’ll walk you through everything from eligibility to payment amounts, how the new CPP enhancements affect your pension, and tips to maximize your income.
Table of Contents
Summary
Here’s a snapshot of the upcoming CPP payment details:
| Topic | Details |
|---|---|
| Payment Date | June 28, 2025 |
| Max Monthly CPP | $1,433.00 (at age 65) |
| Average CPP | $899.67 (as of October 2024) |
| Eligibility Age | 60 years or older |
| Contributions | At least one valid contribution |
| Application Needed | Yes, via My Service Canada Account |
| Taxable | Yes, CPP is taxable income |
| Recommended | Direct deposit to avoid delays |
Canada Pension Plan (CPP)
The CPP is a monthly pension paid to Canadians who contributed to it during their working years. It’s meant to replace part of your employment income in retirement. You pay into CPP if you work in Canada and earn more than a minimum amount, and these contributions directly affect how much you receive.
CPP also includes disability, survivor, and children’s benefits—so it supports you and your family.
A Quick History
The CPP was launched in 1965 to provide income security in retirement. Over time, it has adapted to inflation and life expectancy, and most recently, it was enhanced to increase benefits for future generations.
CPP Enhancements
In 2019, the government began phasing in CPP enhancements to give younger workers higher future benefits.
- Higher contributions now = higher benefits later
- Will cover one-third of pre-retirement income (up from one-quarter)
- Full implementation is expected by 2025
This enhancement is especially helpful for today’s younger workers who will contribute more over their careers.
Who’s Eligible?
To receive this payment, you must:
- Be at least 60 years old
- Have made at least one valid CPP contribution
- Have lived or worked in Canada (or meet rules for overseas contributors)
Quebec residents contribute to the Quebec Pension Plan (QPP), not CPP.
How Much Will You Get?
The maximum CPP monthly payment at age 65 is $1,433.00 in 2025, but most people get less due to:
- Shorter contribution periods
- Lower income during working years
- Starting CPP early
As of October 2024, the average monthly CPP was about $899.67.
When Should You Start CPP?
Choosing when to start affects how much you get:
- Start at 60: Receive 64% of your full amount
- Start at 65: Receive 100%
- Start at 70: Receive 142% of your full amount
Example:
- John starts at 60: $916/month
- Mary delays to 70: $2,035/month (with enhancements)
How to Apply
Online
- Log in to My Service Canada Account
- Complete the application and track your status
By Mail
- Download Form ISP-1000
- Complete and mail it to Service Canada
In Person
- Visit your local Service Canada Centre for help
Apply at least 6 months before you want to start receiving payments.
Why Use Direct Deposit?
Direct deposit is faster, safer, and more reliable than waiting for a paper cheque. Make sure your banking details are up to date in your My Service Canada Account.
What If Your Payment is Late?
- Wait 5 business days after the payment date
- Call Service Canada at 1-800-277-9914
Other CPP Benefits
In addition to retirement pensions, CPP includes:
- CPP Disability Benefit – For contributors who become disabled
- CPP Survivor Benefit – Paid to a spouse or eligible family member
- CPP Death Benefit – One-time payment to the estate
- CPP Children’s Benefit – For children of deceased or disabled contributors
These programs add another layer of security for you and your loved ones.
Real-Life Scenarios
She receives 64% of her max CPP and supplements her income with RRSPs. She planned for a reduced amount and started enjoying retirement early.
Bob Retires at 70
He delayed his CPP to increase his monthly benefit by 42%. With enhanced contributions, he now receives over $2,000 a month from CPP alone.
CPP Payment Schedule
| Month | Payment Date |
|---|---|
| January | 29th |
| February | 26th |
| March | 27th |
| April | 26th |
| May | 28th |
| June | 28th |
| July | 29th |
| August | 27th |
| September | 25th |
| October | 29th |
| November | 26th |
| December | 22nd |
By knowing the CPP system, planning your retirement date wisely, and making the most of available benefits, you can build a secure and steady income in your retirement years. Whether you’re approaching 60 or already retired, staying informed ensures you don’t leave money on the table.
FAQs
When is the CPP payment in June?
The next CPP payment is on June 28, 2025.
Is CPP taxable income?
Yes, CPP payments are fully taxable.
Can I get CPP if I live outside Canada?
Yes, if you’ve contributed, you may still qualify.
What’s the CPP max in 2025?
The maximum monthly CPP is $1,433 at age 65.
Do I have to apply for CPP?
Yes, CPP is not automatic—you must apply.
