Canadian seniors and retirees planning their 2026 budgets can breathe easier knowing precisely when their government pension payments will arrive. In January 2026, beneficiaries of the Canada Pension Plan (CPP) and Old Age Security (OAS) will receive their monthly disbursements on schedule, with updated amounts that reflect the latest cost-of-living adjustments. These payments are essential lifelines for millions of Canadians, helping to cover everything from rent and groceries to utilities and medical supplies. Understanding the new amounts, payment dates, and eligibility rules is crucial to maximizing your retirement income in the year ahead.
For many older Canadians, CPP and OAS form the bedrock of post-retirement income. As inflation and living costs continue to fluctuate, the government has once again adjusted these pensions to better align with economic realities. These updates are especially impactful for fixed-income seniors watching every dollar. Below, we break down the new payment details, who qualifies, and how to make sure you receive what you’re entitled to in January 2026.
Key details at a glance
| Program | Payment Date (January 2026) | Maximum Monthly Amount | Eligibility Age |
|---|---|---|---|
| Canada Pension Plan (CPP) | January 29, 2026 | $1,364.60 | 60 and older (with reductions under 65) |
| Old Age Security (OAS) | January 29, 2026 | $784.67 (ages 65–74), $864.25 (75+) |
65 and older |
What changed this year
Each January, the federal government applies **indexation adjustments** to public pensions like CPP and OAS. For 2026, the new benefit amounts reflect the ongoing adjustments for inflation using the Consumer Price Index (CPI) as the guiding measure. The cost-of-living increase ensures these programs maintain their purchasing power even during periods of economic uncertainty.
In January 2026, CPP recipients will see their payments reflect an annual increase based on inflation metrics from the previous year. Similarly, the Old Age Security payments have climbed, with those aged 75 and older continuing to receive a higher benefit—an initiative first introduced in 2022 to support longer-living seniors who face increased costs in late retirement.
Who qualifies and why it matters
Both **CPP and OAS eligibility** requirements remain unchanged in 2026, but understanding these criteria ensures you don’t miss out on essential income support:
- CPP: To qualify, you must be at least 60 years old and have made at least one valid contribution to the CPP during your working years. While you can begin collecting as early as 60, doing so before 65 results in a permanent monthly reduction—up to 36% if taken at 60.
- OAS: Available to Canadians 65 or older who have lived in Canada for at least 10 years after age 18. Full OAS benefits typically require 40 years of residency, but partial payments are available with less time.
Many Canadians mistakenly believe they are automatically enrolled, but that’s only partially true. **OAS is automatically enrolled for some**, yet in many cases individuals must apply manually, especially if applying from outside Canada or if CRA lacks accurate records. CPP must always be applied for either online through My Service Canada Account or by mailing in a physical application.
When to expect your January 2026 payment
Expect your **January 2026 CPP and OAS payments** to be directly deposited or mailed on **Thursday, January 29, 2026**. The government maintains consistency in ensuring payments are delivered on the third-to-last business day of each month. For recipients with direct deposit, the funds typically arrive before noon, depending on your financial institution.
Those receiving mailed checks should account for postal delays and consider switching to direct deposit for faster and more secure access. Direct deposit also ensures your funds will be available even if you’re traveling or in a long-term care home.
How much you’ll receive in 2026
The maximum amounts for both programs have increased. However, it’s important to note that **most Canadians do not receive the maximum** benefit, as amounts are based on your earnings/contributions (CPP) or residency history (OAS).
- CPP (Maximum – Jan 2026): $1,364.60/month
- OAS (Ages 65–74): $784.67/month
- OAS (Ages 75+): $864.25/month
In practical terms, the **average monthly CPP payment in late 2025** was approximately $758.32, meaning most Canadians receive just over half the maximum. Your amount depends on how much and how long you contributed.
“These incremental increases may seem modest, but to seniors on fixed incomes, even a $20 or $30 bump provides meaningful relief in covering rising costs for essentials.”
— Jennifer Lau, Certified Financial Planner
Winners and losers from the 2026 updates
| Group | Impact |
|---|---|
| Seniors aged 75 and over | Winners – Higher OAS top-up continues into 2026 |
| Recent CPP contributors with high earnings | Winners – Higher pension payout due to stronger contribution record |
| Low-income seniors in urban areas | Losers – Inflation-adjusted increases may still fall short of rising urban costs |
| New retirees with incomplete CPP history | Losers – Smaller monthly payments unless supplemented by GIS or other benefits |
How to apply step-by-step
If you’re turning 60 or 65 in 2026, early application ensures you don’t miss out on timely payments. Here’s how to apply for each benefit:
Applying for CPP
- Sign in to your My Service Canada Account.
- Navigate to the CPP retirement pension application.
- Review your contribution history and estimate your benefit using the tool.
- Complete the application and select your desired start date. Remember: the earlier you start, the lower the monthly payment.
Applying for OAS
- Watch for automatic enrollment letter from Service Canada around your 64th birthday.
- If not automatically enrolled, apply online or by mail using form ISP-3550.
- You must apply six months before turning 65 to ensure no delays.
- For those outside Canada, manual application is required regardless of enrollment status.
“Proactive application is key. Delays can lead to missed months of income—and that adds up quickly.”
— Robert Jenkins, Retirement Policy Analyst
Tax considerations for CPP and OAS in 2026
These payments count as **taxable income**, which can impact your overall federal and provincial taxes owed. OAS recipients should also be mindful of the **OAS Clawback** (officially known as the OAS Recovery Tax), which applies if your annual income exceeds the threshold (set at approximately $90,997 in 2025 and likely rising modestly in 2026).
Strategies to minimize clawback include income splitting, contributing to a TFSA instead of RRSP after retirement, or deferring OAS up to age 70 for higher future payouts. Consult a tax professional for tailored advice.
GIS and other supplement programs
If your income is low, you may qualify for the **Guaranteed Income Supplement (GIS)**, a monthly benefit added onto OAS. GIS eligibility is income-tested and must be renewed annually through your tax return.
Additional provincial and federal programs for low-income seniors include housing subsidies, drug coverage, and transit fare reductions. Check with your provincial government to see what supports are available in your region.
“Too many seniors don’t realize that GIS and supplemental programs exist. A simple application could boost your income by hundreds each month.”
— Marissa Chan, Community Outreach Worker
FAQs about CPP and OAS Payments in January 2026
What is the payment date for CPP and OAS in January 2026?
Both pensions will be paid on Thursday, January 29, 2026. Direct deposit recipients can expect to see the amount in their account by midday.
Has the OAS Clawback threshold increased for 2026?
The exact 2026 number is pending announcement, but it’s expected to rise from the 2025 threshold of $90,997. Seniors with higher income should monitor this closely to avoid unexpected reductions.
Can I receive both CPP and OAS at the same time?
Yes, eligible Canadians routinely collect both CPP and OAS payments. These are separate programs with different eligibility criteria, but coordination occurs automatically once you qualify and apply.
What happens if I’m living outside Canada in 2026?
You can still receive OAS and CPP benefits while living abroad, but conditions apply—especially regarding how long you lived in Canada. Be sure to maintain up-to-date banking information with Service Canada for international direct deposits.
Should I delay CPP or OAS for bigger payments?
Delaying your start date can result in significantly higher monthly payments—especially for OAS, which increases by 0.6% for each month deferred past 65. However, the decision depends on your health, income needs, and personal circumstances.