Seniors across Canada may qualify for up to $3,716 per month in retirement income through a combination of Old Age Security (OAS), Canada Pension Plan (CPP), and the Guaranteed Income Supplement (GIS).
If you’re planning for retirement or already receiving benefits, this guide breaks down how to maximize your pension, check eligibility, and know when payments will arrive.
What Is the $3,716 Monthly Pension?
The $3,716 monthly pension is not a single increase but the potential combined total from these three government programs:
- Old Age Security (OAS)
- Canada Pension Plan (CPP)
- Guaranteed Income Supplement (GIS)
When eligible seniors receive the maximum amount from each program, the total can reach or exceed $3,716 per month. Let’s dive deeper into how each program contributes to this total.
Breakdown of Monthly Pension Amounts in 2025
| Pension Program | Maximum Monthly Payment |
|---|---|
| Old Age Security (OAS) | $727.67 (ages 65-74) / $800.44 (75+) |
| Canada Pension Plan (CPP) | Up to $1,364.60 |
| Guaranteed Income Supplement (GIS) | Up to $1,086.88 |
| Total Possible Income | Up to $3,716.00 |
Your exact amount depends on your work history, contributions, and income level. Let’s break down each benefit to see how you can maximize your payments.
Old Age Security (OAS)
The Old Age Security pension provides a basic income to most seniors aged 65 and over.
Key Features
- Eligibility: Canadian citizen or legal resident who has lived in Canada for 10 years or more after age 18.
- Payment Amount:
- Ages 65-74: Up to $727.67 per month.
- Ages 75+: Up to $800.44 per month.
- Clawback Threshold: Benefits reduce if your annual income exceeds $86,912.
- Deferral Bonus: Increase your payment by 0.6% for each month you delay claiming (up to 5 years).
How to Maximize OAS
- Consider deferring your OAS for a higher monthly amount if you don’t need the money right away.
- Keep your income below the clawback threshold to avoid benefit reduction.
Canada Pension Plan (CPP)
The CPP provides retirement, disability, and survivor benefits based on how much you’ve contributed during your working years.
Key Features
- Eligibility: Must have made at least one valid contribution.
- Payment Amount:
- Average monthly benefit: $811.21.
- Maximum monthly benefit: $1,364.60.
- Deferral Increase: Gain 8.4% more for every year you delay claiming after 65 (up to 70).
Example
- If you’re eligible for $1,000 per month at 65, delaying until 70 can boost it to $1,420 per month.
How to Maximize CPP
- Work longer to increase your contribution history.
- Consider delaying your claim to maximize benefits.
Guaranteed Income Supplement (GIS)
The GIS is a non-taxable benefit for low-income seniors who receive OAS.
Key Features
- Eligibility: Low-income seniors receiving OAS.
- Payment Amount: Up to $1,086.88 per month for single seniors.
- Income Thresholds: Payments decrease as your income rises, so careful tax planning can help.
How to Maximize GIS
- Keep taxable income low by managing RRSP withdrawals and other sources of income.
- Apply promptly to avoid missing payments.
How to Apply for Canadian Pensions
Step 1: Check Eligibility
- Review requirements for OAS, CPP, and GIS on the Government of Canada website.
Step 2: Gather Documents
- Social Insurance Number (SIN).
- Proof of residency (e.g., utility bills, rental agreements).
- Income and tax documents for GIS.
Step 3: Apply Online or by Mail
- Online: Use your My Service Canada Account.
- By Mail: Download and print the forms from the government website.
Step 4: Track Your Application
- Check the status via your My Service Canada Account.
- Processing typically takes 6 to 8 weeks.
Step 5: Plan for Taxes
- OAS and CPP are taxable.
- GIS is not taxable.
- Consider speaking with a financial advisor to optimize your retirement income.
2025 Payment Schedule
Pension payments are typically made on the last three business days of the month.
| Month | Payment Date |
|---|---|
| January | January 29, 2025 |
| February | February 26, 2025 |
| March | March 27, 2025 |
| April | April 28, 2025 |
| May | May 28, 2025 |
| June | June 26, 2025 |
| July | July 29, 2025 |
| August | August 27, 2025 |
| September | September 25, 2025 |
| October | October 29, 2025 |
| November | November 26, 2025 |
| December | December 22, 2025 |
Maximize Your Retirement Income
To get the most from your pension:
- Plan early and keep contributing to CPP.
- Consider deferring benefits to increase monthly payments.
- Manage other income sources to stay below clawback thresholds.
- Reach out to a financial advisor for personalized strategies.
With the right approach, you can secure a comfortable retirement income and enjoy your golden years without financial stress.
FAQs
Who qualifies for the $3,716 pension?
Seniors receiving OAS, CPP, and GIS with maximum eligibility.
How much is the maximum CPP payment in 2025?
Up to $1,364.60 per month.
Is GIS income taxable?
No, GIS is a non-taxable benefit.
Can I increase my OAS payments?
Yes, by deferring your claim up to five years for higher monthly amounts.
When are pension payments made in 2025?
On the last three business days of each month.
