Federal Support Arrives at a Crucial Time
Canadians feeling the strain of rising living costs will see some relief this week as the government issues key pension payments. Through the Canada Pension Plan (CPP), Old Age Security (OAS), and the Veteran Disability Pension, thousands of households will receive much-needed financial support.
With housing costs up 2.6% and grocery prices up 3.5% since last year, according to Statistics Canada, these payments could not be arriving at a better time. Here’s what to know about each program.
Canada Pension Plan (CPP) — September 25
The CPP is a taxable monthly benefit that replaces part of your income after retirement. To qualify, you need at least one valid CPP contribution and must be 60 or older.
Even if you continue working past 60, your CPP can increase if you keep contributing. The payment amount depends on when you retire, how much you earned during your career, and how long you contributed.
Average new monthly payment: $899.67
Maximum monthly payment: $1,433
Next payment date: October 29
Old Age Security (OAS) — September 25
Unlike CPP, the OAS pension does not require work history. Any Canadian aged 65 or older can qualify, provided their annual net income falls under the threshold.
Ages 65 to 74: up to $734.95 per month (if income under $148,541)
Ages 75 and older: up to $808.45 per month (if income under $154,196)
Next payment date: October 29
This universal program ensures that all seniors receive some financial stability, regardless of past employment.
Veteran Disability Pension — September 26
Eligible veterans and RCMP members may qualify for the Veteran Disability Pension, a tax-free benefit that supports well-being after service.
Who can apply?
Current or former members of the Canadian Armed Forces
Current or former RCMP officers
WWII or Korean War veterans, including Merchant Navy and eligible civilians
Applicants must have a diagnosed condition tied to their service. Payments can be taken as a lifetime monthly benefit or as a lump sum for pain and suffering.
Monthly range: $69.60 to $1,391.98
Next payment date: October 30
What Canadians Should Do Next
If you qualify for any of these programs, check your eligibility and ensure your information with Service Canada is current. With costs still climbing, every bit of support helps.
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