In Canada, most seniors are eligible for Old Age Security (OAS), the Canada Pension Plan (CPP), and the Guaranteed Income Supplement (GIS). The payments are set to change in February of 2025 and are expected to benefit many millions of retirees. We’ll tell you all these monthly amounts, which of them you might be eligible for, and how to get the biggest payments you can by the end of this article.
OAS, CPP, and GIS Payments in Canada for February 2025
In February 2025, the Canadian government will be dispersing the following payments to seniors:
| Benefit Program | Maximum Monthly Payment (February 2025) | Eligibility Criteria | Payment Date |
|---|---|---|---|
| Old Age Security (OAS) | Up to $800.44 | – Must be 65 years or older – Canadian citizen or permanent resident – Lived in Canada for at least 10 years after the age of 18 | February 26, 2025 |
| Canada Pension Plan (CPP) | Varies based on contributions | – Must be 60 years or older – Made CPP contributions during working years – Amount depends on earnings and contributions | February 26, 2025 |
| Guaranteed Income Supplement (GIS) | Up to $1,086.88 | – Must be receiving OAS – Annual income below government-set limit (less than $22,056 for single individuals) | February 26, 2025 |
Make sure you activate your My Service Canada Account if you’re eligible for these payments so that you receive payment on time.
What is Old Age Security (OAS)?
Old Age Security is an age-based pension scheme in accordance with which the eligible person must have been a Canadian resident. The OAS is a lifelong benefit, and its payment starts at 65 years of age. Under this scheme, the recipient must have lived in Canada for a minimum of 10 years to qualify.
OAS payment amount in February 2025
- For seniors aged 65 to 74 – $727.67 per month
- For seniors aged 75 or older – $800.44 per month
OAS “clawback” rules
If your annual income is more than $148,451 (65-74 years) and $154,196 (75+ years), OAS can be deducted. To avoid this, use income management strategies.
If you choose to take OAS after age 65, you can receive 0.6% (up to 36%) more per month in payments.
Canada Pension Plan (CPP) – Return on your savings
The Canada Pension Plan (CPP) is based on contributions made by working individuals in Canada. In February 2025, CPP payments will be issued with an increase of 2.6%.
CPP payment details (2025)
- Average CPP pension (at age 65) – $758.32 per month
- Maximum CPP pension (at age 65) – $1,364.60 per month
Important:
- Taking CPP before age 60 can reduce your payment by 0.6% per month (7.2% per year).
- If you choose to take CPP after age 65, payments will increase by 0.7% per month (8.4% per year), which can increase the maximum by up to 42%.
Guaranteed Income Supplement (GIS) – Help for low-income seniors
The Guaranteed Income Supplement (GIS) is for seniors who are receiving OAS and have a low annual income.
Amount of GIS payments in February 2025
- For single seniors – $1,086.88 per month
- Married seniors (both receiving OAS) – $654.23 per month (each)
- If only one partner is receiving OAS – $1,086.88 per month
GIS benefits depend on your annual income. If your income exceeds $22,056, you will not be eligible to receive GIS.
How to know if you will receive OAS, CPP, and GIS payments in February 2025?
The government will issue OAS, CPP, and GIS payments on February 26, 2025. You can check your payment status by:
- My Service Canada Account (MSCA): Click here
- Direct deposit: Make sure your bank account is up to date.
Effect of Inflation
The government adjusts OAS and GIS payments every quarter according to inflation.
- OAS and GIS payments increased by 2.8% in 2024
- CPP increased by 2.6% for 2025
This ensures that seniors maintain their purchasing power.
Provincial Assistance Plans
Various provinces in Canada offer additional financial assistance to their seniors:
- Ontario Guaranteed Annual Income System (GAINS): Additional assistance up to $83 per month
- BC Senior’s Supplement: Additional payment for seniors receiving GIS
- Alberta Seniors Benefit: Income-based financial assistance
Visit your provincial government’s website to see if you are eligible for any additional assistance.
Common reasons for late payments
- Banking errors: Make sure your direct deposit details are correct.
- Address change: Update Service Canada if you have a new address.
- Incomplete application process: Submit all required documents.
- OAS reduction (clawback): If your income exceeds certain limits, the government may reduce the OAS amount.
Conclusion
By February 2025, these valuable OAS, CPP, and GIS payments will bring financial security for seniors. Do you know your eligibility, where your income will fall, how to give yourself a raise in income, and thus, benefit maximally from this important payment package?
As a Canadian senior, ensure that your My Service Canada Account is up to date so that your payments reach you on time and you improve your income managing scheme!
FAQs
Q. What is the maximum OAS payment for February 2025?
A. The maximum OAS payment is up to $800.44 per month.
Q. When will OAS, CPP, and GIS payments be made in February 2025?
A. Payments will be issued on February 26, 2025.
Q. Who qualifies for the Guaranteed Income Supplement (GIS)?
A. Seniors receiving OAS with an annual income below $22,056 (for single individuals) qualify.
Q. Can I receive CPP payments before age 65?
A. Yes, you can start CPP at 60, but your benefits will be reduced.
Q. How do I check my payment status?
A. You can check via the My Service Canada Account (MSCA) online.