Canada Increases CPP & OAS by $400 in February 2025 – Eligibility & Payment Dates

The Government of Canada has announced an increase in the Canada Pension Plan (CPP) and Old Age Security (OAS) to provide relief to retired citizens and pension holders. From February 2025, eligible seniors will receive an additional payment of up to $400 to help them mitigate the impact of rising inflation. This increase has been decided keeping in mind the cost of living.

Why was CPP and OAS increased by $400?

The Government of Canada reviews Old Age Security (OAS) and Canada Pension Plan (CPP) payments every year. This review is done keeping in view the inflation rate and cost of living so that senior citizens continue to get the financial support they need.

After this year’s review, the government decided that an additional increase of $400 will be given in these pension plans from February 2025. This will provide financial support to millions of senior citizens, especially those who receive additional assistance under the Guaranteed Income Supplement (GIS).

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Eligibility conditions for getting an increase in CPP and OAS

This increase will benefit only those seniors who are already receiving CPP or OAS pension. The eligibility conditions are as follows:

1. Eligibility for Canada Pension Plan (CPP)

• The applicant must be a Canadian citizen or permanent resident.
• He must have contributed to the CPP during his tenure.
• The minimum age should be 60 years.
• The amount received will depend on the contribution made by the applicant.

2. Eligibility for Old Age Security (OAS)

• The person must be 65 years of age or above.
• He must have resided in Canada for at least 10 years (after the age of 18).
• If a person has spent 40 years or more in Canada, he will get the maximum benefit.

In addition, low-income seniors can get additional financial assistance under the Guaranteed Income Supplement (GIS).

Payment Dates for February 2025

The Government of Canada issues CPP and OAS payments on a fixed date each month. Payments for February 2025 will be made on the following dates:

• ✔ Canada Pension Plan (CPP) Payment Date: February 27, 2025
• ✔ Old Age Security (OAS) Payment Date: February 27, 2025

Payments will either be sent to a bank account via direct deposit or provided by check in the mail. If a person is using direct deposit, he or she will receive the amount on the due date.

What to do to ensure you get paid?

If you want to take advantage of this increase, make sure your personal information is updated in government records. To do this, take the following steps:

1. ✅ Log in to My Service Canada Account and confirm eligibility.
2. ✅ Update direct deposit details so that there is no delay in payment.
3. ✅ If your address has changed, notify Service Canada so that the check is delivered to the correct address.
4. ✅ If you are eligible for the first time, apply as soon as possible.

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Conclusion

The $400 increase in CPP and OAS pensions in February 2025 is a relief news for seniors. This increase has been made keeping in mind the rising inflation and cost of living so that seniors can meet their needs.

If you are already eligible for CPP or OAS, make sure your information is updated in Service Canada’s records so that you can receive this increased amount on time. On February 27, 2025, your pension payment will be directly deposited into your bank account or a check will be sent by post.

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