CPP and OAS payments: October 2026 amounts and when to apply
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The Canada Pension Plan (CPP) and Old Age Security (OAS) are the two public pensions most Canadians collect in retirement. In Quebec, the Québec Pension Plan (QPP) replaces the CPP. This guide gives the CPP and OAS amounts in effect as of October 20, 2026, explains how your start date changes your cheque for life, and shows when to apply. For the rest of your retirement plan, see our retirement guides.
All figures below come from Service Canada's CPP payment amounts page, the OAS payment pages on canada.ca, and Retraite Québec. They are maximums or averages, not what you will personally receive.
CPP and OAS amounts as of October 2026
The CPP is a contributory pension. You paid into it through your paycheques, and your benefit depends on how much and how long you contributed. OAS works differently: it is funded from general tax revenue, and your amount depends on your age, your years of residence in Canada after 18, and your income.
As of October 20, 2026, the published monthly amounts are:
- CPP maximum at 65 (pensions starting in January 2026): $1,507.65
- CPP average for new retirement pensions (July 2026): $858.34
- QPP maximum at 65 (2026): $1,507.65
- OAS maximum, age 65 to 74 (October to December 2026): $762.50
- OAS maximum, age 75 and over (October to December 2026): $838.75
The gap between the CPP maximum and the CPP average is large. Very few people contribute at the maximum level for their whole career. Your own estimate is in your My Service Canada Account (or your Retraite Québec statement of participation), and it is the number to plan with.
How the amounts are indexed
The CPP and QPP are indexed once a year, in January. OAS is reviewed four times a year, in January, April, July, and October, to follow the Consumer Price Index.
- QPP indexation on January 1, 2026: 2.00%
- OAS increase for October to December 2026: 1.4%
- OAS increase over the past 12 months: 3.0%
When you can start each pension
Your start age is a lifetime decision. Once your pension begins, the reduction or the increase stays with you.
CPP: between 60 and 70
The standard age is 65, but Service Canada lets you start as early as 60 or as late as 70. There is no gain from waiting past 70, because the maximum monthly amount is reached at that age.
- Starting before 65: 0.6% less per month, up to 36% less at 60
- Starting after 65: 0.7% more per month, up to 42% more at 70
QPP: between 60 and 72
The QPP gives you two more years than the CPP. Retraite Québec sets the adjustments as follows:
- Starting before 65: 0.5% to 0.6% less per month, so 30% to 36% less at 60
- Starting after 65: 0.7% more per month, up to 58.8% more at 72
- 2026 maximum at 60: $964.90 per month
- 2026 maximum at 72: $2,394.15 per month
OAS: between 65 and 70
OAS cannot start before 65, and the deferral increase stops at 70. Here is what Service Canada publishes for October to December 2026:
- Deferring after 65: 0.6% more per month, up to 36% more at 70
- Maximum if you start at 66: $817.40 per month
- Maximum if you start at 70: $1,037.00 per month
- At 75: an automatic 10% increase, the month after your birthday
| Start age | CPP | QPP | OAS |
|---|---|---|---|
| 60 | 36% less | 30% to 36% less | Not available |
| 65 | Standard amount | Standard amount | Standard amount |
| 66 | 8.4% more | 8.4% more | 7.2% more |
| 70 | 42% more | 42% more | 36% more |
| 72 | 42% more (no gain after 70) | 58.8% more | 36% more (no gain after 70) |
Should you start early or wait?
Waiting pays more per month, but you collect for fewer months. The right answer depends on your health, your other income, and whether you need the money now. Use the lists below as a starting point, not a verdict.
Waiting can pay off if:
- You expect a long retirement: a larger pension, indexed to inflation and paid for life, protects you if you live into your 90s.
- You have savings or work income to bridge the gap: RRSP withdrawals in your 60s can cover the wait and shrink your future RRIF minimums.
- You want more income that does not depend on markets: public pensions keep paying whatever your investments do.
Starting earlier can make more sense if:
- You need the income now: delaying only works if work income or savings cover the gap.
- Your health points to a shorter retirement: a late start means fewer years of payments.
- You would have to borrow to wait: paying interest to delay a pension rarely comes out ahead.
The OAS clawback in 2026
OAS is income-tested through the OAS recovery tax, often called the clawback. If your net world income goes above a threshold, you repay 15% of the excess, up to your whole pension. The recovery is taken from your monthly payments for a July to June period, based on the previous year's income.
For example, a 68-year-old with $110,000 of net income in 2025 is $16,546 over the $93,454 threshold. At 15%, that is $2,481.90 of OAS repaid between July 2026 and June 2027. Withdrawals from a RRIF count as income for this test, which is why the RRSP guide and your withdrawal plan matter years before 71.
| Recovery period | Income year used | Clawback starts above | Full OAS recovered at (age 65 to 74) |
|---|---|---|---|
| July 2025 to June 2026 | 2024 | $90,997 | $148,451 |
| July 2026 to June 2027 | 2025 | $93,454 | $152,062 |
How and when to apply
The CPP and QPP are not automatic. You must apply, and Service Canada lets you apply up to 12 months before your chosen CPP start date. Applying early gives the file time to clear before your first payment.
OAS is often automatic. If Service Canada has your information, it sends an enrolment letter around your 64th birthday. If a month has passed since your 64th birthday and no letter has arrived, contact Service Canada to find out whether you need to apply.
A simple sequence
- Sign in to My Service Canada Account (or your Retraite Québec online account) and check your contribution record and estimate.
- Decide on a start date for each pension, using the lists above.
- Apply for CPP or QPP several months ahead.
- Watch for your OAS letter after you turn 64, or apply yourself.
- Plan your RRSP and RRIF withdrawals around the clawback threshold.
How public pensions fit your savings
Public pensions cover a base. Your RRSP, your TFSA, and any workplace plan fill the rest. Because CPP, QPP, and OAS are all taxable, the timing of your RRSP withdrawals and your pension start dates interact. Our RRSP vs TFSA calculator helps you compare where your next dollar of savings should go, and the TFSA guide explains why TFSA withdrawals do not count toward the OAS clawback.
To see how a CPP or OAS start date changes your tax bill, run your numbers through the income tax calculator.
Conclusion
As of October 20, 2026, the maximum CPP retirement pension at 65 is $1,507.65 per month, the same as the QPP, while the average new CPP pension is $858.34. OAS pays up to $762.50 per month from 65 to 74 and $838.75 from 75. Each year you delay the CPP after 65 adds 8.4%, and each year you delay OAS adds 7.2%. Check your own statement first, then pick a start date that matches your health, your other income, and the clawback threshold.
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Frequently asked questions about CPP and OAS
What is the maximum CPP payment in 2026?
As of October 20, 2026, the maximum CPP retirement pension for someone starting at 65 in January 2026 is $1,507.65 per month. Few people receive it, because it requires maximum contributions for most of your working life. The average new retirement pension was $858.34 in July 2026. Check your own estimate in My Service Canada Account, and read our retirement guides to see how it fits with your savings.
How much is OAS per month in October 2026?
For October to December 2026, OAS pays up to $762.50 per month if you are 65 to 74, and up to $838.75 per month if you are 75 or older. These are full pensions for people with at least 40 years of residence in Canada after 18. With fewer years, you receive a partial pension based on your years of residence divided by 40. OAS is taxable, so plan for it with the income tax calculator.
Is it better to take CPP at 60 or 70?
It depends on your health, your other income, and your need for cash. Starting at 60 cuts your pension by 36% for life, while waiting until 70 raises it by 42%. Many people bridge the gap by drawing on RRSP savings in their 60s and delaying CPP, which can also reduce later RRIF minimums. Our RRSP guide explains how withdrawals are taxed.
What income triggers the OAS clawback?
For the July 2026 to June 2027 recovery period, the clawback starts when your 2025 net world income is above $93,454. You repay 15% of the amount over that threshold. The full pension disappears at about $152,062 of income if you are 65 to 74, and about $157,923 if you are 75 or older. TFSA withdrawals do not count as income, as our TFSA guide explains.
Do I need to apply for CPP and OAS?
You must apply for the CPP retirement pension, and you can do it up to 12 months before your chosen start date. For OAS, Service Canada enrols many people automatically and sends a letter around their 64th birthday. If you get no letter within a month of turning 64, contact Service Canada. In Quebec, apply for the QPP with Retraite Québec. See our retirement section for the next steps.
What is the difference between the CPP and the QPP?
The QPP is Quebec's version of the CPP. People who work in Quebec contribute to the QPP, and everyone else contributes to the CPP. In 2026, both pay the same maximum of $1,507.65 per month at 65. The main difference is timing: the QPP lets you delay until 72 rather than 70, which raises the pension by up to 58.8%. Compare your savings options with the RRSP vs TFSA calculator.
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