As May 2025 nears its end, Canadian seniors dependent on government support can expect their next Canada Pension Plan (CPP) payment very soon. For retirees managing expenses like rent, food, and utilities, these monthly payments are vital.
With the cost of living still high across many provinces, CPP and Old Age Security (OAS) remain essential income sources for millions.
Here’s a comprehensive guide to help you understand May CPP payments, eligibility, application process, and how much you might receive.
What is the Canada Pension Plan (CPP)?
The Canada Pension Plan is a federally administered social insurance program designed to provide income during retirement.
If you’ve worked in Canada and had CPP contributions deducted from your wages, you’ve been building toward these monthly payments.
You may begin receiving benefits as early as age 60, though payments will be lower. The later you begin—up to age 70, the more you’ll receive monthly. After turning 70, there are no further increases for delays.
Once approved, your benefit is guaranteed for life and adjusted annually to account for inflation. With direct deposit, CPP offers consistent support in retirement.
CPP Eligibility Requirements
To qualify for CPP retirement benefits, you must:
- Be at least 60 years old
- Have made at least one valid contribution to CPP while working in Canada
Additional Considerations:
- You can split CPP credits after a divorce or separation, which may affect your amount.
- You don’t have to retire to collect CPP. If you’re under 70 and still employed, you may qualify for the Post-Retirement Benefit (PRB), which boosts your CPP payments with ongoing contributions.
How to Apply for CPP Benefits
Applying is straightforward:
- Decide when you want to start receiving payments (any time between age 60–70).
- Apply online via your My Service Canada Account, or
- Download and submit a paper application by mail or at a Service Canada office.
Does Quebec Have Its Own Pension Plan?
Yes, residents of Quebec contribute to the Quebec Pension Plan (QPP) instead of CPP. Both plans offer similar retirement benefits.
If you worked in both Quebec and other provinces, your contributions will be coordinated, ensuring your benefits reflect your total earnings and contributions.
QPP payments are also monthly. For May 2025, the QPP deposit is scheduled for May 30.
How Are CPP Payments Calculated?
CPP amounts are calculated based on:
- Start age (60 to 70)
- Total contributions
- Employment income history
- Special cases like disability, child-rearing, or low-income years
If you start at 60, your monthly payment is reduced. Waiting increases it until 70. Additional contributions under 70 will further boost your payments via the Post-Retirement Benefit.
For an estimate, use the Retirement Income Calculator or check your My Service Canada Account.
How Much Will You Get From CPP?
As of January 2025, here’s what retirees can expect:
| Start Age | Payment Type | Monthly Amount |
|---|---|---|
| 65 | Maximum Payment | $1,433 |
| 65 | Average New Retirement Payment | ~$900 |
Your payment depends entirely on your contribution history and working income.
Is CPP Taxable?
Yes, CPP is considered taxable income. Taxes are not automatically deducted, but you can request this via your My Service Canada Account or through a paper form.
- If you skip tax deduction setup, you might owe taxes later.
- Non-residents will automatically have a withholding tax applied.
May 2025 CPP Payment Date
For those using direct deposit, CPP payments are sent during the last week of each month. The next payment is scheduled for:
Wednesday, May 28, 2025
Plan ahead using the upcoming CPP payment schedule:
| Month | Payment Date |
|---|---|
| June 2025 | Thursday, June 26 |
| July 2025 | Tuesday, July 29 |
| August 2025 | Wednesday, August 27 |
| September 2025 | Thursday, September 25 |
| October 2025 | Wednesday, October 29 |
| November 2025 | Wednesday, November 26 |
| December 2025 | Monday, December 22 |
With the next Canada Pension Plan payment arriving on May 28, 2025, now is the time for retirees to ensure everything is in order.
Whether you’re newly eligible or long-time retired, CPP offers a reliable monthly income to help meet your financial needs.
Make sure your information is up-to-date, understand your payment amount, and plan ahead using the CPP payment calendar.
FAQs
Can I work and still receive CPP?
Yes, if you’re under 70 and employed, you can still receive CPP. You may also be eligible for post-retirement benefits if you’re contributing while working.
Do I have to apply again each year for CPP?
No. Once your CPP is approved, payments continue automatically each month, with annual adjustments for inflation.
What if I contributed to both CPP and QPP?
Your contributions will be combined and coordinated to ensure you receive the correct benefit across both programs.