Old Age Security (OAS) & CPP Payment Dates 2026: Official Schedule

For most retired Canadians, the Old Age Security (OAS) and Canada Pension Plan (CPP) aren't just "extra money"—they are the lifeline that pays for heating, groceries, and medication.

Unlike the Canada Child Benefit, which comes mid-month, federal pensions are paid at the end of the month.

Live Pension Tracker: Countdown to the Next 2026 OAS & CPP Deposit

This is the Official 2026 Pension Schedule, verified against Employment and Social Development Canada (ESDC) circulars. We also cover the "Clawback" limits and the specific banking times you can expect the funds to clear.

The "Third-to-Last" Rule

The government follows a strict rule for pension payments:

• The Rule: OAS and CPP are always paid on the third-to-last banking day of the month.
• The Exception: December. To help seniors with holiday expenses, the December payment is always issued roughly a week early (usually around the 20th-22nd).

Official 2026 OAS & CPP Payment Schedule

Save this table. It applies to OAS, CPP, the Guaranteed Income Supplement (GIS), and Survivor Allowances.

(Note: For a full view of all government deposits, including GST and Trillium, check our Master Payment Calendar 2026 pillar guide.)

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• TFSA vs. RRSP for Low Income (The GIS Trap)
• Shared Custody CCB Rules (50/50 Split Guide)
• Warm Neighbor Programs (Heating Bill Help)

Quick Answers: Common Pension Questions

What are the OAS payment dates for 2026?

Old Age Security (OAS) and Canada Pension Plan (CPP) payments are issued on the third-to-last banking day of every month. For 2026, key payment dates include January 28, March 27, and the early holiday payment on December 22, 2026.

How much can you earn before OAS clawback 2026?

For the July 2026 to June 2027 payment period, the OAS recovery tax (clawback) threshold is approx. $93,454. If your net income from 2025 exceeds this amount, your Old Age Security pension will be reduced by 15 cents for every dollar earned above the limit.

Is Old Age Security (OAS) taxable income?

Yes. Both the Old Age Security (OAS) pension and the Canada Pension Plan (CPP) are considered taxable income by the CRA. You must report them on your annual tax return, and you may owe tax at the end of the year if you do not request voluntary tax deductions from your monthly payments.

How much will OAS increase in 2026?

OAS payments are reviewed quarterly (January, April, July, October) to adjust for inflation. While exact amounts depend on the Consumer Price Index (CPI), seniors aged 65 to 74 can expect a maximum monthly payment of approx. $740.09, while those aged 75+ receive a 10% higher amount, reaching approx. $814.10 per month.

How Much Will You Get in 2026?

OAS amounts are reviewed quarterly (Jan, Apr, Jul, Oct) to keep up with the Cost of Living.

1. Old Age Security (OAS)

• Seniors 65 to 74: Max estimate ~$740.09 per month.
• Seniors 75 and over: Max estimate ~$814.10 per month (Includes the 10% boost).
• Note: You only get the full maximum if you have lived in Canada for 40 years after turning 18. If you lived here less than 40 years, you get a "partial pension" (e.g., 20/40ths).

2. Canada Pension Plan (CPP)

• Maximum (Age 65): Approx. $1,364.60 (Very few people get the max).
• Average Payment: Most Canadians only receive around $831.92 per month.
• Why: CPP is based on how much you contributed while working. If you had years of low income or unemployment, your payment will be lower than the maximum.

The "Clawback" Warning (OAS Recovery Tax)

The most common shock for seniors is the OAS Recovery Tax, famously known as the "Clawback."

If your net annual income is too high, the government takes some of your OAS back.

• The 2026 Threshold: For the payment year starting July 2026, the clawback is based on your 2025 Income.
• The Limit: If you earned more than approx. $93,454 in 2025, your OAS will be reduced.
• The Calculation: You lose 15 cents of OAS for every dollar you earned above the threshold.
• The Cut-off: If you earned over roughly $154,000, your OAS drops to $0.

Street Reality: The "Capital Gains" Trap

Be careful if you sell a cottage or a rental property. The one-time profit (Capital Gain) counts as income for that year. It can easily push you over the $93k limit and wipe out your OAS payments for the entire following year.

(See our guide on TFSA vs RRSP for Low Income Seniors to protect your benefits.)

The Guaranteed Income Supplement (GIS)

If you are a low-income senior living on only OAS and CPP, you likely qualify for the GIS.

• Who gets it: Single seniors earning less than approx. $22,000 (excluding OAS).
• Do I apply? Usually, the government enrolls you automatically when you file your taxes.
• The Danger: If you file your taxes late (after April 30), your GIS payments will stop in July. You cannot afford to be late.

Deposit Times by Bank

If you wake up on payment day and the money isn't there, check your bank's processing time before calling Service Canada.

• Tangerine: Often deposits the night before (around 10:30 PM ET).
• RBC / TD / CIBC: Process deposits overnight, usually visible between 3:00 AM and 6:00 AM local time.
• Cheques: If you still receive paper cheques, they are mailed roughly 3 days before the payment date. However, Canada Post delays can push delivery to 3-5 business days after the official date. We strongly recommend switching to Direct Deposit.

The CPP Death Benefit: A $2,500 Rule

If a CPP contributor passes away, their estate is entitled to a one-time payment.

• The Amount: A flat rate of $2,500.
• The "Top-Up" Rule (New): As of 2025, a new "Top-Up" applies if the deceased never received CPP and has no surviving spouse. In these rare cases, the benefit can increase up to $5,000.
• How to Claim: It is not automatic. The executor MUST apply for it within 60 days of the death.

Common Questions (FAQ)

Will I lose my OAS if I leave Canada?

• If you lived in Canada 20+ years: No. You can live anywhere in the world and receive your OAS pension.
• If you lived in Canada less than 20 years: You can only receive OAS outside Canada for 6 months. After that, payments stop until you return.

Does my spouse's income affect my OAS?

No. OAS is an individual entitlement. Your spouse can be a millionaire, and you will still get your full OAS (as long as your personal income is under the $93k clawback limit).

• Exception: GIS is based on family income. If your spouse has money, you will not get GIS.

Is OAS taxable?

Yes. Both OAS and CPP are taxable income. You must report them on your tax return.

• Tip: You can ask Service Canada to deduct tax from your monthly payment so you don't owe a huge bill in April.

Need More Income?

If your pension isn't covering your monthly bills, you might consider a low-stress part-time role. We track senior-friendly jobs across Canada.

👉 Find Daily Pay Jobs at BetterPayJobs.ca

About the Author

Jeff Calixte (MC Yow-Z) is a Canadian labour market researcher and digital entrepreneur specializing in government benefit data and cost-of-living support. As the founder of CanadaPaymentDates.ca and BetterPayJobs.ca, Jeff helps newcomers, students, and workers navigate the Canadian social safety net—from tracking CRA payment schedules to finding entry-level work.

Sources

1. Service Canada (ESDC): OAS & CPP Payment Dates
2. CRA Recovery Tax: OAS Recovery Tax Thresholds
3. CPP Disability: CPP Disability Payment Amounts

Note

Official 2026 payment dates and benefit amounts are determined by the Canada Revenue Agency (CRA) and provincial governments. While we strive to keep this information current, government policies and schedules are subject to change without notice. All data in this guide is verified against official CRA circulars at the time of publication and should be treated as an estimate. We recommend confirming the status of your personal file directly via CRA My Account or by calling the CRA benefit line at 1-800-387-1193.