The Canada Pension Plan (CPP) is a monthly, taxable government benefit that replaces part of your income in retirement. This guide covers what you need to know about CPP — when it’s paid in 2026, how much you can receive, the different benefits it includes, how your contributions and start age shape your amount, and how to apply.
Key Points
1. CPP is paid once a month, usually in the last week of the month. .
2. The maximum CPP retirement pension at age 65 is $1,507.65/month in 2026 — but most new recipients receive well below that.
3. Your amount depends mostly on how much and how long you contributed, and the age you start — taking CPP at 60 cuts it by up to 36%, while waiting until 70 raises it by up to 42%.
4. CPP payments are taxable income and are adjusted for inflation every January.
What Is The Canada Pension Plan?
The Canada Pension Plan is a contributory, earnings-based pension. While you work, you and your employer pay into the CPP (if you’re self-employed, you pay both shares), and in return you receive a monthly pension when you retire. Unlike Old Age Security, your CPP amount is tied directly to what you contributed over your career.
CPP Payment Dates 2026
CPP is paid on the same schedule as Old Age Security — once a month, usually in the last week. When a payment date falls on a weekend or holiday, you’re paid on the last business day before it.
For 2026, the CPP payment dates are as follows¹:
| Month | 2026 CPP Payment Date |
|---|---|
| January | Wednesday, January 28, 2026 |
| February | Wednesday, February 25, 2026 |
| March | Friday, March 27, 2026 |
| April | Tuesday, April 28, 2026 |
| May | Wednesday, May 27, 2026 |
| June | Friday, June 26, 2026 |
| July | Wednesday, July 29, 2026 |
| August | Thursday, August 27, 2026 |
| September | Friday, September 25, 2026 |
| October | Wednesday, October 28, 2026 |
| November | Thursday, November 26, 2026 |
| December | Tuesday, December 22, 2026 |
Note: Keep Your Banking Information Up To Date – Your monthly payments are deposited directly into your bank account or sent by cheque. To make sure your payments arrive on time, tell the government about any changes to your banking information as soon as they happen. You can do this by updating your details in your My Service Canada Account or by contacting Service Canada directly.
2026 CPP Payment Dates Calendar
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Are You Eligible To Collect CPP?
To receive a CPP retirement pension, you generally need to be at least 60 years old and to have made at least one valid contribution to the plan during your working life. Valid contributions can come from employment in Canada or from credits transferred to you by a former spouse or common-law partner after a relationship ends.
Learn more: Canada Pension Plan Eligibility Requirements
When Can You Start Collecting CPP?
You can start your CPP retirement pension as early as age 60 or as late as age 70. The age you choose has a big effect on your monthly amount:
- Start before 65: your pension is reduced by 0.6% for each month before your 65th birthday — up to a 36% reduction if you start at 60.
- Start after 65: your pension grows by 0.7% for each month you delay — up to a 42% increase if you wait until 70.
There’s no benefit to waiting past age 70, so if you haven’t started by then, you should apply right away.
How Much CPP Can You Get?
There are two numbers worth knowing: the maximum (what you’d get with many years of maximum contributions) and the average (what new recipients actually receive). Most people get far less than the maximum, because few contribute the maximum in every working year.
For 2026, the maximum CPP retirement pension at age 65 is $1,507.65 per month³. Here’s how the main CPP benefits compare²:
| CPP Benefit (2026) | Maximum Monthly | Average Monthly (New Beneficiaries)* |
|---|---|---|
| Retirement pension (at age 65) | $1,507.65 | $925.35 |
| Post-retirement benefit (at age 65) | $54.69 | $11.93 |
| Disability benefit | $1,741.20 | $1,210.86 |
| Survivor’s pension (under 65) | $803.54 | $545.71 |
| Survivor’s pension (65 and older) | $904.59 | $334.24 |
| Children’s benefit | $307.81 | $307.81 |
| Combined survivor’s + retirement (at 65) | $1,531.56 | $1,140.69 |
| Death benefit (one-time payment) | $2,500 | — |
*Average amounts are for new beneficiaries as of January 2026; your own amount depends on your contribution history. A reduced children’s benefit of $153.91 applies for part-time students. The death benefit is a single, one-time payment of $2,500; who qualifies and how to claim it is covered in the extra reading below.
Maximum vs. What Most People Get
Source: Employment and Social Development Canada²ᐟ³
The Different Types Of CPP Benefits
The CPP is best known for its retirement pension, but it also includes several benefits for contributors and their families:
- Retirement pension. The core monthly payment you can start between ages 60 and 70, based on your contributions.
- Post-retirement benefit. If you keep working and contributing while collecting CPP before age 70, each year adds a small lifetime top-up to your pension.
- Disability benefit. A monthly payment for contributors under 65 who can’t work regularly because of a severe and prolonged disability — up to $1,741.20 per month in 2026.
- Survivor’s pension. A monthly payment to the surviving spouse or common-law partner of a contributor who has died (see the amounts in the table above).
- Children’s benefit. A monthly payment of $307.81 in 2026 for the dependent child of a disabled or deceased contributor, paid until age 18 — or 25 if in full-time school.
- Death benefit. A one-time payment of $2,500 to the estate of a deceased contributor. A full guide to who qualifies and how to claim it is in the extra reading at the end of this article.
Should You Take CPP At 60, 65, Or 70?
Because your start age can swing your monthly amount by nearly 80% from end to end, timing is the biggest decision you’ll make about your CPP. There’s no universally “right” answer — it depends on your health, your other income, and whether you need the money now.
- Do you need the income now? If CPP is essential to cover your bills at 60, waiting may not be realistic.
- How is your health and family longevity? Delaying pays off only if you expect a long retirement; starting early can make more sense with health concerns.
- Do you have other retirement income? Savings, a workplace pension, or a working spouse can fund the gap while you delay CPP for a bigger payment.
- Are you still working? You can collect CPP while working, but you’ll keep contributing until 70 (more on that below).
Start at 60 if you need the income now or have health concerns that may shorten your retirement.
Start at 65 if you’re stopping work around then and want the standard, un-reduced amount.
Delay to 70 if you have other income to live on and want the largest guaranteed monthly pension (up to 42% more).
What Affects How Much CPP You Get?
Beyond the age you start, your CPP retirement amount comes down to your contribution history:
- How long you contributed. The more years you paid into the CPP between age 18 and when you start your pension, the higher your amount.
- How much you contributed. Contributions are based on your earnings up to a yearly maximum, so higher-earning years build a larger pension.
The CPP also automatically drops out your lowest-earning months — including time spent raising young children — so those years don’t drag down your average.
How Do CPP Contributions Work?
Your CPP pension is funded by contributions you make while you work. You and your employer each pay a share through payroll deductions; if you’re self-employed, you pay both shares yourself. Contributions apply to your earnings between a $3,500 basic exemption and a yearly maximum.
For 2026, the contribution rules are⁶:
| Contribution (2026) | Your Rate (Employee) | Self-Employed Rate | Applies To Earnings |
|---|---|---|---|
| Base CPP | 5.95% | 11.9% | $3,500 to $74,600 (YMPE) |
| CPP2 (additional) | 4.00% | 8.00% | $74,600 to $85,000 (YAMPE) |
The most an employee can contribute in 2026 is $4,230.45 in base CPP, plus up to $416 in CPP2 — self-employed workers pay both halves, for up to $8,460.90 plus $832. No contributions are required on earnings above $85,000, and the first $3,500 you earn is always exempt.
The CPP Enhancement
You may have noticed CPP contributions climbing over the past several years. That’s the CPP enhancement — a gradual expansion, phased in since 2019, designed to replace a larger share of your pre-retirement earnings (moving from about one-quarter toward one-third). It’s the reason the second earnings ceiling (CPP2) and the maximum pension have grown, and it mainly benefits younger workers who contribute under the new rules for longer. A full breakdown of how the enhancement works is in the extra reading at the end of this article.
Can You Collect CPP While Working?
Yes. You can receive your CPP retirement pension and keep working at the same time. If you’re under 70 and still working while collecting CPP, you’ll continue making contributions, and each year of contributions adds a post-retirement benefit that increases your monthly income the following year. Once you turn 70, contributions stop automatically, even if you keep working.
How Do You Apply For CPP?
CPP isn’t always automatic — in most cases you need to apply, and you should do so a few months before you want your pension to start. There are two ways to apply:
- Online, through your My Service Canada Account. This is the fastest option, usually processed within a couple of weeks.
- By paper, by completing the Application for a Canada Pension Plan Retirement Pension and mailing it to Service Canada. Paper applications can take several months, so apply early.
Once your application is approved, your pension is paid monthly on the dates listed above. You can also ask Service Canada to withhold tax from your payments so you don’t owe a lump sum at tax time.
Are CPP Payments Taxable?
Yes. Unlike some benefits, your CPP pension is taxable income, and you’ll need to include it when you file your return. You can ask Service Canada to withhold tax from your monthly payments so you’re not left with a bill at tax time. CPP amounts are also reviewed each January and adjusted to keep pace with the cost of living — for 2026, payments rose by 2.0%⁵.
Can You Get Retroactive CPP Payments?
If you apply for your CPP retirement pension after age 65, you can ask for retroactive payments going back up to 12 months — the month you apply plus the 11 months before it — paid as a one-time lump sum. Two limits are worth knowing:
- Nothing before age 65. Retroactive payments can’t reach back further than the month after your 65th birthday, so there’s no back pay for any period before then.
- You give up the deferral increase. If you take the retroactive lump sum, your monthly pension is calculated as if you’d started on that earlier date — which means you forgo the 0.7%-per-month increase you’d otherwise earn by waiting.
Because you can never go back more than 12 months, applying well after 65 (without deliberately deferring) can permanently cost you pension you were entitled to. If you’re already past 65 and haven’t applied, it’s worth doing so soon.
Bottom Line
CPP is paid monthly, usually in the last week of the month, and the maximum at age 65 is $1,507.65 in 2026 — but what you personally receive depends on your contributions and the age you start. Because your start age can change your payment by up to 78% from end to end, the timing decision is worth thinking through carefully. For the rules on who qualifies, how the enhancement works, and the death benefit, see the linked guides.
CPP Payment FAQs
References
- Employment and Social Development Canada. (2026). Benefits payment dates. https://www.canada.ca/en/services/benefits/publicpensions/cpp.html
- Employment and Social Development Canada. (2026). Canada Pension Plan — Monthly payment amounts. https://www.canada.ca/en/services/benefits/publicpensions/cpp/payment-amounts.html
- Employment and Social Development Canada. (2026). CPP retirement pension — How much you could receive. https://www.canada.ca/en/services/benefits/publicpensions/cpp/amount.html
- Employment and Social Development Canada. (2026). CPP retirement pension — When to start your pension. https://www.canada.ca/en/services/benefits/publicpensions/cpp/when-start.html
- Employment and Social Development Canada. (2026). Canada Pension Plan amounts and the Consumer Price Index. https://www.canada.ca/en/services/benefits/publicpensions/cpp/receive-benefits/consumer-price-index.html
- Canada Revenue Agency. (2026). CPP contribution rates, maximums and exemptions. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/canada-pension-plan-cpp/cpp-contribution-rates-maximums-exemptions.html
