Service Canada administers this federal benefit through direct deposits and paper cheques.
If you're eligible for the government payment, you can expect to receive money near the end of the month.
Here's what you need to know about CPP, including eligibility, payment amounts, the October payment date, and more.
What is the Canada Pension Plan?
CPP is a monthly retirement pension that's meant to replace part of your income when you retire.
It's a taxable benefit that can also include disability, children's and survivor benefits.
If you qualify for this retirement pension, you'll receive CPP payments for the rest of your life.
Who is eligible for the Canada Pension Plan?
To be eligible to receive CPP, you must:
- be at least 60 years old
- have made at least one valid contribution to the CPP
A valid contribution can be from work you did in Canada or from credits received from a spouse/common-law partner after a divorce or separation.
If you're eligible, you won't automatically get CPP payments. You must apply online through your My Service Canada Account or by mail with a paper form.
The standard age to start CPP is 65, but you can start as early as age 60 or as late as age 70.
Service Canada said starting earlier means smaller monthly payments, and starting later means bigger monthly payments. But there is no benefit to waiting until after age 70 because the maximum monthly amount is reached once you turn 70.
If you apply after age 65, you can request a retroactive start date, which could be as early as 11 months before your application is received, but no earlier than the month after your 65th birthday.
How much money can you get from Canada Pension Plan payments?
The amount of money you get from the pension depends on the age you start receiving it, how much you contributed to the CPP, how long you contributed to the CPP, and your earnings throughout your working life.
The maximum CPP payment amount for 2026 is $1,507.65 per month.
In October, the average CPP payment for new beneficiaries at age 65 is $858.34 per month.
Your retirement pension won't be reduced even if you're still working while receiving CPP.
When is the next Canada Pension Plan payment date?
The next CPP payment date is Wednesday, October 28, 2026.
How do you receive Canada Pension Plan payments?
Service Canada issues CPP payments via direct deposit or cheque.
Your payment will be deposited into your bank account if you have direct deposit set up with Service Canada.
If you don't have direct deposit as your preferred payment method, your CPP payment will be mailed as a paper cheque during the last three business days of the month.
Payments are issued on the scheduled dates each month, but can take a few days to arrive. Since cheques are sent by mail, it can take longer than with direct deposit for you to get money.
You can sign up for direct deposit with Service Canada at any time.
