OAS And CPP Payment Increase : More than 1 million seniors are set to receive double payments in February through the OAS and CPP programs. These backward increases are in much demand and support the rising cost of living. If you qualify, here is the full scoop on who qualifies, when it is paid, and how to check for deposits.
What Are The Qualifications For The $3,700 OAS And CPP Payment?
Eligibility For Old Age Security (OAS)
- A person must be at least 65 years of age.
- Must have lived in Canada for at least ten years after being 18 years of age.
- Benefits are prorated based on residency, meaning those living in Canada for 40 years or more would receive full benefits.
Canada Pension Plan (CPP) Eligibility
- For contributing periods, the applicant must have been under the CPP.
- Commencement of benefits is allowed when an applicant turns 60 (for a reduced amount) or at 70 (for a maximum payment).
How Much Will You Receive?
Maximum OAS and CPP benefits for February 2025 are as follows:
- Maximum OAS Payment: $707.68 per month (for ages 65 to 74).
- OAS Maximum (75+ Bonus): $778.45 per month (for people aged 75 and over).
- Maximum CPP Payment: $1,364.60 per month (for those who have contributed the maximum).
Total Possible Payment In February 2025
- OAS + CPP for Age 65-74: Up to $2,072.28
- OAS + CPP for Age 75+: Up to $2,143.05
- Double Payment (February Bonus): Up to $3,700
Why Is There A February Double Payment?
The double payment for February 2025 results from adjusting payment timelines and increasing the senior COLA (Cost of Living Adjustment), ensuring that retirees receive their benefits without delay.
Deposit Dates For February 2025
The Government of Canada deposits payments for the OAS and CPP on specific dates each month. February 2025 is expected to have the following deposit dates:
- OAS Payment Date: February 27, 2025
- CPP Payment Date: February 27, 2025
Most seniors will receive both payments directly into their respective bank accounts on the same day. For seniors receiving a cheque, it may take some extra days to arrive.
How To Check Your OAS And CPP Payment?
To verify payments, check dates and amounts by logging into My Service Canada Account (MSCA) at [canada.ca](https://www.canada.ca), or call Service Canada at 1-800-277-9914. For direct deposit patients, consult your bank on the exact date of payment. For cheques, allow extra time for delivery. Staying informed helps you get your benefits in a timely manner, without trouble.
Also Read: Canada’s $7,787 Child Benefit In 2025 – Who Qualifies & When Will It Be Paid?