Jenny
As July 2025 nears its end, qualified Canadians can expect financial support through various government pension programs.
Over the coming days, three primary payments will be issued: the Canada Pension Plan (CPP), the Old Age Security (OAS) pension, and the Veteran Disability Pension.
Notably, recipients of CPP and OAS will notice slight increases in their benefits, reflecting adjustments aligned with the new benefit year that begins this month.
With inflation continuing to pressure household budgets, these government payments play a vital role in offering financial relief. According to Statistics Canada, shelter costs have climbed by 2.9%, and grocery prices are up by 2.8% compared to the previous year.
Here’s a full breakdown of each benefit, eligibility criteria, payment amounts, and important dates.
Canada Pension Plan (CPP) – Scheduled for July 29
The Canada Pension Plan is a monthly, taxable benefit designed to replace part of the income lost upon retirement. This lifelong support is available to eligible retirees and those who continue working beyond retirement age.
Eligibility Criteria
- Must be at least 60 years old
- Must have made at least one valid CPP contribution
- Continued contributions after retirement can increase your benefit
Payment Amounts
- Average monthly payment: $899.67
- Maximum monthly benefit: $1,433
- Your actual benefit is determined by:
- Age when you begin receiving payments
- Contribution history and duration
- Average annual earnings during your working years
Old Age Security (OAS) Pension – Also Arriving July 29
The Old Age Security program offers monthly income to Canadians aged 65 and older, regardless of their employment history.
Eligibility Criteria
- Must be 65 years or older
- Benefit amounts vary depending on age and net income
Payment Breakdown for 2025
| Age Group | Maximum Monthly Payment | Net Income Threshold (2024) |
|---|---|---|
| 65 to 74 years old | $734.95 | Less than $148,541 |
| 75 years and older | $808.45 | Less than $154,196 |
Veteran Disability Pension – Payment Date July 30
This tax-free benefit is designed to support veterans and service members who suffer from disabilities connected to their service.
Who Qualifies?
You may be eligible if you are:
- A current or former member of the Canadian Armed Forces
- A current or former RCMP officer
- A veteran of the Second World War or Korean War (including Merchant Navy members and eligible civilians)
Additional Requirements
- You must have a diagnosed medical condition
- You must provide proof that your condition is related to service
Payment Details
- Offers either a monthly lifetime benefit or a lump sum (for pain and suffering)
- Monthly payments range from $69.60 to $1,391.98
- The benefit amount may vary depending on number of dependents and disability severity
These government pensions—CPP, OAS, and the Veteran Disability Pension—continue to provide crucial financial support to millions of Canadians.
With inflation impacting basic needs like housing and food, these timely July payments offer some relief for seniors, veterans, and those transitioning into retirement.
If you think you may qualify, ensure your information is up to date and review your eligibility to make the most of the assistance available.
FAQs
Can I receive both CPP and OAS at the same time?
Yes, eligible individuals can receive both CPP and OAS benefits concurrently, provided they meet the requirements for each.
Do CPP and OAS amounts change every year?
Yes. The government periodically adjusts CPP and OAS amounts based on inflation and cost-of-living metrics, which is why amounts have increased in July 2025.
How do I apply for the Veteran Disability Pension?
You can apply online through the Veterans Affairs Canada website or by contacting them directly for assistance with paperwork and medical documentation.