Steve
For millions of Canadian seniors, the Canada Pension Plan (CPP) is a vital source of monthly retirement income. With rising living costs, every dollar matters—so it’s important to know how much you can receive, how to maximize your CPP, and how to ensure safe, on-time payments.
In 2025, seniors could see combined CPP benefits rise as high as $1,720 per month. In this guide, we’ll break down exactly how this happens, provide eligibility details, show you how to apply for direct deposit, and explain what affects your monthly CPP amount.
What Is CPP and How Does It Work?
The Canada Pension Plan is a contributory social insurance program designed to replace a portion of your pre-retirement income.
If you’ve worked in Canada and paid into CPP (either through payroll deductions or self-employed contributions), you are eligible to receive monthly payments starting as early as age 60.
Both employees and employers contribute to the CPP. The amount you receive depends on:
- How much you contributed over your career
- How many years you contributed
- The age you begin to collect CPP
The maximum monthly CPP payment at age 65 in 2025 is currently $1,433.00, but with additional benefits, some seniors could see total payments around $1,720 monthly.
$1,720 Monthly CPP Breakdown
| Component | Monthly Amount (2025) |
|---|---|
| Maximum CPP Retirement Pension at 65 | $1,433.00 |
| Post-Retirement Benefit (PRB), if applicable | Varies (up to ~$100) |
| CPP Survivor’s Pension (if eligible) | Up to $752.15 |
| Combined CPP + PRB + Survivor’s Pension | Up to ~$1,720 |
How Can Seniors Reach $1,720 Monthly?
- High lifetime CPP contributions (contributing at max levels for most of your career)
- Post-retirement employment generating PRB payments
- Receiving a CPP Survivor’s Pension in addition to your own CPP benefit
CPP Direct Deposit Details
The Government of Canada strongly encourages direct deposit for CPP payments, as it is faster, more secure, and avoids postal delays.
How to Set Up or Change Direct Deposit:
1. Online via Service Canada:
Sign in to your My Service Canada Account (MSCA) to manage direct deposit information.
2. By Phone:
Call Service Canada at 1-800-277-9914.
3. By Mail:
Complete Form ISP1011 (Request for Direct Deposit in Canada) and mail it to the appropriate address provided.
Important: Have your Social Insurance Number (SIN) and full banking details (institution number, branch number, account number) ready.
When do CPP direct deposits happen?
Payments are typically deposited on the third-to-last business day of each month. It’s important to track payment dates to plan your finances accordingly.
CPP Eligibility in 2025
You are eligible to receive CPP benefits if you:
- Are at least 60 years old
- Have made at least one valid contribution to CPP
- Worked in Canada and contributed through employment or self-employment
- Apply for CPP through Service Canada
Reminder: The longer you wait (up to age 70), the higher your monthly benefit will be due to delayed retirement credits.
In 2025, seniors receiving CPP could potentially see their monthly payments approach $1,720—especially when combining CPP, Post-Retirement Benefits, and Survivor’s Pension. This makes understanding your options and optimizing contributions incredibly important.
To ensure timely, secure payments, enroll in direct deposit through Service Canada. This will help you avoid postal delays and receive your CPP on time, every month.
FAQs
How much CPP can I receive monthly in 2025?
The maximum CPP retirement pension at age 65 is $1,433.00. With additional benefits, some seniors may receive up to $1,720 monthly.
How do I set up CPP direct deposit?
You can set it up online via your My Service Canada Account, by phone (1-800-277-9914), or by mailing Form ISP1011.
Can I collect CPP and OAS at the same time?
Yes. CPP and Old Age Security (OAS) are separate programs, and many seniors receive both payments.