Canada’s $1,560 CPP Monthly Increase for Seniors – Eligibility Details and Payment Date

Canada’s public pension system—the Canada Pension Plan (CPP)—is a key source of income for millions of retirees. With a new CPP monthly increase of up to $1560 rolling out in 2025, seniors across the country are eager to learn when the payment will arrive and how to qualify. If you’re nearing retirement or already receiving CPP, knowing these details could help you secure more financial support in your later years.

Overview

The $1560 monthly CPP payment isn’t automatic for everyone. It represents the maximum benefit a retiree can receive starting in 2025. To hit this amount, you’ll need to meet some specific requirements, including how long and how much you’ve contributed to CPP throughout your working life.

Here’s a quick breakdown of the key details:

CPP

The CPP is a mandatory pension plan funded by workers and employers through payroll deductions. It’s designed to replace a portion of your income after retirement, and it complements Old Age Security (OAS) and personal retirement savings.

The more you contribute during your working years, the more you’ll get during retirement. In 2025, the top-tier monthly CPP benefit is $1560—but only for those who’ve consistently paid in at the highest level.

Enhancement

This new $1560 amount is part of a larger CPP enhancement that started in 2019. The plan gradually increases both the contribution rate and the ceiling for pensionable earnings, with the goal of improving retirement income for future generations.

Key parts of the enhancement:

• Higher contribution rates for workers and employers
• Increased pensionable earnings limit, which is now set at $68,500
• Post-retirement benefits, allowing workers who retire but continue contributing to earn extra income later

Dates

If you’re already receiving CPP or plan to start soon, mark your calendar with these 2025 payment dates:

Payments are always sent out on the third-last business day of the month.

Eligibility

To receive the full $1560, you need to meet three important conditions:

1. Maximum Contributions

You must have contributed at or near the annual maximum CPP contribution level for most of your working life. For 2025, the maximum pensionable earnings amount is $68,500.

2. Timing of Your Claim

You can start CPP at age 60, but it comes with a reduction—0.6% less for each month before you turn 65. Delay until 70, and you’ll receive 0.7% more for each month you wait.

Example:
Start CPP at 65 with full contributions, and you could get the full $1560. Start at 60, and you’ll receive a reduced amount.

3. Length of Contribution

The CPP calculates your pension using an average of your highest-earning years. The more years you’ve contributed at the maximum level, the higher your benefit.

Application

Ready to apply? Don’t wait until the last minute. Applications can take several months to process.

How to Apply for CPP:

• Online Application: Use your My Service Canada Account for the fastest results
• Paper Application: Download the form from the Service Canada website and mail it in
• Apply Early: Try to apply at least six months before you want your payments to begin

This gives Service Canada enough time to review your contribution history and get everything set up.

FAQs