The Government of Canada has several pension programs; some are funded by mandatory payroll deductions and others out of general tax revenue.
Canada Pension Plan (CPP)
Is funded through employee and employer contributions.
The amount deducted from your paycheque depends on your earnings.
Although individuals can start taking the CPP at age 60, full retirement benefits start at age 65.
The amount you receive depends on how much you contributed, with a maximum of C$1,433.00/month (in 2025)
Old Age Security (OAS)
This is a non-contributory, government-funded pension. Everyone receives it.
To qualify, you must be over age 65, have lived in Canada for at least 10 years after age 18.
To receive the full amount, you must have lived in Canada for at least 40 years.
In 2025, the maximum monthly OAS amount is C$727.67 for those aged 65 to 74, increasing to C$800.44 for those aged 75 and over.
However, if after age 70, your income is above $86,912 (in 2025), the excess amount of the OAS will be deducted from your annual income tax return (called the OAS Clawback).
Guaranteed Income Supplement
This is a non-contributory, government-funded plan.
It is additional income for low-income seniors, on top of the OAS. You must apply for it each year.
