Eligible Canadians can get up to $1,500 from this government payment in June
The average payment amount is over $900!
Canadian money.
It's almost time for June payments of the Canada Pension Plan (CPP).
Canadians who are eligible for this federal benefit can receive up to $1,500.
Service Canada will distribute money as direct deposits into bank accounts and cheques into mailboxes soon.
Here's what you need to know about this government payment, including the June payment date for CPP and the payment amounts.
What is the Canada Pension Plan?
CPP is a monthly retirement pension that's meant to replace part of your income when you retire.
It's a taxable benefit administered by Service Canada that can also include disability, children's and survivor benefits.
If you qualify for this retirement pension, you'll receive CPP payments for the rest of your life.
Who is eligible for the Canada Pension Plan?
To be eligible to receive CPP, you must:
- be at least 60 years old
- have made at least one valid contribution to the CPP
According to the government, valid contributions can either be from work you did in Canada or from credits received from a spouse/common-law partner after a divorce or separation.
If you're eligible, you won't automatically get CPP payments. You need to apply to receive CPP.
You can apply online through your My Service Canada Account or by mail with a paper form.
How much money can you get from Canada Pension Plan payments?
The amount of money you get from this benefit depends on the age you start receiving your pension, how much you contributed to the CPP, how long you contributed to the CPP, and your earnings throughout your working life.
The maximum CPP payment at age 65 is $1,507.65 per month.
The average CPP payment at age 65 is $925.35 per month.
Your retirement pension amounts won't be reduced even if you're working while receiving CPP.
When is the next Canada Pension Plan payment date?
The next CPP payment date is Friday, June 26, 2026.
How do you receive Canada Pension Plan payments?
Service Canada makes CPP payments via direct deposit or cheque.
Your payment will be deposited into your bank account if you chose the direct deposit option. You can sign up for direct deposit at any time.
If you didn't opt for direct deposit, your CPP payment will be mailed to you as a cheque during the last three business days of the month.
Payments are issued on the scheduled dates each month, but can take a few days to arrive. Since cheques are sent by mail, it can take longer than direct deposit.
You're being told to wait five to 10 business days before contacting Service Canada about a missing payment.
This article's cover image was used for illustrative purposes only.