Canada Pension Plan payments for March go out soon and the average amount is over $800
Look for a direct deposit in your bank account or a cheque in your mailbox.
Canadian money.
Canada Pension Plan (CPP) payments for March are being sent out soon.
This retirement benefit offers a lot of money, with an average monthly payment amount of more than $800!
There will be a direct deposit in your bank account or a cheque in your mailbox soon if you're eligible for the government payment.
So, here's what you need to know about CPP this month, including when the March payment date is and how much money you could receive.
What is the Canada Pension Plan?
CPP is a retirement pension administered by Service Canada.
It's a monthly, taxable benefit that replaces part of your income when you retire. If you qualify, you'll receive CPP for the rest of your life.
Who is eligible for the Canada Pension Plan?
To be eligible to receive the CPP retirement pension, 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 be either from work you did in Canada or from credits received from a spouse/common-law partner after a divorce or separation.
How much money can you get from Canada Pension Plan payments?
The amount of money you get from your CPP retirement pension depends on different factors like your age, contributions and average earnings.
For 2026, the maximum CPP payment at age 65 is $1,507.65 per month.
The average CPP payment amount for new beneficiaries at age 65 is $803.76 per month.
When is the next Canada Pension Plan payment date?
The next CPP payment date is Friday, March 27, 2026.
How do you receive Canada Pension Plan payments?
CPP payments are made through direct deposit or by cheque.
Your payment will be deposited into your bank account directly if you chose the direct deposit option.
If you didn't opt for direct deposit, a cheque for your CPP payment will be mailed to you during the last three business days of the month.
You can sign up for direct deposit at any time by calling Service Canada or going to a Service Canada location.
This article's cover image was used for illustrative purposes only.