Every CPP deposit date for 2025, average and maximum amounts, and how to estimate your monthly pension.
The Canada Pension Plan pays benefits once per month. Payments are typically deposited on the third-to-last business day of each month. Below is the full schedule for 2025.
| Month | Payment Date | Day |
|---|---|---|
| January 2025 | January 29, 2025 | Wednesday |
| February 2025 | February 26, 2025 | Wednesday |
| March 2025 | March 27, 2025 | Thursday |
| April 2025 | April 28, 2025 | Monday |
| May 2025 | May 28, 2025 | Wednesday |
| June 2025 | June 26, 2025 | Thursday |
| July 2025 | July 29, 2025 | Tuesday |
| August 2025 | August 27, 2025 | Wednesday |
| September 2025 | September 25, 2025 | Thursday |
| October 2025 | October 29, 2025 | Wednesday |
| November 2025 | November 26, 2025 | Wednesday |
| December 2025 | December 22, 2025 | Monday |
Note: December is paid early due to the Christmas holiday. Direct deposit payments typically arrive in your bank account on the payment date. Cheques may take 2–5 additional business days.
How much you receive depends on how long you contributed and your earnings history. Here are the key 2025 figures:
| CPP Benefit Type | Maximum 2025 | Average (approx.) |
|---|---|---|
| Retirement pension (age 65) | $1,433.00/mo | $758/mo |
| Retirement pension (age 60, early) | $1,002.10/mo | ~$530/mo |
| Retirement pension (age 70, delayed) | $2,034.86/mo | ~$1,076/mo |
| Disability benefit (CPP-D) | $1,673.24/mo | $1,100/mo |
| Survivor benefit (age 65+) | $859.80/mo | $350/mo |
| Children's benefit | $294.12/mo | $294.12/mo |
Your CPP retirement benefit is calculated using a complex formula based on your contribution history. Here's how it works in plain language:
Service Canada calculates your CPP based on: (1) your pensionable earnings each year, (2) the number of years you contributed, and (3) the age at which you start collecting.
| Factor | Impact |
|---|---|
| Years contributed | More years = higher benefit |
| Earnings level | Higher earnings = higher benefit (up to YMPE) |
| Start age (60–70) | Each year early = -7.2%; each year late = +8.4% |
| Drop-out provisions | 17% of lowest-earning months dropped automatically |
| Child-rearing provision | Years spent raising children under 7 excluded |
| Category | Rate | Maximum |
|---|---|---|
| Employee contribution | 5.95% + 4% (CPP2) | $4,034.10 + $396.00 |
| Employer contribution | 5.95% + 4% (CPP2) | $4,034.10 + $396.00 |
| Self-employed | 11.9% + 8% (CPP2) | $8,068.20 + $792.00 |
| Year's Maximum Pensionable Earnings (YMPE) | — | $71,300 |
| Year's Additional Maximum Pensionable Earnings (YAMPE) | — | $81,900 |
You can begin CPP as early as age 60 or delay it until age 70. The decision significantly affects your lifetime income:
| Start Age | Adjustment | Example Monthly (on $1,000 base) |
|---|---|---|
| Age 60 | -36% (earliest) | $640/mo |
| Age 62 | -21.6% | $784/mo |
| Age 65 | No adjustment | $1,000/mo |
| Age 67 | +16.8% | $1,168/mo |
| Age 70 | +42% (maximum) | $1,420/mo |
The break-even point for delaying from 65 to 70 is approximately age 82–83. If you expect to live past that, delaying often makes sense financially.
You must apply for CPP — it does not start automatically. Here's how:
Online: Log in to My Service Canada Account at canada.ca and apply through your profile. This is the fastest method.
By mail: Download Form ISP-1000 from Service Canada and mail it to your local office.
Timeline: Apply 6 months before you want your payments to start. Processing can take up to 120 days.
Retroactive payments: If you're already eligible and haven't applied, CPP can be paid retroactively up to 12 months.