CPP and OAS Retirement Benefits Infographic

As part of your retirement planning, it’s important to consider CPP OAS retirement benefits as part of the overall income equation. For most Canadians, these government-provided programs form a foundational layer of retirement income, designed to supplement personal savings, workplace pensions, and other income sources.

Most working Canadians are eligible to contribute toward and receive benefits from the Canada Pension Plan (CPP). CPP provides a monthly, taxable benefit based on how much and how long you contributed during your working years. In contrast, Old Age Security (OAS) is a government benefit available to Canadian citizens and legal residents aged 65 and older who have lived in Canada for a sufficient period of time. Unlike CPP, OAS is not tied to employment or contributions and is funded through general tax revenues.

Together, CPP and OAS retirement benefits are intended to provide a base level of income in retirement. However, they are rarely sufficient on their own, which is why understanding how they fit into a broader retirement strategy is so important.

“You’ll likely be entitled to at least some federal government retirement benefits when you retire. You’ll have to apply to receive the benefits.”

Retirement Benefit Amounts Differ

The amount you receive from CPP and OAS retirement benefits can vary widely from one person to another. CPP payments depend on factors such as your earnings history, how much you contributed, and the age at which you start receiving benefits. OAS eligibility and payment amounts are influenced by how long you have lived in Canada after age 18, and benefits may be subject to recovery tax if income exceeds certain thresholds.

The CPP and OAS Retirement Benefits Infographic illustrates:

  • The ages at which you can begin receiving CPP and OAS
  • Current maximum monthly benefit amounts
  • How early or delayed CPP impacts payments
  • Key considerations around taxation and benefit recovery
  • Important details about applying for benefits

Understanding how CPP OAS retirement benefits work—and how they interact with other income sources—can help retirees make more informed decisions, manage taxes more effectively, and plan for income throughout retirement. This infographic provides a clear, visual overview to support planning conversations and help Canadians better understand their government retirement benefits.