Canadian seniors can expect their next Old Age Security (OAS) and Canada Pension Plan (CPP) deposits on Tuesday, April 28, 2026. This payment will include the latest quarterly cost of living adjustment for OAS recipients. The April payment is particularly significant as it reflects the OAS increase for the April to June 2026 quarter and is the last payment before the amounts are reviewed again in July.
For millions of retirees across Canada, the April 28 deposit will include a new 0.1% quarterly increase in OAS benefits. In contrast, CPP benefits follow an annual indexation cycle that only adjusts once each January.
OAS Payments Quarterly Adjustment Cycle
The Old Age Security program operates on a quarterly review system, with adjustments made in January, April, July, and October. Each adjustment compares the average Consumer Price Index (CPI) over the most recent three-month period against the previous three-month period that resulted in a benefit increase. This mechanism allows OAS benefits to keep pace with inflation more quickly than the annual adjustment cycle used for CPP.
For the current quarter, OAS benefits are set to rise by 0.1% compared to the January to March 2026 quarter, reflecting minimal CPI gain. The cumulative OAS increase from April 2025 to April 2026 amounts to 2.1% across four quarterly reviews.
Maximum OAS Amounts Coming On April 28
Eligible seniors will see the following maximum OAS amounts deposited on April 28:
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- Seniors aged 65 to 74 with a 2024 annual net world income below $148,451 can receive up to $743.05 per month.
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- Seniors aged 75 and over with a 2024 annual net world income below $154,196 can receive up to $817.36 per month.
These figures reflect the 0.1% increase and include the top-up introduced in July 2022 for seniors over 75. It’s important to note that these amounts apply only to those who have lived in Canada for at least 40 years after age 18; partial pensions are available for those who qualify based on fewer years of residency.
Projected July 2026 OAS Payment Increase
The upcoming July 2026 quarterly review will analyze the CPI from February, March, and April 2026. If the three-month average CPI exceeds the previous reference period, an increase in OAS rates is anticipated for the July to September 2026 quarter. Current forecasts suggest a modest increase of approximately 1.3%. However, this is contingent upon the CPI figures to be released in May.
OAS Clawback Rules For 2026 Recipients
The OAS pension is taxable income. For the recovery tax period from July 2025 to June 2026, individuals with a net world income above $90,997 may have to repay 15% of the excess amount. For 2026 income, the repayment range is between $95,323 and $154,753 for those aged 65 to 74, and $160,696 for seniors aged 75 and over. It is crucial to understand that GIS, Allowance, and Allowance for the Survivor payments are non-taxable and do not factor into this clawback calculation.
Guaranteed Income Supplement (GIS) Amounts Also Increase
Effective April 2026, the Guaranteed Income Supplement also received a 0.1% increase. The maximum monthly GIS amounts are as follows:
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- Single, widowed, or divorced seniors with a 2024 annual net income below $22,512 can receive up to $1,109.85.
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- Couples where both partners receive full OAS can receive up to $668.08 per month if their combined income is below $29,760.
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- Other scenarios include varying amounts depending on whether the partner receives the Allowance or does not receive OAS.
GIS payments are non-taxable and do not affect the OAS recovery tax calculation.
How To Confirm Your April 28 Payment
Direct deposit recipients should expect their payments to appear in their bank accounts on the morning of April 28, 2026. Those receiving paper checks should allow an additional two to three business days for delivery. Seniors can log into their My Service Canada Account to check the status of their payments and update any necessary information.
What To Do If Your April 28 Payment Does Not Arrive
If a payment does not arrive, recipients are advised to first check their bank posting times and confirm details in their My Service Canada Account. If the issue persists, they may contact Service Canada to report a missing payment.
OAS Deferral Option For Higher Lifetime Payments
Seniors can defer their OAS pension up to 60 months for a higher monthly benefit. Each month of deferral increases the monthly payment by 0.6%, potentially resulting in a significant lifetime boost. This option is beneficial for those who expect to earn higher income and may face clawbacks if they take OAS at 65.
Tax Treatment Of Your April 28 CPP And OAS Payments
Both CPP and OAS payments are fully taxable at federal and provincial levels. Recipients should report these amounts on their 2026 T1 returns. Voluntary tax withholding can be arranged through My Service Canada Account to help manage potential tax obligations.
2026 CPP And OAS Payment Dates
The April 28, 2026, payment is part of a regular monthly schedule for CPP and OAS deposits. Subsequent payments will occur on:
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- May 27, 2026
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- June 26, 2026
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- July 29, 2026
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- August 27, 2026
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- September 25, 2026
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- October 28, 2026
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- November 26, 2026
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- December 22, 2026
These payments will reflect the latest increases and adjustments as applicable.
Frequently Asked Questions
When will the next OAS payment arrive after April 28, 2026?
The next OAS and CPP deposit is scheduled for May 27, 2026.
What is the difference between CPP and OAS cost of living adjustments?
CPP adjusts once each January based on a full 12-month CPI average, while OAS adjusts four times a year using shorter 3-month CPI windows.
How much could OAS increase in July 2026?
Official July amounts will be confirmed in late June, but a modest increase is expected if the recent CPI average exceeds previous levels.
Can I receive both CPP and OAS at the same time?
Yes, most Canadian seniors receive both pensions concurrently on the same monthly deposit date.
What happens to my GIS if I file my 2025 tax return late?
Late filing may result in GIS payment suspensions starting in July 2026 if the CRA does not have a current tax return on file.
Reality Check
It is important for seniors to understand that while OAS and CPP payments are beneficial, they are subject to taxation and potential clawbacks based on income levels. Seniors should be cautious about relying solely on these payments for their financial needs and should regularly check for updates regarding their benefits. Always verify details on official sources such as Service Canada for the most accurate and current information.
