May 28, 2026
Let’s look at government programs available in retirement, including the Canadian Pension Plan (CPP), Old Age Security (OAS), and the Guaranteed Income Supplement (GIS).
The Canadian Pension Plan is one of the main sources of income for retired Canadians. In Quebec, the equivalent is the Quebec Pension Plan. It is a monthly payment designed to replace about 25% of your income in retirement. The amount you receive depends on how long you have worked in Canada after age 18, how much you contributed to CPP during that time, and your taxable income. To receive the maximum amount, you need to contribute at the maximum level for 39 years. The maximum monthly payment is $1,507.65, while the average payment is $925.35. The age you start also matters. Taking CPP between ages 60 and 64 may reduce your payment, while starting between ages 66 and 70 may increase it. For a quick estimate of your CPP pension amount, register or sign in to your My Service Canada Account (MSCA). Then go to the Canada Pension Plan section and choose “View my benefit estimates.”
Old Age Security (OAS) eligibility is based on your income in retirement and how long you have lived in Canada after age 18. You must be at least 65 years old. The maximum monthly payment for those aged 65 to 74 is $743.05. Those aged 75 and older receive an additional 10%, bringing their monthly payment to $817.36. Old Age Security also includes additional benefits, one of which is the Guaranteed Income Supplement (GIS).
The Guaranteed Income Supplement (GIS) is a monthly payment for low-income pensioners receiving OAS. The amount is based on how much income you have from all retirement sources. Eligibility depends on your age, income, how long you have lived in Canada, and whether you are a Canadian citizen or legal resident. To qualify, you must be receiving the OAS.
As with CPP, everyone’s circumstances are different. Click here to go to the Canadian government’s OAS and GIS calculator. It asks a few questions, is quick to complete, and does not require a sign in. The page includes charts showing the maximum payments available from each program. One important requirement when applying is that you must provide a list of all addresses where you have lived since your 18th birthday, up to the day you apply for OAS and GIS.
Understanding CPP, OAS, and GIS is an important first step in building a clearer picture of your retirement income. While these government programs can provide valuable support, they are only one part of the equation. Watch for a future On the Horizon article that will discuss RRSP accounts and how they can help you save more intentionally for retirement.
If you have any follow up questions and would like to know more, email benefits@karis.org.
Human Resources, Benefits Team