As June 28, 2025 approaches, millions of Canadian retirees are preparing to receive the next Canada Pension Plan (CPP) deposit. For those eligible, this month’s maximum payout could be up to $1,433—a crucial boost in the face of rising living costs.
In this guide, we’ll break down who qualifies for the CPP June 2025 deposit, how much you may receive, key application steps, and tips to get the most out of your retirement income.
What Is the Canada Pension Plan (CPP)?
The CPP is a monthly retirement pension for Canadians who contributed to the program during their working years. It’s designed to replace a portion of your employment income after retirement. If you worked in Canada and earned above the minimum contribution threshold, you’ve likely paid into CPP.
In addition to retirement benefits, CPP offers:
- Disability Benefits
- Survivor Benefits
- Children’s Benefits
- Death Benefits
The program has evolved since its 1965 launch, with CPP enhancements introduced in 2019 that will be fully implemented by 2025. These enhancements aim to replace one-third of your pre-retirement income, up from the previous one-quarter.
Key CPP June 2025 Payment Details
| Topic | Details |
|---|---|
| Payment Date | June 28, 2025 |
| Max Monthly CPP (at 65) | $1,433.00 |
| Average Monthly CPP (Oct 2024) | $899.67 |
| Eligibility Age | 60 years or older |
| Contribution Requirement | At least one valid CPP contribution |
| Application Required | Yes, through My Service Canada Account |
| Taxable Income | Yes, CPP is taxable |
| Recommended Payment Method | Direct deposit for faster delivery |
Who Qualifies for the $1,433 CPP Payment?
To receive the June 28 payment or future CPP benefits, you must meet the following conditions:
- Be at least 60 years old
- Have made at least one valid CPP contribution
- Have worked or lived in Canada
If you reside in Quebec, note that you’re covered by the Quebec Pension Plan (QPP) instead.
Even if you meet the minimum requirement, your monthly payment depends heavily on your lifetime earnings and contribution history.
How Much CPP Will You Receive?
While the maximum monthly payment in 2025 is $1,433, the average Canadian receives about $899.67. Several factors influence your individual amount:
- Contribution years: Shorter contribution periods reduce the payout.
- Income level: Higher lifetime earnings result in higher benefits.
- Retirement age: Early retirement reduces monthly payments, while delaying increases them.
CPP Payment Examples:
| Start Age | Percentage of Max | Estimated Monthly Amount |
|---|---|---|
| 60 | 64% | $916 |
| 65 | 100% | $1,433 |
| 70 | 142% | $2,035 |
When Should You Start CPP?
Your retirement age greatly affects your payment. Here’s a breakdown:
- Start at 60: You’ll receive 36% less than the full benefit.
- Start at 65: You get 100% of your benefit.
- Start at 70: You get a 42% increase over the full amount.
Example:
- Bob delays until 70 and receives $2,035/month
- Susan starts at 60 and gets $916/month
Choosing your CPP start date is a strategic decision that should align with your health, finances, and retirement goals.
How to Apply for CPP
You must apply to receive CPP—it’s not automatic.
Apply Online
- Log into My Service Canada Account
- Submit your application and track progress
Apply by Mail
- Download Form ISP-1000
- Mail it to Service Canada
Apply In Person
- Visit your nearest Service Canada Centre
It’s best to apply at least 6 months before your desired start date.
Why Choose Direct Deposit?
Using direct deposit is the safest and fastest way to receive your payment. It minimizes delays, especially around holidays or weekends. Ensure your banking details are up to date within your My Service Canada Account.
What If Your CPP Payment Is Late?
If you don’t receive your payment within 5 business days of the due date:
- Call Service Canada at 1-800-277-9914
- Verify your banking info in your My Service Canada Account
Full CPP Payment Schedule – 2025
| Month | Payment Date |
|---|---|
| January | 29 |
| February | 26 |
| March | 27 |
| April | 26 |
| May | 28 |
| June | 28 |
| July | 29 |
| August | 27 |
| September | 25 |
| October | 29 |
| November | 26 |
| December | 22 |
The CPP $1,433 payment on June 28, 2025, marks a major income milestone for eligible Canadian retirees. Whether you’re already receiving benefits or planning to apply soon, understanding how the Canada Pension Plan works can help you make smart decisions for a secure retirement.
Use tools like My Service Canada Account, opt for direct deposit, and evaluate your start age carefully to maximize your CPP benefits.
FAQs
Do I automatically receive CPP at 65?
No, you must apply through My Service Canada Account or by submitting Form ISP-1000.
Can I receive CPP while still working?
Yes, you can receive CPP while working. You may also contribute to Post-Retirement Benefits (PRB) to increase future income.
Is CPP taxed?
Yes, CPP payments are taxable income and must be reported on your tax return. You can request tax to be deducted automatically.