$1,764 CPP Boost Coming in June 2025 – See Who’s Eligible & When Direct Deposits Arrive
Canadian retirees and contributors to the Canada Pension Plan (CPP) can anticipate a significant benefit increase in June 2025, with some recipients seeing their monthly payments rise by up to $1,764.
This adjustment is part of the ongoing CPP enhancement initiative aimed at providing greater financial security during retirement. Understanding the eligibility criteria and payment schedule is crucial to ensure you receive the full benefit.
Understanding the $1,764 CPP Increase
The $1,764 increase refers to the maximum monthly CPP retirement pension amount available to eligible recipients starting in June 2025.
This increase results from the CPP enhancement program, which began in 2019 to gradually raise the income replacement rate from 25% to 33.33% of average pre-retirement earnings.
Additionally, the maximum earnings protected by the CPP have increased by 14% over 2024 and 2025, further boosting potential benefits.
Who Qualifies for the Increased CPP Benefit?
To be eligible for the enhanced CPP retirement pension, you must meet the following criteria:
- Age Requirement: You must be at least 60 years old.
- Contribution Requirement: You must have made at least one valid contribution to the CPP, either through employment in Canada or through credits received from a spouse or common-law partner after separation or divorce.
The actual amount you receive depends on your average earnings throughout your working life, the number of years you contributed to the CPP, and the age at which you start receiving your pension.
CPP Payment Schedule for 2025
CPP payments are typically issued on the third-to-last business day of each month. For June 2025, the direct deposit date is scheduled for June 26, 2025.
Below is the complete CPP payment schedule for 2025:
| Month | Payment Date |
|---|---|
| January | Jan 29, 2025 |
| February | Feb 26, 2025 |
| March | Mar 27, 2025 |
| April | Apr 28, 2025 |
| May | May 28, 2025 |
| June | Jun 26, 2025 |
| July | Jul 29, 2025 |
| August | Aug 27, 2025 |
| September | Sep 25, 2025 |
| October | Oct 29, 2025 |
| November | Nov 26, 2025 |
| December | Dec 22, 2025 |
Ensure your banking information is up to date with Service Canada to avoid any delays in receiving your direct deposit.
How to Apply for the Enhanced CPP Benefit
If you’re approaching retirement or planning to start receiving your CPP retirement pension, follow these steps:
- Determine Your Eligibility: Confirm that you meet the age and contribution requirements.
- Decide When to Start Receiving CPP: You can begin receiving CPP as early as age 60 or delay up to age 70. Delaying increases your monthly benefit.
- Apply Online or by Mail: Submit your application through your My Service Canada Account or by mailing a completed application form.
- Set Up Direct Deposit: Provide your banking information to receive payments directly into your account.
Processing times can vary, so it’s advisable to apply well in advance of when you wish to start receiving benefits.
The $1,764 CPP increase in June 2025 represents a significant enhancement to retirement income for eligible Canadians.
By understanding the eligibility criteria and ensuring your information is current with Service Canada, you can take full advantage of this benefit. Plan ahead to secure your financial future during retirement.
FAQs
How is the $1,764 CPP increase calculated?
The increase results from the CPP enhancement program, which raises the income replacement rate and the maximum earnings protected by the CPP. The exact amount you receive depends on your earnings history and contributions.
Can I receive CPP benefits while still working?
Yes, you can receive CPP retirement benefits while working. If you’re under 70 and continue to work, you can contribute to the CPP and receive additional post-retirement benefits.
What happens if I delay receiving CPP benefits?
Delaying CPP benefits past age 65 increases your monthly payment by 0.7% for each month delayed, up to a maximum of 42% at age 70. This can significantly boost your retirement income.