There’s been a lot of buzz lately about whether Canada is raising its retirement age to 67 in 2025. Many Canadians are wondering: “Is this true? Will I have to wait longer for OAS, GIS, or CPP benefits?” Below is a detailed summary of what’s confirmed, what’s speculative, and what you need to know if you’re planning for retirement.
OAS Payment Set to Rise Again in October 2025: Check Amount, Eligibility & Payment Dates
Confirmed $666 Canada Child Benefit Payment September 2025 – Eligibility, Amounts, and Payment Dates
Current Retirement Age for Key Federal Benefits
- Old Age Security (OAS) is payable starting at age 65 for eligible individuals. You must be a Canadian citizen or legal resident, and have lived in Canada for at least 10 years after age 18. If you’re outside Canada, different residency rules apply.
- Canada Pension Plan (CPP) Retirement Pension also has a standard beginning age of 65. You do have the flexibility to start earlier (as young as 60) at reduced rates, or later (up to 70) which increases monthly payments.
Is the Age Increasing to 67?
As of now, there is no official announcement from the Government of Canada changing the retirement age for OAS, GIS, or CPP to 67. Rumors and media speculation have circulated, but they are not based on confirmed government policy.
Why the Rumors Are Circulating
Several reasons fuel the belief that the retirement age might rise in the future:
- Canada’s population is aging, and life expectancy has been increasing. That puts financial pressure on public pension programs.
- There have been discussions in policy think tanks and media about whether the current benefit ages are sustainable long term.
- Global trends: other countries have already raised retirement ages or are considering doing so, which contributes to speculation in Canada.
However, until legislation is passed or an official announcement is made, no changes are legally in effect.
Early or Delayed Claiming Options
Even without any age increase, there are choices you can make now to manage your retirement income:
- Start CPP Early (age 60-64): Yes, you can claim CPP before age 65, but your benefit is reduced. The earlier you begin, the greater the reduction.
- Delay CPP (after age 65): If you wait past 65 (up to 70), your monthly CPP increases. The increase is 0.7% per month delayed.
- Delay OAS: You cannot start OAS before 65, but you can delay beginning your OAS pension after age 65, which increases what you receive. However, this is optional and not mandatory.
If the Age Ever Changes
If the retirement age were ever to officially change to 67 (for OAS or other public benefits), you would likely see:
- A phased-in approach, giving future retirees advance notice
- Exemptions or allowances for certain groups (e.g., physically demanding jobs, or those already close to retirement)
- Legislation passed in Parliament, followed by implementation dates
- Public consultations and possibly parliamentary debates
Key Figures & Amounts in 2025
- OAS maximum monthly payment (for individuals aged 65-74) is about $734.95, with a higher rate for those 75+ or meeting other qualifying criteria.
- CPP retirement pension amounts: the average for new beneficiaries (at age 65) is about $844.53 per month, and the maximum is around $1,433.00 per month, depending on your contribution history.
What This Means If You’re Planning to Retire Soon
- As of 2025, plan using age 65 as the standard for CPP, OAS, and GIS eligibility.
- Consider your personal health, savings, and work plan if you think you might want to work longer or delay benefits.
- Keep up with official government updates for any confirmed changes.
- If you’re younger, start planning early, as any policy shift could affect people who haven’t yet retired—but again, nothing has been formally changed yet.