The Canada Revenue Agency (CRA) administers several benefit programs to support Canadians, including the Canada Pension Plan (CPP), Old Age Security (OAS), Guaranteed Income Supplement (GIS), and the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit.
Understanding the February 2025 deposit dates for these programs is essential for effective financial planning.
February 2025 Payment Schedule
| Benefit Program | Payment Date |
|---|---|
| Canada Pension Plan (CPP) | February 26, 2025 |
| Old Age Security (OAS) | February 26, 2025 |
| Guaranteed Income Supplement (GIS) | February 26, 2025 |
| GST/HST Credit | April 4, 2025 |
Canada Pension Plan (CPP)
The CPP provides monthly payments to individuals who have contributed to the plan during their working years. Eligibility typically begins at age 60. The February 2025 CPP payment is scheduled for February 26, 2025.
The amount received depends on factors such as the duration and amount of contributions and the age at which you start receiving benefits.
For 2025, the maximum monthly amount for new recipients starting at age 65 is estimated to be approximately $1,364.60.
Old Age Security (OAS)
OAS is a monthly benefit available to seniors aged 65 and older. The February 2025 OAS payment is also set for February 26, 2025.
The amount is determined by the number of years lived in Canada after the age of 18. As of the last quarter of 2024, the maximum monthly OAS payment was $727.67 for individuals aged 65 to 74 and $800.44 for those aged 75 and over. These amounts are subject to quarterly adjustments based on the Consumer Price Index.
Guaranteed Income Supplement (GIS)
The GIS provides additional financial assistance to low-income seniors receiving OAS. The GIS payment for February 2025 is scheduled alongside OAS on February 26, 2025.
The amount varies depending on marital status and income. For single seniors, the maximum monthly GIS payment is approximately $1,065.47, while for couples, it can be up to $1,437.41, depending on the combined income.
GST/HST Credit
The GST/HST credit is a tax-free quarterly payment designed to help individuals and families with low or modest incomes offset the GST or HST they’ve paid.
The next payment after February 2025 is scheduled for April 4, 2025. Eligibility and payment amounts are determined based on your annual income tax return.
For the period from July 2024 to June 2025, the maximum annual credit was $496 for singles and $992 for couples, plus $179 for each child under 19. These amounts are subject to annual adjustments.
Tips for Ensuring Timely Payments
To ensure you receive your benefits without delay:
- Enroll in Direct Deposit: This is the fastest and most secure method to receive payments. You can set up direct deposit through your CRA My Account or by contacting Service Canada.
- Keep Personal Information Updated: Ensure that your address, banking information, and marital status are current with the CRA and Service Canada to prevent any disruptions in payment.
- File Taxes Promptly: Timely filing of your income tax return is crucial, as many benefits are calculated based on your reported income.
Being aware of the February 2025 CRA direct payment dates for CPP, OAS, GIS, and the GST/HST credit is essential for effective financial planning.
By staying informed and ensuring your personal information is up-to-date, you can manage your finances more efficiently and avoid potential disruptions in benefit payments.
FAQs
When will I receive my CPP and OAS payments in February 2025?
Both CPP and OAS payments are scheduled for February 26, 2025.
How is the GST/HST credit amount determined?
The GST/HST credit amount is based on your family income and the number of children under 19. For the period from July 2024 to June 2025, the maximum annual credit was $496 for singles and $992 for couples, plus $179 per child.
What should I do if I don’t receive my payment on the scheduled date?
If you haven’t received your payment within five business days after the scheduled date, contact the CRA or Service Canada for assistance.