Pension pay dates and direct deposit

To help make your monthly planning easier, we’ll pay your pension on the same day each month – the 22^nd – and if the date falls on a holiday or a weekend, you’ll receive your pension payment the business day before.

Check out the pay schedule below:

2024 Pay Dates

Download a printable version of the pay schedule (PDF).

Important: If you receive your pension payments by direct deposit, your payment will be deposited into your account on the dates shown in the list above.

Direct Deposit

Receive your monthly pension payment more conveniently with direct deposit. If you are signing up for the first time, or are simply changing your banking information, you can now do so online using our Secure Document Upload function on e-services. Banking information changes will be effective the following month it is received by OPB at the latest.

1. Complete a OPB1004 – Retired Member Information Change Form (PDF) form. Your bank or institution representative will have to complete some sections unless you provide a VOID personal cheque or other valid bank slip.
2. Sign and date the form.
3. Follow the instructions on e-services to use the Secure Document Upload to send them electronically.
4. Remember to select ‘Direct Deposit Information’ from the drop-down list when submitting it online.

You can also mail the form and cheque to us if you prefer.

Leaving Canada?

If you’re living outside Canada and have signed up for U.S. direct deposit or foreign direct deposit, your pension payment will be deposited in your local currency. Because currency conversion rates fluctuate daily, the amount of money deposited into your account will vary from month to month. The conversion rate from Canadian dollar to local currency is at the market rate at the time the money is transferred from our payment provider to your bank. Banking information changes will be effective the following month it is received by OPB at the latest.

Note: While our payment provider does not deduct processing fees from your monthly pension, your local bank may charge you a fee for receiving the money.

If you move to the U.S.

1. Complete a OPB1095 – U.S. Direct Deposit Authorization (PDF) form. Your bank or institution representative will have to complete some sections.
2. Sign and date the form.
3. Follow the instructions on e-services to use the Secure Document Upload to send them electronically.
4. Remember to select ‘Direct Deposit Information’ from the drop-down list when submitting it online.

You can also mail the form and cheque to us if you prefer.

If you move outside of Canada and the U.S.

We’re currently expanding our direct deposit service to include more countries. Call us to learn more about the list of countries we offer direct deposit to.

If your country is on the list, you’ll need to:

1. Complete a OPB1096 – Foreign Direct Deposit Authorization (PDF) form. Your bank or institution representative will have to complete some sections.
2. Sign and date the form.
3. Follow the instructions on e-services to use the Secure Document Upload to send them electronically.
4. Remember to select ‘Direct Deposit Information’ from the drop-down list when submitting it online.

You can also mail the form and cheque to us if you prefer. Banking information changes will be effective the following month it is received by OPB at the latest.

Questions?

If you have any other questions, please contact us.