Old Age Security payments go out soon — here's how much $ you can receive
Read all the details below. 👇
A person holding a Canada Revenue Agency envelope with a Canadian $50 bill inside.
As April nears its end, there are still several Government of Canada benefits and credits expected to be paid out this month, including the Old Age Security (OAS) benefit.
The Old Age Security pension is a monthly benefit available for individuals aged 65 and above. Service Canada typically automatically enrolls eligible individuals for the OAS pension based on available information. You'll receive a notification if you're automatically enrolled, per the Canada Revenue Agency (CRA).
The next payment for the Old Age Security goes out on April 26, 2024.
Here are all the details about the Old Age Security and how much you can receive this month.
Who is eligible for Old Age Security?
According to the Canada Revenue Agency, qualifying for OAS is based on age and residency criteria. Your employment history doesn't affect eligibility; you can receive OAS pension regardless of work status.
If you're in Canada, you must be 65 or older, a Canadian citizen or legal resident upon approval, and have lived in Canada for at least 10 years since age 18.
If you're outside Canada, you still qualify if you're 65 or older, were a citizen or legal resident before leaving Canada, and have resided in Canada for at least 20 years since age 18.
How to apply for Old Age Security
If you received a letter prompting you to apply or notice any inaccuracies in correspondence, you must submit an application to receive the federal benefit, per the CRA.
If you didn't receive notification by the month following your 64th birthday, you should contact the CRA for guidance. If eligible you can apply online — provided you're at least a month past your 64th birthday and not currently receiving OAS, or haven't already applied (or Service Canada isn't assessing your application).
How much can you receive from Old Age Security?
Starting in July 2022, individuals aged 75 or older will receive a 10% automatic increase to their Old Age Security pension. If you're already 75 or older by June 2022, this increase applies immediately. For those turning 75 after July 1, 2022, the increase kicks in the month following their 75th birthday.
According to the CRA, those aged 65 to 74 years old can receive up to $713.34, while those aged 75 and over can receive up to $784.67 per month.
When do Old Age Security payments go out?
The Old Age Security payments go out near the end of each month, between the 26th and 29th.
Here are all of the payment dates for all of 2024:
- April 26, 2024
- May 29, 2024
- June 26, 2024
- July 29, 2024
- August 28, 2024
- September 25, 2024
- October 29, 2024
- November 27, 2024
- December 20, 2024
This article's cover image was used for illustrative purposes only.
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