Seniors in Canada received a small boost in their OAS pension in the summer of 2022 when they were paid a one-time $500 payment.
This increase was part of changes proposed in Budget 2021 “to improve the financial security of Canadians in retirement after a lifetime of hard work.”
Unfortunately, seniors will not see increases in their OAS benefits in the first quarter of 2025 based on indexing to inflation or the Consumer Price Index (CPI).
Who is Eligible for the OAS Increases in 2025?
Starting in July 2022, older Canadians aged 75 and older saw a 10% increase in their monthly OAS pension payment.
If you are a current recipient of OAS, you will notice that your January 2025 payment will be similar to your regular benefits for the October to December 2024 quarter. This reflects the lower inflation rate and quarterly indexing to the Consumer Price Index.
How Much OAS Will You Get?
The maximum OAS benefit from January to March 2025 is $727.67 per month for seniors aged 65 to 74.
The maximum OAS benefit for those aged 75 and above remains $800.44 monthly for the January to March 2025 payment period.
Conclusion
The OAS is one of the pillars of retirement income in Canada.
You get the full regular OAS amount if you have lived in Canada for at least 40 years since turning 18. If you do not meet the 40-year requirement, you get a partial payment.
Seniors can choose to delay OAS for up to 5 years in exchange for higher payments.
Lower-income seniors may qualify for OAS and the Guaranteed Income Supplement.
Learn more about retirement income sources:
Everyone I talked to who’s on AOS all send it went down not up.
Why did both my wife and my Oas GIc payment go down by almost 18:00 each in July 2024. Ridiculous They SAID WE SHOULD GET AN INCREASE. wHATS UP fOR US 35.00 A MONth hurts.
The government should do you right think give every senior ten percent it a shame that they give increase to only 75years please be kind every senior deserved. The increase now thanks
the minister said if he got back in office all seniors under 75 would get the 500 dollars. well he is back in office and know one under 75 got the money.this is so unfair to all of us that could use this money. he needs to change how he takes yo the seniors. lie hurt so many people.
I turn 75 in April 2023. I am told I will not receive the $500. I will get the increase of 10%. Why is this happening? Everyone 65 and older should get the same. We are all seniors. The PM made a huge mistake with how this was handled.
Theresa Barry.
i to thought old age was from 65 but gee i was mistaken as far as i can see senior starts at 75 not 65 wake up federals
What I think is someone (lawyer) should take the government to court and sue for discrimination. When we paid into the pension plan it was all the same rules for all seniors. You can’t change that and only include some seniors. If you want to top up seniors with cost-of-living increase, you must do so with all seniors not just some in an age group. Some of us will die before we even get to seventy-five. My husband and I are just two of the seniors that have a shortened life expectancy because of multiple medical issues.
Why did seniors 75 and older get a 10% OAS increase?
Those of us under 75 deserve and need it !
It’s discrimination!
I contacted the Minister of Seniors to ask why. She has not responded. Disappointing!!