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The Old Age Security (OAS) program is a monthly benefit for seniors in Canada. For anyone over the age of 65, OAS is meant to help with monthly expenses and maintain a proper level of financial stability during retirement.
For many, this OAS payment helps handle bills, groceries, and other various financial obligations. But it’s important to understand when payments are made, and how much will be received, so you can plan accordingly.
OAS payments are issued monthly, typically on the third-to-last business day of each month. The schedule is intentionally predictable so that it helps seniors plan their budgets and manage their expenses. For 2025, these are the expected OAS payment dates:
January 29, 2025
February 26, 2025
March 27, 2025
April 28, 2025
May 28, 2025
June 26, 2025
July 29, 2025
August 27, 2025
September 25, 2025
October 29, 2025
November 26, 2025
December 22, 2025
*Please note that dates are subject to change
If a payment date falls on a weekend or holiday, Service Canada generally deposits the payment on the last business day before so that there are no delays in receiving funds.
You can receive your OAS payments by mail or direct deposit. If you want to make sure you always get them on time, your best bet is to set up direct deposit with Service Canada. It’s the fastest (and most reliable) way to get your funds.
Based on recent trends, the maximum OAS payment is expected to be around $691 per month in 2025. Of course, this is just an estimate for the time being, and the exact amount will depend on inflation adjustments made by the federal government.
The amount you receive from Old Age Security in 2025 depends on a few factors, like how long you’ve lived in Canada as an adult and whether you qualify for additional benefits.
Seniors who have lived in Canada for at least 40 years after turning 18 can qualify for the full amount. If you’ve lived in Canada for fewer years, your payment will be prorated based on your time in Canada.
The Guaranteed Income Supplement (GIS) provides additional support for low-income seniors. This benefit is available to Canadians who earn below a certain threshold and can add to their monthly income. Other OAS benefits include the Allowance for spouses of GIS recipients and the Allowance for the Survivor, which is meant to help widowed individuals.
If your income is higher, some or all of your OAS payments may be reduced through the OAS Clawback (more on that later).
The Old Age Security (OAS) program is a monthly benefit the Government of Canada provides to help seniors with their living expenses. It’s slightly different than the Canadian Pension Plan (CPP) because OAS doesn’t require you to have worked or paid into a pension plan to qualify. Instead, OAS is based on other factors like your age, residency status in Canada, and income level.
Most Canadians over the age of 65 will qualify for OAS. The amount you receive depends on how long you’ve lived in Canada as an adult. To qualify for “full payments,” you must have lived in Canada for at least 40 years after turning 18.
OAS has helped millions of seniors cover essential expenses like housing, food, and healthcare. For many, it serves as a stable source of income during retirement.
Applying for Old Age Security (OAS) is easy, but there are a few steps involved and things that you should do ahead of time to make it as seamless as possible.
First, the good news is that if you are turning 65, you should receive an automatic enrollment letter from Service Canada if they already have your information. If not, you’ll need to apply for OAS on your own to start receiving payments.
Thankfully, the application can be completed online through your My Service Canada Account (MSCA) or by submitting a paper form. To apply, you’ll need:
Proof of identity
Social Insurance Number (SIN)
Details about your residency in Canada.
It’s best to apply for OAS up to 11 months before your 65th birthday because processing times can vary and may take a few months. If you’re approved, your payments should begin the month after you turn 65.
If you’re already 65 and haven’t applied yet, you can still submit an application, but payments will only cover a limited retroactive period, which is why we can’t stress enough that you should complete it as soon as possible to get the most out of your OAS benefit.
If you have questions about the process, contact Service Canada for assistance.
OAS is designed to complement other retirement income sources, like the Canada Pension Plan (CPP), private pensions, and personal savings.
You can receive OAS and CPP at the same time because they fall under separate programs. That’s because CPP is based on your work history and contributions, whereas OAS is based on your age, residency, and income level.
Other things like employment income, RRSP withdrawals, and various retirement savings can also be used alongside OAS, but remember if your total income exceeds a certain threshold, you may face the OAS Clawback, which means a portion of your OAS payments will be reduced if your annual income is above the government-set limit. The limit is adjusted and different each year.
There’s also the Guaranteed Income Supplement (GIS) which is available as additional support. GIS payments are calculated based on your annual income and can be received alongside OAS.
Yes, OAS payments are considered taxable income. The amount you receive is added to your total income for the year, so it’s subject to federal and provincial taxes just like most sources of income.
The OAS Clawback (also known as the OAS Recovery Tax), reduces your OAS payments if your annual income exceeds a set threshold. For 2025, this threshold is expected to be around $86,000.
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