Here are the OAS payment dates for 2024:
- January 29, 2024
- February 27, 2024
- March 26, 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
Source: Benefit Calendar
Old Age Security Payment Amounts
If you’re eligible for Old Age Security (OAS), your payment amount will depend on the length of time you’ve lived in Canada or other countries after the age of 18.
The maximum monthly amount you could receive from April to June 2024 if you are between the ages of 65 and 74 is $713.34. If you are 75 years or older, this maximum monthly amount increases to $784.67.
If you’ve lived in Canada for under 40 years (counted after the age of 18), then you’ll receive a partial amount.
You can find that amount by dividing the number of years you’ve lived in Canada by 40.
So, for example, if you’ve lived in Canada for 30 years after the age of 18, you’ll be eligible for 75% (30 divided by 40) of the OAS payment amount.
There are additional benefits that you can also receive based on meeting certain eligibility requirements.
With the GIS Allowance, you and your spouse could get up to $1,354.69 (including GIS and OAS) if you and your spouse’s combined income is less than $39,984.
If your partner has passed and your income is less than $29,112, you could be eligible for the Allowance for the Survivor, which pays a maximum monthly amount of $1,614.89.
If you have questions about any of these programs or your eligibility, you can contact OAS directly here.
What is OAS and Who is Eligible for the Benefit?
Old Age Security (OAS) is a monthly benefit for Canadians who are over the age of 65 years old.
It doesn’t matter whether you’ve worked before or whether you’re still working – you can receive the benefit regardless.
You must be at least 65 years old to be eligible, but the other eligibility requirements will vary based on whether you live in Canada or not.
If you live in Canada, you must:
- Be a legal resident or citizen of Canada by the time your application for OAS gets approved
- Have lived in Canada for a minimum of 10 years from the age of 18
If you live outside of Canada, you must:
- Have been a legal resident or citizen of Canada on the day prior to you leaving Canada
- Have lived in Canada for a minimum of 20 years from the age of 18
If you’ve spent some time working abroad for a Canadian company, you could potentially have that time qualify for years lived in Canada for the purposes of OAS.
You can find more information on that here.
How Do I Apply for Old Age Security?
Most of the time, Service Canada will automatically enroll you for OAS – other times, you’ll have to apply yourself.
If you need to apply, then in the month after you turn 64 years old, you’ll receive a letter from Service Canada asking you to apply for OAS.
If you don’t receive one, or if the one you’ve received has incorrect information, you may need to apply.
To apply, you can either do it online through your My Service Canada account, or by mailing in the Application for the OAS and the GIS (ISP-3550) along with certified true copies of the required documents, or by submitting it in person to a Service Canada office.
How is the OAS Payment Calculated?
OAS payment amounts vary based on the Consumer Price Index (CPI) – so if the cost of living increases, so will the OAS payments.
The payments are reviewed and assessed quarterly in January, April, July and October.
Definition
Consumer Price Index (CPI): a measure of the rate of price change for goods and services bought by consumers (Source: Old Age Security Payment Amounts)
