OAS Payment Schedule The Old Age Security (OAS) program is the cornerstone of Canada’s retirement income system. It provides a basic pension for individuals aged 65 and above who have been Canadian residents for at least 10 years after the age of 18. The amount of OAS benefit received depends on the duration of residency in Canada after turning 18. A full pension is typically granted to those who have resided in Canada for at least 40 years after turning 18, while a partial pension may be available for those with fewer years of residency. The OAS Payment Schedule 2024, including the $784.67 OAS Payment Dates for Every Month, can be found on this page.
OAS Payment Schedule 2024
The OAS Pension Plan, administered jointly by the CRA and the national government, is a fundamental component of Canada’s social support system, providing financial aid to individuals aged 65 and above. It is important for recipients to familiarize themselves with the specific OAS Payment Schedule for 2024, outlined below on this page. The commencement of OAS payments for 2024 is January 29, which is a critical date to note, as payments are due on the third last day of each month.
- 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
CRA OAS Payment Schedule 2024 Details
| Today’s Topic | OAS Payment Schedule 2024 |
| Country | Canada |
| Scheme Name | Old Age Security |
| OAS February 2024 Payment Date | February 27, 2024 |
| Category | Government Aid |
| OAS Payment Amount | $784.67 |
| Official Website | canada.ca |
About OAS Payment Schedule 2024
The OAS Payment Amount for 2024 has been increased to CAD 68,500 from CAD 66,600. The maximum monthly OAS benefit as of 2024 is $784.67 for individuals over the age of 75 and $713.34 for those between the ages of 65 and 74. People can check the status of their payment by visiting the official website of the Canada Revenue Agency. This increase in payment amount provides significant support to senior citizens, helping them maintain a decent standard of living during their retirement years. It is also important to note that eligibility criteria apply when it comes to receiving OAS benefits, and one must meet certain conditions to receive this financial assistance.
Understand OAS in Canada
- The Canadian government decided to take action to safeguard the elderly population in the country by implementing a law that provides financial aid to individuals aged 65 and above for emergency medical expenses and essential needs. To effectively implement the OAS and implement the plan, the Canadian government opted to collaborate with federal agencies.
- Canadian seniors are looking to receive important financial aid through the Old Age Security Pension Scheme, which is divided into two age-specific groups. The guidelines set by the Canadian federal government make it clear that individuals over the age of 18 can apply for the program.
- Before applying for OAS 2024, individuals should understand the terms, conditions, advantages, disadvantages, and eligibility criteria for full or partial pension based on age, national residence, and income. The partial pension is accessible to individuals who have resided in Canada for 10–20 years without proof of long-term residency, while full pension is available to those who have lived in the nation for at least 40 years.
$784.67 OAS Payment Dates for Every Month in 2024
Individuals aged 75 or older will receive a maximum monthly benefit of $784.67, while those aged 65 to 74 will receive $713.34. An increase in the OAS payout amount is scheduled for January 1, 2024, to align with changes in the Consumer Price Index (CPI) due to inflation. If you have not received a letter and want to verify your eligibility, you can apply online, call 1-800-277-9914, or visit a Service Canada location. Creating a My Service Canada Account (MSCA) also provides instant access to the application process.
How much payment to expect?
The Old Age Security (OAS) program in Canada is set to provide OAS Payment 2024 to eligible Canadians in order to support their livelihood. The program aims to ensure that seniors have a basic income, and the OAS Payment Amount 2024 has been increased to CAD 68,500 from CAD 66,600 as of January 1, 2024. The maximum monthly OAS benefit for individuals over 75 is $784.67, while those between 65 and 74 receive $713.34. To check the status of their payment, individuals can visit the Canada Revenue Agency’s official website and log in to their MSCA account.
| Year | MMB (Age 65 to 74) | MAB (age 65 to 74) | MMB (Age 75 or older) | MAB (age 75 or older) |
|---|---|---|---|---|
| 2024 | $713.34 | $8,560.08 | $784.67 | $9,416.04 |
| 2023 | $687.56 | $8,250.72 | $778.45 | $9,341.40 |
| 2022 | $642.25 | $7,707.00 | ||
| 2021 | $615.37 | $7,384.44 | ||
| 2020 | $613.53 | $7,362.36 | ||
| 2019 | $601.45 | $7,217.40 | ||
| 2018 | $586.66 | $7,039.92 | ||
| 2017 | $578.53 | $6,942.36 | ||
| 2016 | $570.52 | $6,846.24 | ||
| 2015 | $563.74 | $6,764.88 | ||
| 2014 | $551.54 | $6,618.48 | ||
| 2013 | $546.07 | $6,552.84 | ||
| 2012 | $540.12 | $6,481.44 | ||
| 2011 | $524.23 | $6,290.76 |
Conclusion
How much is OAS in Canada in 2024?
| Post Topic | OAS Increase 2024 |
|---|---|
| Category | Government Aid |
| OAS Amount in 2023 | $66500 |
| OAS Amount in 2024 | $68500 |
| Official Website | canada.ca |