Canadian seniors can look forward to an Old Age Security (OAS) payment of up to $2,120 in January 2025.
This benefit provides essential financial support for retirees, helping them cover housing, healthcare, and daily expenses.
If you’re wondering who qualifies, when payments will arrive, and how to maximize your OAS benefits, this guide has everything you need to know.
What Is the OAS Program?
The Old Age Security (OAS) program is a government-funded pension that provides monthly payments to eligible Canadian seniors aged 65 and older.
Unlike the Canada Pension Plan (CPP), OAS is not based on work history or contributions—it is funded by general tax revenues.
✔ Base OAS pension: Available to all eligible seniors.
✔ Guaranteed Income Supplement (GIS): Extra support for low-income seniors.
✔ Allowance & Survivor Benefits: Support for spouses and widows aged 60–64.
📌 Key Benefits for January 2025:
| Benefit Type | Maximum Monthly Payment (2025) |
|---|---|
| OAS (65–74 years) | $713.34 |
| OAS (75+ years) | $784.67 |
| Guaranteed Income Supplement (GIS) | Up to $1,026.96 |
| Allowance (60–64 years) | Up to $1,319.48 |
✔ Total Maximum Monthly Payment: Up to $2,120 (for seniors who qualify for OAS + GIS + Allowance).
Who Is Eligible for OAS Payments in 2025?
To qualify for OAS payments, seniors must meet the following requirements:
1️⃣ Age Requirement
✔ You must be at least 65 years old.
✔ You can defer OAS payments up to age 70 to receive higher monthly amounts.
📌 Tip: If you delay OAS, payments increase by 0.6% per month (7.2% per year).
2️⃣ Residency Requirement
✔ You must have lived in Canada for at least 10 years after turning 18 to qualify for a partial OAS pension.
✔ To receive full OAS benefits, you must have lived in Canada for 40+ years after age 18.
📌 Living outside Canada? You can still receive OAS if you have lived in Canada for at least 20 years after turning 18.
3️⃣ Income Threshold (OAS Clawback Rules)
✔ OAS is subject to a “clawback” if your income exceeds $86,912 (2024 limit).
✔ For every $1 over this amount, OAS payments are reduced by 15 cents.
📌 Example: If your income is $100,000, your OAS benefit will be partially reduced.
✔ OAS is fully eliminated if your income exceeds $142,609 (for 2024, this may increase slightly in 2025).
💡 Low-income seniors can receive additional benefits through GIS, even if they qualify for OAS.
Guaranteed Income Supplement (GIS) – Extra Support for Low-Income Seniors
✔ The Guaranteed Income Supplement (GIS) provides additional financial support to seniors with low incomes.
✔ Eligibility:
- Single seniors: Income must be below $20,784 (2024 limit).
- Married couples: Combined income must be below $27,552 (if both receive OAS).
✔ Maximum GIS benefit (2025): Up to $1,026.96 per month.
📌 Example: A single senior earning $15,000 per year would qualify for full GIS payments, bringing their total monthly OAS + GIS payment to over $1,700.
Allowance & Survivor Benefits (For Seniors Aged 60–64)
✔ If you are aged 60–64 and your spouse receives OAS and GIS, you may qualify for the Allowance.
✔ If you are widowed (age 60–64), you may qualify for the Allowance for the Survivor.
✔ Maximum monthly payment (2025): Up to $1,319.48.
📌 Who Should Apply?
✔ Seniors with low household income.
✔ Widows or widowers aged 60–64.
When Will You Receive Your OAS Payment in January 2025?
OAS payments are issued at the end of each month.
📌 Expected OAS Payment Date for January 2025: January 29, 2025 (based on past schedules).
✔ Direct deposit: Arrives same day in your bank account.
✔ Mailed cheques: May take longer—allow 5–10 business days for delivery.
💡 Tip: Sign up for direct deposit to avoid delays!
How to Apply for OAS Payments
If you’re turning 65 soon, follow these steps to apply for OAS benefits:
Step 1: Check for Automatic Enrollment
✔ Some seniors are automatically enrolled in OAS.
✔ You will receive a letter from Service Canada confirming enrollment.
✔ No letter? You’ll need to apply manually.
Step 2: Apply for OAS
✔ Online: Apply through My Service Canada Account.
✔ By Mail: Download the OAS application form and mail it to Service Canada.
✔ In-Person: Visit a local Service Canada office.
📌 When to Apply: 6 months before your 65th birthday to ensure timely payments.
How to Maximize Your OAS Benefits
💡 Strategies to get the most from your OAS payments:
✔ Delay OAS until 70 – Payments increase by 7.2% per year.
✔ Apply for GIS if eligible – Extra $1,026.96 per month for low-income seniors.
✔ Split pension income with your spouse – Reduces taxable income and prevents OAS clawbacks.
✔ Move to a lower-tax province – Some provinces tax retirement income less.
📌 Example: If you delay OAS from 65 to 70, your monthly payment increases from $713 to $950+ per month.
✔ January 2025 OAS Payment: Up to $2,120 (OAS + GIS + Allowance).
✔ Payment Date: January 29, 2025 (direct deposit recommended).
✔ Eligibility: Based on age, residency, and income levels.
✔ Apply 6 months before turning 65 to avoid delays.
📌 Need Help? Contact Service Canada or visit Canada.ca for more details.
