As Canadians age, many find themselves facing increased financial pressures due to rising living costs, medical bills, and other essential expenses.
The Old Age Security (OAS) program, administered by the Canada Revenue Agency (CRA), offers monthly financial support to those aged 65 and older.
With the upcoming OAS payment increase in April 2025, eligible seniors can expect a substantial boost in their monthly benefits, providing much-needed financial relief.
OAS Payment Increase Overview for April 2025
The Canadian government is set to increase Old Age Security payments to help seniors cope with rising costs of living.
This increase is designed to support those who have reached the age of 65, as well as those 75 and older, with higher payments starting in April 2025.
The OAS payment boost, coupled with other government aid programs, is aimed at alleviating financial hardship for seniors across Canada.
Eligibility Criteria for OAS Benefits
To qualify for OAS benefits, individuals must meet specific criteria set by the CRA. Below are the key requirements for eligibility:
- Age Requirement: Canadians must be 65 years of age or older to qualify for OAS.
- Residency Requirement: Applicants must have lived in Canada for at least 10 years after the age of 18 to be eligible for full OAS benefits. Partial benefits may be available for those who have lived in Canada for fewer than 40 years.
- Income Limit: OAS payments may be reduced or clawed back for higher-income individuals. There are specific income thresholds set by the CRA that must be met to qualify for the full OAS benefit.
Additionally, individuals who are 75 or older will see a 10% increase in their monthly OAS payments.
How Much Could the OAS Payment Increase Be in April 2025?
The OAS payment increase in April 2025 will provide much-needed financial relief to seniors.
The government aims to ensure that seniors have the resources they need to meet basic living expenses, including housing, groceries, and medical costs. The following outlines the expected increases in OAS payments based on age:
- For individuals aged 65 to 74: The OAS monthly payment is expected to reach $727.67.
- For individuals aged 75 and older: The payment will increase to $800.44, representing a 10% increase.
In addition to OAS, other financial assistance programs such as the Guaranteed Income Supplement (GIS), the Allowance, and the Allowance for Survivors will contribute to increased monthly benefits.
Additional Government Benefits to Help Seniors
Alongside OAS, several additional government programs are available to provide financial support for seniors:
- Guaranteed Income Supplement (GIS): GIS payments can provide up to $1,086.88 per month for low-income seniors.
- Allowance: For seniors aged 60 to 64 who are married or common-law with a senior receiving OAS, the Allowance can provide up to $1,381.90 per month.
- Allowance for Survivors: Widowed seniors aged 60 to 64 may qualify for the Allowance for Survivors, which can offer up to $1,647.34 per month.
These programs, when combined with OAS, can help seniors maintain a reasonable standard of living in their retirement years.
OAS Payment Schedule for April 2025
Seniors can expect to receive their OAS payments on the following dates:
| Program | Payment Date |
|---|---|
| OAS | April 28, 2025 |
| GIS | April 28, 2025 |
| Allowance | April 28, 2025 |
| Allowance for Survivors | April 28, 2025 |
Payments will be made either by direct deposit or paper check, depending on the beneficiary’s chosen method of payment.
The OAS payment increase in April 2025 is a significant step toward helping seniors manage the challenges of rising living costs.
With increased payments for those 75 and older, as well as the addition of GIS and other allowances, the government is taking steps to ensure that older Canadians are financially supported in their later years.
Seniors who are eligible for OAS should keep an eye on the payment dates and ensure they meet the necessary criteria to receive their full benefits.
FAQs
How much will the OAS payment increase in April 2025?
The OAS payment for individuals aged 75 and older will increase to $800.44 per month, while those aged 65 to 74 will receive $727.67.
What is the Guaranteed Income Supplement (GIS)?
GIS is a financial assistance program for low-income seniors, providing additional support on top of OAS, with monthly payments of up to $1,086.88.
When will seniors receive their OAS payments in April 2025?
OAS payments for April 2025 will be made on April 28, 2025, and can be received by direct deposit or paper check.
I keep reading about this increase it was supose to be last month now it’s this month is it really coming or am I just going to read read about coming