Old Age Security (OAS) is one of the main backbone of the retirement system in Canada. It tries to provide sufficient support to pensioners across the country. Being a taxable monthly payment provided to the senior citizens of Canada when they reach the age of 65, it financially supports people in this hard economic time. Due to the rise in the amount of almost all the essential items and services, the government of Canada decided to increase the amount of OAS.
The recipients of OAS would see an increase in the amount between July 2024 and September 2025. It is anticipated that the amount will increase to up to 3.5%. The Consumer Price Index (CPI) and the average income of Canadian workers decide the amount of the OAS. The Old Age Security payment tries to provide adequate support to the low-income senior citizens of the country.
Highlights of OAS Increase 2025
| Title | OAS Increase in 2025 |
| Country | Canada |
| Department | Canada Revenue Agency |
| Expected Dates | Between July 2024 and September 2025 |
| Beneficiaries | Senior Citizens of Canada |
| Estimated Maximum Payment | $813.7 |
| Estimated Increase | 3 to 3.5% |
| Post Category | Finance |
| Official Website | https://www.canada.ca/ |
Eligibility Criteria
People qualifying these below factors of eligibility are likely to receive the benefit of OAS:
- People must have their Social Insurance Number with them.
- After 18 years of age, they lived in the country for at least 10 years.
- Recipients must have their residential documents with them, ensuring their residency in the country.
- People must have reached the age of retirement, i.e., 60 and above.
- If someone has lived in the country for less than 10 years, then they are eligible for the partial payment of OAS.
- People must be filing their income tax return every year.
Increase in OAS in 2025
An estimated increase of 3 to 3.5% is expected in the payment of OAS. $813.7 is the expected amount of OAS for the 75 years old and above. Recipients who come in the age group of 65-74 will receive $739.54 in 2025. However, please keep in mind that there is no official announcement of exact increase in the OAS amount.
The payment frequency will remain the same in 2025. As per the current data, the expected increase in the amount of OAS is 3.5%.
As the inflation level and the cost of living is rising, it is crucial to increase the amount of these pension benefits.
Claiming Process of Old Age Pension Benefit in 2025
- Go to the official website of CRA and log in to “My Service Canada Account”.
- Choose the option of OAS, you will receive an application form.
- Mention all your essential information in the form including social insurance number, residential documents, and bank information.
- Before submitting the form, double check the information to avoid becoming a victim of misinformation.
- After receiving your application, the CRA reviews your application and sends you a confirmation letter which has the start date and payment amount mentioned on it.
If you have not received the letter, then check the email, CRA might have sent a mail informing about the delay.
| Home Page | https://www.easthamptonchamber.com/ |
FAQs of OAS Increase 2025
The purpose of OAS is to provide adequate financial support to the pensioners of the country.
According to the current situation of inflation, the OAS is expected to increase to up to 3.5%.
No, there will be no changes in the frequency of the OAS payment.
Riya Claire is the Editor-in-Chief of the East Hampton Chamber Portal. She holds a degree in Mass Communication, an MBA in Finance, and a diploma in HR, making her a versatile professional for an online portal