The next Old Age Security (OAS) payments are coming, and this time they’re arriving a little earlier before the holidays this December. Whether you might need them for those last-minute holiday plans or keeping up with the end of the year, here’s what you need to know about the upcoming payments.
Old Age Security
OAS payments are meant for Canadian citizens aged 65 and older. It’s the government’s way of supporting seniors throughout their later years, a benefit that they receive no matter where they worked or how much they’ve saved up for retirement. Most people do not have to apply for the OAS, as they are automatically enrolled if Service Canada already has their eligibility information. But if a month has passed since your 64th birthday, you may need to apply manually.
Here’s the criteria to qualify for OAS pension payments:
- You must be 65 years or older.
- If you are living in Canada, you must:
- Be a Canadian citizen or a legal resident at the time we approve your OAS pension application
- Have resided in Canada for at least 10 years since the age of 18
- If you are living outside Canada, you must:
- Have been a Canadian citizen or a legal resident of Canada on the day before you left Canada
- Have resided in Canada for at least 20 years since the age of 18
You must also submit a tax return each year to receive your OAS pension.
How Much Can I Receive?
Your payment amount depends on a number of factors. This includes your age, residence, and income. Older Canadians will be eligible for increased pensions, and those who have lived in Canada for less than 40 years may only receive a partial pension.
The maximum payment amounts and income thresholds look like this:
- Age 65 to 74: maximum monthly payment amount of $740.09
- To receive the OAS, your annual net world income in 2024 must be less than $148,451
- Age 75 and over: maximum monthly payment amount of $814.10
- To receive the OAS, your annual net world income in 2024 must be less than $154,196
Do note that the maximum amounts are not guaranteed, as the actual pension amounts may differ depending on age, income, and how long you have resided in Canada for.
For December, OAS pension payments will be coming on December 22, 2025. If you’re curious about how much you can receive, you can use this calculator to estimate your benefits.
