Old Age Security payments landing now, rates change next month
This month's deposit is the last at current amounts before July's inflation adjustment takes effect.
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Quebec seniors have another Old Age Security deposit coming later this month—and it arrives just before rates shift.
Service Canada adjusts OAS amounts four times yearly (January, April, July, October) to keep payments in step with inflation through the Consumer Price Index. The rates that have been in place since April remain unchanged through the end of June. What hits accounts this month will be the last payment at the current amounts before July's adjustment takes effect.
OAS is the federal government's foundational pension program for seniors, paid monthly regardless of employment history or career contributions—a key distinction from the Canada Pension Plan, which ties to workplace participation.
Eligibility is straightforward: you need to be at least 65 years old, hold Canadian citizenship or legal resident status, have lived in Canada for a minimum of 10 years after turning 18, and meet income thresholds (under $148,451 for ages 65 to 74; under $154,196 for ages 75 and older, based on 2024 income).
For those with limited incomes, the Guaranteed Income Supplement provides additional monthly support. Single, widowed or divorced seniors with annual income below $22,512 qualify. Couples both receiving full OAS qualify with combined income below $29,712.
Most people are enrolled automatically by Service Canada around age 64. For those not yet registered, applications can be submitted online through My Service Canada Account or in person at a Service Canada office. Delaying payments until age 70 permanently boosts monthly amounts by 0.6 per cent for every month you wait—7.2 per cent more per year.