Old Age Security Canada: Canada’s Old Age Security payments have reached $808.45 per month for seniors aged 75 and over, reflecting the government’s quarterly inflation adjustment. This increase highlights ongoing efforts to support older Canadians facing rising living costs. The updated rate became effective in 2026 under the regular review system.
Old Age Security, commonly known as OAS, is a monthly pension paid to eligible Canadians aged 65 and older. Unlike employment-based pensions, OAS is funded through general tax revenues and is based mainly on age and residency history rather than work contributions.
Canada Old Age Security Payment Reaches $808.45
In 2026, seniors aged 75 and over can receive up to $808.45 per month under the Old Age Security program. This amount reflects the built-in 10 percent increase introduced for individuals in this age group.
For seniors aged 65 to 74, the maximum monthly payment is about $734.95. Payment amounts are reviewed every quarter to ensure they keep pace with inflation and changes in the cost of living.
What Is Canada Old Age Security Pension Program
Old Age Security is a government-funded monthly pension available to Canadians aged 65 or older. It is not tied to employment history, making it different from the Canada Pension Plan.
Also Read: 2026 Social Security Revision Brings 2.8% Increase And Bigger Monthly Checks From February 2026
The benefit is financed through general tax revenue. Eligibility depends mainly on age, citizenship or legal status, and the number of years lived in Canada after turning 18.
Overview
| Key Detail | Information |
|---|---|
| Program Name | Old Age Security |
| Maximum Payment Age 75+ | $808.45 per month |
| Maximum Payment Age 65–74 | $734.95 per month |
| Eligibility Age | 65 years and older |
| Residency Requirement | At least 10 years after age 18 |
| Payment Frequency | Monthly |
| Adjustment Method | Quarterly inflation review |
| Tax Status | Taxable benefit |
| Extra Support | Guaranteed Income Supplement available |
| Typical Payment Timing | Last business day of the month |
OAS Eligibility Requirements for Seniors in Canada
To qualify for Old Age Security, a person must be at least 65 years old. Applicants must also be Canadian citizens or legal residents at the time their application is approved.
Individuals living in Canada must have resided in the country for at least 10 years after turning 18. Longer residency may be required to receive the full pension amount.
Also Read: IRS 2026 Filing Season Update Reveals Sharp Spike in Phone Traffic and Higher Refund Trends
Quarterly Inflation Adjustments to OAS Payments
OAS payment amounts are reviewed four times a year. These reviews are based on inflation data to protect seniors from rising living costs.
If the cost of living increases, monthly benefits are adjusted upward. Payments do not decrease even if inflation falls during a review period.
Monthly OAS Payment Dates and Schedule Details
Old Age Security payments are issued once every month. They are generally deposited on the last business day of each month.
For example, payments in late 2025 and early 2026 were scheduled toward the end of each month. Direct deposit is commonly used for faster access to funds.
Difference Between OAS Payments for Age Groups 65–74 and 75 Plus
Seniors aged 75 and older receive a higher monthly payment than those aged 65 to 74. This increase was introduced to provide additional financial support to older Canadians.
The higher rate represents about a 10 percent boost compared to the standard amount. The difference aims to help cover increased expenses often faced at advanced ages.
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Is Old Age Security Taxable in Canada
Old Age Security payments are considered taxable income. Seniors must report these amounts when filing their annual tax returns.
Higher-income recipients may be required to repay part or all of their OAS through a recovery tax. This repayment is based on total annual net income.
Guaranteed Income Supplement and Additional Senior Benefits
Low-income seniors may qualify for the Guaranteed Income Supplement, also known as GIS. This benefit provides additional monthly support on top of OAS payments.
GIS amounts depend on income level and marital status. Other federal and provincial programs may also offer extra assistance to eligible seniors.
How to Apply for Old Age Security in Canada
Some seniors are automatically enrolled in Old Age Security. Others must apply through the government’s official application process.
Applications can be submitted online or by mail. It is recommended to apply several months before turning 65 to avoid delays in receiving payments.
Also Read: UK £600 Cost of Living Boost 2026: DWP Payment Dates, Eligibility Rules, and Latest Official Update
Dr Linda Steele is a Senior Lecturer at the Faculty of Law, University of Technology Sydney, and a member of the Law Health Justice Research Centre. She is also a Visiting Senior Fellow at the Faculty of Law, Humanities and the Arts, University of Wollongong.