The Canada Revenue Agency (CRA) has recently distributed the latest Old Age Security (OAS) payments to eligible seniors on November 27, 2024. This vital financial support provides up to $718.33 per month for seniors aged 65 to 74, and up to $790.16 per month for those 75 years and older. The release of these payments is a crucial event for many Canadian seniors, offering significant financial relief to help cover living expenses and underscoring the government’s ongoing commitment to supporting its aging population.

Administered by Service Canada, the OAS program offers financial aid to seniors based on their residency and age, rather than their employment history. With these recent payments now in the accounts of eligible seniors, the financial stability provided will assist in meeting everyday needs and maintaining a comfortable standard of living. This timely disbursement highlights the government’s dedication to meeting the needs of its senior citizens.

Table of Contents

1. What is an Old Age Security Pension?
2. Who is Eligible for Old Age Security?
3. Old Age Security (OAS) Payment Amounts
4. OAS Payment Schedule for 2024
5. How to Check OAS Payment Status
   • Online via My Service Canada Account
   • Other Ways to Check Payment Status

What is an Old Age Security Pension?

The Old Age Security (OAS) pension is a government-provided monthly benefit for Canadian seniors aged 65 and above. Its purpose is to offer income support to seniors, regardless of their employment history, by focusing instead on residency and age requirements. Service Canada automatically registers eligible individuals for OAS when it has the necessary information. If you haven’t received confirmation of enrollment by the month following your 64th birthday, you should apply manually.

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Who is Eligible for Old Age Security?

To qualify for Old Age Security (OAS), you must meet the following conditions:

• In Canada: You must be at least 65 years old, a Canadian citizen or legal resident, and have lived in Canada for at least 10 years after turning 18.
• Outside Canada: You must be at least 65, a Canadian citizen or legal resident before leaving Canada, and have lived in Canada for at least 20 years after turning 18.

Employment history does not affect eligibility for OAS.

Old Age Security (OAS) Payment Amounts

The OAS payment amounts differ based on the recipient’s age:

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• For those aged 65 to 74: The maximum monthly payment is $718.33. This amount helps younger seniors manage daily living costs as they transition into retirement.
• For those aged 75 and older: The maximum payment rises to $790.16. This increase reflects the additional challenges seniors may face in their later years, providing extra support as they age.

OAS Payment Schedule for 2024

The OAS payments for 2024 will be issued on the following dates:

• November 27, 2024
• December 20, 2024

These payments are vital for many seniors, offering ongoing financial assistance to meet everyday living expenses.

How to Check OAS Payment Status

If you’re wondering whether your OAS payments are being issued as expected, there are several methods you can use to check the status:

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Online via My Service Canada Account

1. Log in to your My Service Canada Account using your username and password on the official CRA website.
2. Once logged in, navigate to the “Benefits” section and select “Old Age Security” to see your payment details.
3. Review your payment history to verify that payments have been issued on time and check upcoming payment dates.

Other Ways to Check Payment Status

• Use Government of Canada Online Tools: Visit the Service Canada website to access online tools that provide information about your OAS payment status. Some tools may require logging in with your personal details.
• Contact Service Canada: If you prefer speaking directly with a representative, you can call Service Canada at 1-800-277-9914. Follow the prompts to speak with someone who can assist you with your payment inquiries. Alternatively, you can visit a local Service Canada office and bring your identification and Social Insurance Number (SIN) for personalized support.
• Review Your Bank Statements: Another easy way to monitor your OAS payments is by regularly checking your bank statements for deposits from the Government of Canada. Any discrepancies or missed payments should be addressed by contacting your bank to confirm the deposit process.
• Check Your Mail: Service Canada may also send important notifications regarding your OAS payments by mail. Be sure to review any letters or notices to ensure they match your expected payment amounts and schedule.

By staying informed about your OAS payment status, you can ensure that you’re receiving the financial support you’re entitled to, helping you maintain financial stability as you enjoy your retirement years.