In Canada, the Old Age Security (OAS) program form the foundation of the retirement income system. For those who have been residents of Canada for 10 years or more after the age of 18, it comprises a basic pension that is payable to nearly all individuals 65 and over. Depending on how long you stay in Canada after turning 18, your OAS benefit will vary. After turning 18, if you reside in Canada for at least 40 years, you usually get a full pension.
You can be eligible for a partial pension if you leave the country earlier. For each year that you live in Canada after turning 18 and get a partial retirement, you will be paid 1/40th of the full pension. Here you will get updates on OAS Payment Schedule 2024. You must check this page to know more on $784.67 OAS Payment Dates for Every Month in 2024.
OAS Payment Schedule 2024
OAS Pension Plan, jointly administered by CRA and the national government, is one of the key foundations of Canada’s social assistance system. The official objective of the program is to offer financial assistance to Canadians who are 65 years of age or older. Recipients must understand the specifics of the OAS Payment Schedule as 2024 i have shared below in this page.
Since the OAS payments for the year begin on January 29, 2024, this is the most crucial date to remember. Payment for these items is due on the third last day of the month. The OAS Payment Schedule for 2024 is explained below:
- January 29, 2024
- February 27, 2024
- March 26, 2024
- April 26, 2024
- May 29, 2024
- June 26, 2024
- July 29, 2024
- August 28, 2024
- September 25, 2024
- October 29, 2024
- November 27, 2024
- December 20, 2024
CRA OAS Payment Schedule 2024 Details
| Today’s Topic | OAS Payment Schedule 2024 |
| Country | Canada |
| Scheme Name | Old Age Security |
| OAS February 2024 Payment Date | February 27, 2024 |
| Category | Government Aid |
| OAS Payment Amount | $784.67 |
| Official Website | canada.ca |
Understand OAS in Canada
- The Canadian government chose to act to protect the elderly population in the nation by enacting legislation that offers financial assistance to those 65 years of age or over to cover emergency medical costs in addition to meeting basic necessities. In order to successfully execute the OAS and carry out the strategy, the Canadian government chose to work in coordination with federal agencies.
- Canadian seniors hope to get critical financial assistance via the Old Age Security Pension Scheme scheme, which is split into two age-based categories. It is evident from the guidelines established by the Canadian federal government that adults above the age of 18 are eligible to apply for the program.
- They may be eligible for a full or partial pension depending on their age, national residence, and income. Before OAS 2024 applying, it is must to understand all of its terms and conditions as well as its advantages, disadvantages, and pros. The partial pension plan is only available to those who have lived in Canada for the last 10–20 years and do not have proof of long-term residency. Although those who have lived in the nation for at least 40 years are qualified to get full pension.
$784.67 OAS Payment Dates for Every Month in 2024
For those who are 75 years of age or beyond, the maximum monthly benefit will be $784.67; for those who are 65 to 74, it will be $713.34. On January 1, 2024, an increase in the OAS payout amount was planned. These adjustments reflect the changes made to the Consumer Price Index (CPI) to account for inflation.
To find out whether you are eligible but have not received a letter, you can apply online, via phone at 1-800-277-9914, or in person at a Service Canada location. An instant access to the application procedure is provided by creating a My Service Canada Account (MSCA), which is an additional option.
How much payment to expect?
One of Canada’s major pension schemes, the OAS for 2024 will offer OAS Payment 2024 to eligible Canadians so they can lead there lives properly. The program’s objective is to give seniors a minimal income. The OAS Payment Amount 2024 has been raised to CAD 68,500 on January 1, 2024, from CAD 66,600.
The highest monthly OAS benefit as of 2024 is $784.67 for people over 75 and $713.34 for people between 65 and 74. By going to the Canada Revenue Agency’s official website, individuals can verify the status of the payment. You must log in to the account using the details or credentials that allow you to access the MSCA account in order to view the Old Age Security Payment Status.
| Year | MMB (Age 65 to 74) | MAB (age 65 to 74) | MMB (Age 75 or older) | MAB (age 75 or older) |
|---|---|---|---|---|
| 2024 | $713.34 | $8,560.08 | $784.67 | $9,416.04 |
| 2023 | $687.56 | $8,250.72 | $778.45 | $9,341.40 |
| 2022 | $642.25 | $7,707.00 | ||
| 2021 | $615.37 | $7,384.44 | ||
| 2020 | $613.53 | $7,362.36 | ||
| 2019 | $601.45 | $7,217.40 | ||
| 2018 | $586.66 | $7,039.92 | ||
| 2017 | $578.53 | $6,942.36 | ||
| 2016 | $570.52 | $6,846.24 | ||
| 2015 | $563.74 | $6,764.88 | ||
| 2014 | $551.54 | $6,618.48 | ||
| 2013 | $546.07 | $6,552.84 | ||
| 2012 | $540.12 | $6,481.44 | ||
| 2011 | $524.23 | $6,290.76 |
Wondering when can I expect this payment. Tks
Could you please tell where l can apply for this OAS. It said if you make less then 21,000 so l qualify. Thank you