Rumors about a $1,100 monthly Old Age Security (OAS) payment for Canadian seniors have been circulating widely.
While an OAS payment adjustment is made quarterly to account for inflation, no official government announcement confirms an increase to $1,100.
This article provides an accurate overview of the OAS program, including eligibility, actual payment amounts, and payment schedule for 2024.
Overview of OAS Payments in 2024
The Old Age Security (OAS) program provides monthly financial support to Canadians aged 65 and older, with payment amounts based on age and adjusted quarterly for inflation.
However, current OAS payments fall short of the rumored $1,100 monthly amount. For October 2024, seniors aged 65 to 74 receive a maximum of $718.33, while those aged 75 and older receive up to $790.16.
The payment amounts are determined by the Consumer Price Index (CPI), which influences regular adjustments.
| Age Group | Monthly Payment (October 2024) |
|---|---|
| Ages 65–74 | $718.33 |
| Ages 75 and Older | $790.16 |
Eligibility Criteria for OAS Payments
To qualify for OAS payments, individuals must meet certain residency and age requirements:
- Canadian Residency:
- Must be a Canadian citizen or permanent resident.
- Applicants living in Canada must have resided in the country for at least 10 years after turning 18.
- Applicants living outside Canada must have lived in Canada for at least 20 years after age 18.
- Age Requirement:
- Individuals must be 65 years or older to qualify.
- Additional Criteria for Residents Abroad:
- Individuals living outside Canada may still receive OAS if they worked for a Canadian employer, such as the military or federal government, before leaving.
These criteria ensure that OAS benefits are available to Canadians who have contributed to the country over a substantial period.
OAS Payment Schedule for 2024
OAS payments are distributed monthly, typically on the same date each month. Here’s the 2024 schedule for OAS payments:
| Month | OAS Payment Date |
|---|---|
| January | 29th |
| February | 27th |
| March | 26th |
| April | 26th |
| May | 26th |
| June | 29th |
| July | 26th |
| August | 28th |
| September | 25th |
| October | 29th |
| November | 27th |
| December | 20th |
Payments are typically made through direct deposit, with those receiving paper checks potentially experiencing delays.
How to Apply for OAS Payments
Most Canadians are automatically enrolled in OAS upon reaching 65. However, those who are not automatically enrolled can apply manually:
- Online Application: Visit Service Canada and log into your My Service Canada Account to submit an application.
- Required Information: Have your Social Insurance Number (SIN), proof of age, and residency details ready.
- Application Processing: After approval, monthly payments begin, with options to defer OAS for higher future payments.
Fact Check: No $1,100 OAS Payment for October 2024
The circulating claims of a $1,100 monthly OAS payment are unfounded. OAS payments for 2024 are adjusted according to inflation but remain at the current levels of $718.33 for those aged 65–74 and $790.16 for those 75 and older.
Any increase would be announced formally by Service Canada or the CRA.
For accurate information on OAS payments, rely on official sources such as Service Canada or the CRA.
