OAS is a social security program that is a boon for senior citizens. As the cost of living and inflation continue to rise, more problems for senior citizens and retirees are created. OAS aims to provide them with monthly payments so they can live a respectable life and achieve their basic needs of food, water, electricity, etc. The OAS Boost January 2025 will benefit them even more and help them increase their quality of life.

OAS Boost January 2025

Particulars	Details
Date	January 2025
Country	Canada
Pension Name	Old Age Security (OAS)
Providing Authority	Canada Revenue Agency (CRA)
Beneficiaries	Canadian old age citizens
Main Aim	To provide financial support to older citizens
Increased Amount	Not confirmed
Expected Increase	1.6%
Payment Frequency	Monthly
Post Type	Finance
Official Website	www.canada.ca

Understanding OAS Increase 2025 in Detail

OAS payments will increase in 2025 (the current year) due to the rise in inflation. It is a kind of financial support for older citizens. For those retirees who have a very low income, this security helps to live a respectable life. The benefits of OAS are increased or adjusted every three months depending on many factors, such as inflation, consumer price index (CPI), and cost of living. It also demonstrates the government’s growing recognition of the immense value seniors contributed to society and emphasises their ongoing need for financial security in their later years.

OAS payments will boost from January 2025. The difference in payments can be noted by the eligible recipients in December. One of it’s merits is that the senior citizens do not have to fill out any application or form for the increase in payment. It will happen directly in their accounts. For those who missed earlier payments or had delays with OAS, the retropayment may also include the higher rate for December.

Amount increase in OAS for January 2025

Payment Date	Recipient Age Group	Maximum Payment (Monthly)	Details
January 29, 2025	65 to 74 years	$707.68	Canadian senior citizens between the age group of 65 and 74 years and whose annual income is below $148,451 are eligible for OAS, that is, maximum monthly $707.68.
January 29, 2025	75 years and older	$880.44	Canadian senior citizens with age 75 years and above and whose annual income is below $154,196 are eligible for OAS, that is, maximum monthly $880.44. It reflects an increase of 10%. It was introduced in July 2022.

 

Old Age Security 2025 Eligibility Criteria

Age Requirement

You will be eligible for OAS if your age is 65 or above. If your partner is aged 75 or above, you will get even a higher payment.

Citizenship

You must be a Canadian citizen or a legal resident at the time your OAS pension is getting approved. Or, you have been a Canadian citizen or a legal resident of Canada on the day before you left Canada.

Income Limits

The Old Age Security Recovery Tax can considerably impact senior citizens, as OAS payments will be reduced if they have incomes exceeding a certain level. Seniors need to understand that this tax directly affects their financial stability in retirement.

Residency in Canada

It is mandatory for someone who applies for OAS to be a resident in Canada for at least 10 years after being 18 years old. The payment will be increased according to the increase in level of recidency up to the maximum of 40 years.

How to Check Your OAS Payment Amount?

After registering your OAS account successfully, you can check your OAS payment amount from My Service Canada Account. To check your updated OAS payment amount, follow the given steps:

Log Into My Service Canada Account

The first step is to login to your My Service Canada Account. You have to use the accounts you have on online platforms.

Payment Details

Click on the ‘OAS and GIS Payment’ category. Your current and following payment amounts.

Update Information

Check your mailing address and bank details. The information should be correct; otherwise, the payment will be delayed. If you find any mistake, correct it and update it.

Contact Service Canada

If you have any doubts or queries regarding the payment, you should contact Service Canada at 1-800-277-9914.

How to Maximise OAS Boost for Canadian Seniors?

Timely Registration

Make sure to register and apply for your OAS application on time. You can apply six months before turning 65. Many citizens are involuntarily enrolled but ensure your status with Service Canada.

Consider Delay

If you start your payment early, you will get a reduced payment amount. SO you must consider delay as after the age of 70 your benefits will be increased by 0.6% per month, consequentially a maximum of 36%.

Additional Benefits

Other benefits alongside OAS can be used to make income other than OAS Boost. Some of them are:

• Apply for Guranteed Income Supplement (GIS)
• Adopt Pension Income Splitting by married couples to apportion their pension income to lower their tax burden.
• Tax Credits and Deductions, including the Age Amount Tax Credit.
• Budget for essentials such as food, shelter, electricity, and medical care.