The Old Age Security pension rates will remain stable for the January to March 2025 quarter, maintaining the same payment amounts as the last quarter of 2024. This follows the quarterly review by Service Canada, which determined that the Consumer Price Index (inflation) decreased toward the end of last year.
As in previous years, payments occur during the last week of the month. Read on to learn about the OAS benefit amounts in 2025 and the payment dates.
Maximum Payment Amounts
Seniors aged 65-74 will continue receiving up to $727.67 per month. Those aged 75 and older receive an additional 10% boost, bringing their maximum to $800.44 monthly. These amounts apply to seniors who have lived in Canada for at least 40 years after age 18. Partial payments are provided based on years of Canadian residency.
OAS Payment Schedule
The January to March 2025 payments will be issued on January 29, February 26, and March 27. Direct deposits appear in bank accounts automatically on these dates. Paper checks arrive by mail around the same time. Recipients should contact Service Canada if payments aren’t received within five business days.
Income Recovery Tax
Higher-income seniors may see reductions through the OAS recovery tax. This clawback begins when net income exceeds $90,997. The reduction equals 15 cents for every dollar above this threshold. Full repayment occurs when income reaches $148,451 (age 65-74) and $154,196 (age 75+).
Guaranteed Income Supplement
Low-income seniors may qualify for additional GIS payments up to $1,086.88 monthly. GIS amounts remain unchanged for this quarter. This supplement gets paid automatically with OAS if eligible based on income.
Allowance for Spouses/Common-Law Partners
This support provides up to $1,381.90 monthly for individuals aged 60-64 whose spouse/partner receives OAS. The combined couple’s income cannot exceed $40,800. These amounts remain unchanged for the January to March 2025 quarter.
Allowance for Survivors
Widowed individuals aged 60-64 may receive up to $1,647.34 monthly through this program. Annual income must stay below $29,712 to qualify for maximum payments. Recipients must live in Canada and provide proof of partner’s death. This allowance helps bridge financial gaps until regular OAS eligibility begins.
Future OAS Increases
The next quarterly review is in March 2025, and any increases will take effect in April 2025. Changes depend on the cost of living and CPI at the time.
OAS Benefit Calculations
Payment amounts depend on years lived in Canada. A minimum of 10 years of residency after age 18 is required, and maximum payments require 40 years of residency. Partial payments equal 1/40th of full amount per year of residency.
OAS is Taxable
OAS payments count as taxable income. Recipients can request voluntary tax deductions. The preferred deduction amount can be adjusted anytime. Tax slips arrive by mail before the filing deadline.
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