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2024 Old Age Security (OAS) Payment Guide: Monthly Payouts of $784.67

Discover everything you need to know about the 2024 Old Age Security (OAS) payment dates, with each month promising $784.67 to eligible seniors in Canada.

Guide to 2024 OAS Payments

Collaborating for social welfare, Canadian federal bodies and the government have rolled out the Old Age Security (OAS) Pension Plan. This plan is a cornerstone in supporting the financial needs of older Canadians.

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Eligibility for the OAS pension includes individuals over 65 who have contributed to the Canada Pension Plan (CPP). With 2024 on the horizon, it’s crucial for beneficiaries to stay informed about the OAS payment schedule. Notably, the first payment in 2024 is scheduled for January 29, the third last day of the month.

OAS Payment Schedule 2024

Post TitleOAS Payment Schedule 2024
CountryCanada
Scheme NameOld Age Security Pension Scheme
OAS January payment DateJanuary 29, 2024
OAS Payment Amount$784.67
Eligible Age65 years and above
More DiscussionFind Here
OAS Payment Schedule 2024

Demystifying OAS Payments

In Canada, the Old Age Security pension stands as a key pillar of retirement income for seniors. Eligible at age 65, recipients benefit from this monthly pension, which is especially beneficial for those with low income, supplementing it with additional supports like the Guaranteed Income Supplement.

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OAS Payments Schedule 2024
OAS Payment Schedule 2024

2024 Payment Dates and Details

The OAS payments in 2024 will consistently be disbursed on the third last day of each month, with an adjustment if it coincides with a holiday. For those living abroad who meet the residency and age requirements, eligibility still holds. Complete details of the 2024 schedule are readily available online.

Month Canada OAS Payment Schedule 2024
January, 2024Jan 29
February, 2024Feb 27
March, 2024Mar 26
April, 2024April 26
May, 2024May 29
June, 2024June 26
July, 2024July 29
August, 2024Aug 28
September, 2024Sept 25
October, 2024Oct 29
November, 2024Nov 27
December, 2024Dec 20
Canada OAS Payment Schedule 2024

Transitioning to Digital Payments

The Canadian government is shifting towards direct deposit for all payments, moving away from traditional checks. It’s important to set up direct deposit as payments could be delayed for those still receiving checks.

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Rising OAS Payments

Starting January 1, 2024, the OAS payment increases, with the maximum monthly benefit reaching $784.67 for those above 75, and $713.34 for ages 65-74. These adjustments, made quarterly, reflect inflation and the cost of living changes.

Applying for OAS

Eligible individuals often receive a notification letter about OAS payments commencing at 65. If you haven’t received such a letter but believe you’re eligible, applications are accessible online, via phone, or at Service Canada offices. Completing the application can also be done through the My Service Canada Account.

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We’re delighted to share this comprehensive overview of the OAS Payment Schedule for 2024.

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