OAS payment dates in 2025, and more to know about Old Age Security

Old Age Security (OAS) is a monthly benefit funded by the federal government, designed to provide financial support to Canadians aged 65 and older. It complements the Canada Pension Plan (CPP) and personal savings as part of your retirement income. Unlike CPP, you don’t pay into OAS through your paycheck—it’s funded through general government revenues. Payments for both OAS and CPP are issued on the same dates each month.

📅 OAS Payment Dates for 2025

• January 29

• February 26

• March 27

• April 28

• May 28

• June 26

• July 29

• August 27

• September 25

• October 29

• November 26

• December 22

✅ Who is Eligible for OAS?

To qualify for OAS, you must:

• Be 65 years or older

• Be a Canadian citizen or legal resident

Residency Requirements:

• If you live in Canada: Lived in the country for at least 10 years since age 18.

• If you live outside Canada: Lived in Canada for at least 20 years since age 18.

Your employment history doesn’t affect eligibility—you can qualify even if you’ve never worked.

Enrollment:
Most people are enrolled automatically at age 64. If you don’t receive a letter, you’ll need to apply manually via My Service Canada Account or by mailing a form.

💸 How Much Will I Receive in OAS?

OAS is indexed to inflation and reviewed quarterly. Here are the maximum monthly amounts for January to March 2025:

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💡 Factors That Impact Your OAS Amount

1. Years Lived in Canada:

   • 40+ years = likely eligible for full OAS

   • Less than 40 = may receive a partial amount

   • Minimum: 10 years in Canada after age 18 (20 if applying from abroad)

2. When You Start Receiving OAS:

   • Start at 65 or delay up to 70 for higher monthly payments

   • Each month of deferral adds 0.6% to your payout (up to 36% more at 70)

3. Your Income Level:

   • If your net income exceeds a certain amount, you may have to repay some or all of your OAS (a process known as the OAS clawback)

🧾 Are OAS Benefits Taxable?

Yes. OAS benefits are considered taxable income. You can opt for monthly tax deductions by logging into My Service Canada Account or submitting Form ISP-3520OAS.

🔁 What is the OAS Clawback?

If your annual net world income exceeds a certain threshold, you’ll have to repay 15% of the excess through the OAS recovery tax.

Example for 2024 Income:

• Recovery starts at: $90,997

• If income = $120,000 → $29,003 over the threshold

• Clawback = 15% of $29,003 = $4,350.45, paid in 12 monthly deductions starting July 2025

2025 Thresholds:

• Minimum: $93,454

• Max before full clawback (age 65–74): $151,668

• Max (age 75+): $157,490

💼 Should You Delay Taking OAS?

Delaying OAS beyond age 65 increases your monthly benefit, up to age 70. However, there’s no benefit to delaying past 70, and doing so may result in lost payments.

🧓 What is the Guaranteed Income Supplement (GIS)?

The GIS is an additional non-taxable monthly benefit for low-income seniors receiving OAS.

2025 GIS Eligibility Thresholds:

• Single: Income under $22,056 → up to $1,086.88/month

• Couples (varies by partner’s OAS status): Combined incomes up to $52,848

  • Max GIS ranges from $654.23 to $1,086.88

You can apply for GIS at the same time as OAS through your Service Canada account or by form.

🧠 Tips to Reduce or Avoid OAS Clawbacks

• Pension Income Splitting: Share retirement income with a lower-income spouse

• Withdraw RRIF Based on Younger Spouse’s Age: Lowers required withdrawals

• Tax-efficient Investing: Different investments have different tax treatments

Consider consulting a financial advisor to tailor a plan to your income and retirement goals.