Recent rumors suggest a $3,500 Old Age Security (OAS) payment for Canadian seniors in May 2025. However, according to official sources, there is no such lump-sum payment scheduled. The standard OAS payments continue as usual, adjusted quarterly based on the Consumer Price Index (CPI). OAS Payment Details (April–June 2025) Age Group Maximum Monthly OAS Payment … Read more
In May 2025, Canadians aged 60 and over are seeing a significant increase in retirement pension payments. The Canada Pension Plan (CPP) now offers a maximum monthly benefit of $1,433, while the Old Age Security (OAS) payment for those aged 75 and over has climbed to $800.44/month. Together, this gives eligible retirees a possible combined federal retirement benefit of $2,233.44/month, or over $26,800/year—a welcome improvement … Read more
As the cost of living continues to rise in Canada, Old Age Security (OAS) remains a crucial source of financial support for seniors. In May 2025, updated payment amounts, eligibility requirements, and tax rules have been confirmed. Whether you’re already receiving benefits or planning to apply, understanding the latest updates ensures you maximize your retirement income. What is … Read more