Find out more about Old Age Security (OAS) payment amounts.

The Old Age Security pension is reviewed in January, April, July and October to reflect increases in the cost of living as measured by the Consumer Price Index. Your monthly payment amount will not decrease if the cost of living goes down.

Increased Old Age Security pension at age 75 July 2022

Seniors aged 75 and over will see an automatic 10% increase of their Old Age Security pension, as of July 2022.

Your OAS payment

If your income is higher than $79,054 (2020), you will have to repay part or your entire Old Age Security pension. Find out more about Old Age Security pension recovery tax.

You can receive your benefit payment by cheque or direct deposit to your banking account in Canada, the United States, or to some specific countries. You will have to sign up for direct deposit.

Retroactive payments

If you are already over 65, we may be able to give you a retroactive payment for up to a maximum of 11 months from the date we receive your application. If you delayed receiving your Old Age Security pension you will not be able to receive retroactive payment during the deferral period.

You might also be eligible to receive extra payments based on your income such as:

• the Guaranteed Income Supplement
• the Allowance
• the Allowance for the Survivor

Payment dates

You will receive your first Old Age Security payment either:

• the month after you turn 65
• the specific date that you have chosen

Consider delaying your Old Age Security benefit

You can receive your first Old Age Security pension payment the month after you turn 65.

You can receive a higher amount for each month you decide to delay your first payment.

You can delay payment of the Old Age Security pension for up to 60 months (5 years) after you are 65. The longer you delay, the larger your pension payment will be each month.

After age 70, there is no advantage in delaying your first payment. In fact, you risk losing benefits. If you are over the age of 70 and are not receiving an Old Age Security pension, apply now.

If you are eligible for the Guaranteed Income Supplement, there is also no advantage in delaying your first payment.

Consider your personal circumstances

There are many factors you should consider when deciding when to start receiving your Old Age Security pension. These include your health, your financial situation, and your plans for retirement.

You should think about:

• whether you plan to keep working
• if your spouse or common-law partner wants to apply for the Allowance
• your health
• your retirement plans

If you are still working and receiving Old Age Security payments

If you are still working and your income is higher than $79,054 (2020), you will have to repay part of your Old Age Security pension payment. Delaying your first payment can let you keep more of your pension.

If you are planning on receiving the Guaranteed Income Supplement and your income is less than what you reported on your tax form last year, make sure to notify the Pension call centre.

Other benefits will be delayed if you delay your Old Age Security payment

If you are not in receipt of the Old Age Security pension:

• you cannot get the Guaranteed Income Supplement
• your spouse cannot apply for the Allowance

Applying to delay your first payment

If you received a letter from pension office and want to delay your first payment:

• log into your My Service Canada Account and follow the directions
• complete, sign, and return the enrolment letter by mail

Other situations that can affect your Old Age Security pension amount

If you have lived in Canada less than 40 years

Not everyone receives the full Old Age Security pension. The amount you receive depends on the number of years you have lived in Canada.

If you lived in Canada for less than 40 years (after age 18) you will receive a partial payment amount. Your payment amount is based on the number of years in Canada divided by 40.

You can delay your first payment up to 5 years to get a higher amount.

Example