One-Time $3,300 OAS Boost—Only If You Meet This Hidden Requirement. The Canada Revenue Agency provides an OAS or Old Age Security for eligible citizens of Canada. This year, the government has announced an increase in the OAS payments, considering the rapid rise in inflation and cost of living. The older people and retirees will get an extra benefit from this raise. To know more about the topic, “One-Time $3,300 OAS Boost—Only If You Meet This Hidden Requirement,” keep reading the full article.
One-Time $3,300 OAS Boost
The Canada Revenue Agency (CRA) has been distributing the OAS for a very long time for senior citizens or retirees with low incomes. If you’re a senior citizen residing in Canada, you must have heard the rumor about the one-time $3,300 OAS boost in 2025. This boost is anticipated in the government strategy on the welfare of seniors and assurance of their quality standard of living. It is aimed at providing income support to seniors, regardless of their work history or employment status.
Check Payment Dates
Check New Payment Amount
Check Payment Increase News
Check New Eligibility Criteria
The OAS boost is a government measure initiated to reduce the economic challenges faced by the elderly citizens of Canada. This increase is planned for April 2025 because the inflation rate has driven the government to act, and retirees need more financial help. The OAS benefit is reviewed quarterly and adjusted based on CPI. Senior citizens can also start saving a little for emergencies from the extra payments provided to them.
Key Overview
| Particulars | Details |
| Name of the Program | Old Age Security (OAS) |
| Providing Authority | Canada Revenue Agency (CRA) |
| Eligibility Age | 65 years or older |
| Residency Requirement | Must have lived in Canada for at least 40 years after the age 18 for full payment |
| Guaranteed Income Supplement (GIS) | Additional support for low-income seniors |
| Payment Dates | OAS payments are issued quarterly, with the next payment on January 17, 2025 |
| Application Process | Apply online via Service Canada or visit a Service Canada Centre |
| Category | Finance |
| Official Website | Service Canada — OAS |
Fact Check
The government has increased the amount of OAS payments to assist people with their necessary expenses. The amount of $3,300 will not be provided in one time. The amount seems to be hypothetical. The amount may be made up of adding other benefits with OAS. The individuals aged 65 to 74 will get up to $727.67 per month and individuals aged 75 and over will get up to $800.44 per month which includes a permanent 10% increase that started in July 2022. The government has not provided any official information regarding the $3,300 amount but the raise in amount is confirmed.
Eligibility Criteria
To be eligible, you must meet the eligibility criteria as follows:
- Age Requirement: To get this payment, you must be 65 years of age or over during the calendar year for which you are being paid.
- Tax Filing: It is mandatory for an individual to file their income tax to receive this payment.
- Citizenship and Residency: You must be a citizen of Canada or a permanent resident. The basic residential residency qualifications to get OAS criteria are that must have lived in Canada for at least 40 years after the age 18 for full payment
- Income Limit: You must also be earning within a certain income range. Low- and middle-income people, on the other hand, could receive capped OAS payments because of the OAS clawback or the Recovery Tax.
- Guarantee Income Supplement (GIS): It is mentioned that with boosted GIS, low-income senior citizens may get qualified for an additional payment, as this group of people is the main objective of this policy.
How to Claim the OAS Payment?
To receive this payment, the recipients need not file an application. The OAS payments are automatic and will be deposited in your account whenever you become eligible. You can start receiving your OAS payments early also if you want. Follow the steps to ensure your updated payment amount:
- Log in to My Service Canada Account using the accounts you have on online platforms.
- Go to the ‘OAS and GIS Payment’ category mailing address and banking details to verify your current and future payment amounts.
- Confirm and provide the correct mailing address and banking information to avoid delay in the issuance of boosted payment.
- Managing OAS payments can be easily done via the My Service Canada Account Portal, where you can ensure extra benefits.
- If you have any queries or difficulties regarding the payment, you must contact Service Canada.
