$1,266 OAS Increase Payment for February 2025 – Check Deposit Date & Eligibility

A rumour is spreading rapidly that Canadian seniors could get a $1,266 annual increase in OAS payments. If this were true, it would mean an average increase of $105.5 each month, which would be a relief for seniors struggling with rising inflation.

However, the Canada Revenue Agency has clearly mentioned in its official statement that the increase in OAS payments is not going to be seen during the first quarter of the year 2025. This January, February, and March of 2025 would not be receiving any increment on OAS payments. Therefore, many of the elderly in Canada are in confusion and eagerly awaiting clarification regarding this matter.

The Old Age Security (OAS) payment is an important financial support for seniors. Usually, this payment is revised every three months based on the Consumer Price Index (CPI) to maintain the purchasing power of seniors.

If this increase in OAS payment is implemented, it will benefit the citizens living on limited income and for whom rising expenses of house rent, food, and health services are still a challenge. However, though this annual increase is $1,266, the CRA has made it clear that no increase will be given in the first quarter.

OAS Annual Raise From Feb 2025/ Overview 

Canada Old Age Security Eligibility 2025

Any increase in OAS payment will apply only to those beneficiaries who are already eligible for it. The main eligibility conditions are as follows:

• Individuals aged 65 years or above will be eligible for this benefit.
• Canadian citizenship or permanent residents will get this benefit.
• People who have spent at least 10 years in Canada after the age of 18 will be considered eligible for this scheme.

The income thresholds are:

The vast majority of the eligible seniors will receive this benefit automatically if the records are up-to-date.

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CRA OAS Payment Date 2025

In case of any hike in OAS payments, the government will issue them according to a predetermined schedule. The OAS will either be directly deposited into the accounts or mailed in cheque form. In case beneficiaries have not updated their bank account details or addresses, they might face problems getting the payments in time.

Fact Check: $1,266 Annual Raise In OAS Payments

The CRA has directly stated that no hike will be met for the first quarter, which is January-March 2025. There is a chance that OAS may be met from April 2025. Rumors get spread by social media and online forums, leaving people confused. Many seniors pay heed to it because the hikes and inflation in the past years were so much, but this thing is not right to believe without getting any confirmation from an authentic source.

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Therefore, OAS recipients are advised to get information only from the official website of CRA or Service Canada. Also, they need to be cautious of any kind of fraud, as false information related to OAS increase can be used by scammers. If you want more information about OAS payments or possible increases, visit the CRA portal (Canada.ca) and get updates only from reliable sources.

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