Is Increased OAS With $2,250 Coming in February 2024 ? Who is Eligible ? Know Payment Date

The scheme of $2250 OAS Increase will be launched soon in February 2024. People who are of age 65 or more will fall under the eligibility criteria of Canada Old Age Security Eligibility 2024 and will get the new payment. The increase in Canada OAS Increase payment has been made from 66,500 CAD to 68,500 CAD. This increased payment of $68,500 will be deposited from February 2024 in your bank account directly or by check.

Before getting convinced that you will receive this payment please make sure to see the eligibility criteria and get an idea if you are eligible or not. Check the section OAS Eligibility 2024 on the official site. There you will find all the details regarding eligibility, how to apply and total amount and the application also. We have compiled all the details regarding OAS Increase amount here in this article for you.

$2250 OAS Increase Payment

Canadian government has started many schemes and plans for Canadian citizens to provide them financial support and help them earn livelihood. One of these plans is Old Age Security Pension Plan 2024 which is given to people who are of 65 years of age or more. Recently the prime minister of Canada has decided to increase the amount of OAS payment. Now the people will get $68,500 monthly payment which was $66,500 monthly payment before. Canada.ca OAS payment February 2024 is basically a retirement plan which is created to provide financial help to old age people or people who are 65 or above.

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If you are wondering if you are going to get the increased payment or the old payment, then we are here to help you. The $2250 OAS Increase 2024 payment is going to come into effect from  February 2024. People eligible will get the increased sum from the coming payment dates. If you are also one who is looking for the date regarding this increased payment, then follow for more details. On the third last day every month you will receive your payment. If that day is a holiday you will get the amount previous month. The $2250 OAS Increase Payment will be affected by the CPP. Here people will get the payment through direct bank deposits.

Overview for $2250 OAS Increase Payment

Regulatory Authority Canada Revenue Agency
Name of Plan $2250 OAS Increase 2024
Only for Canadian people
Amount increased $2250
Eligibility Criteria People of age 65 or more
Payment date 3rd last day every month or before or after that day if it’s a holiday
Official website www.canada.ca

Eligibility for $2250 OAS Increase Payment

  • The person should be of age 65 or above.
  • During the time of application, the person should be a citizen of Canada.
  • The person should be a citizen of Canada for 10 years from the time they turned 18.
  • If you are living in some other country, then your age should be more than 65 years.

$2250 OAS Increase Payment 2024

These tables only provide the maximum payment sum for each benefit this year.

Old Age Security pension (65+ years old)
Your situation Your annual net world income in 2022 must be Maximum monthly payment amount
I am age 65 to 74 less than $142,609 up to $713.34
I am age 75 and over less than $148,179 up to $784.67
Guaranteed Income Supplement (65+ years old)
Your situation Your annual net income must be Maximum monthly payment amount
single, widowed or divorced less than $21,624 up to $1,065.47
have a spouse/common-law partner who receives a full OAS pension less than $28,560
(combined income of couple)
up to $641.35
have a spouse/common-law partner who receives the Allowance less than $39,984
(combined income of couple)
up to $641.35
have a spouse/common-law partner who does not receive an OAS pension or Allowance less than $51,840
(combined income of couple)
up to $1,065.47
Allowance (60 to 64 years old)
Your situation Your annual income plus the annual income of your spouse/common-law partner must be Maximum monthly payment amount
I have a spouse/common-law partner who receives the GIS and the full OAS pension Less than $39,984
(combined income of couple)
up to $1,354.69
Allowance for the Survivor (60 to 64 years old)
Your situation Your annual net income must be Maximum monthly payment amount
I am a surviving spouse or common-law partner less than $29,112 up to $1,614.89

$2250 OAS Increase Payment

Age 65-75 years $713.34
Age above 75 years $784.67
Partner getting full OAS $641.35
Partner getting Allowance $641.35
Partner not receiving OAS $1065.47
The partner receiving Full Payment $1343.95
Partner of age 60 – 64 years $1602.07
Widowed, Divorced or Single $1065.47

How can you check $2250 OAS Increase Payment Status 2024?

  • Firstly you need to login to their official website www.canada.ca
  • In order to view the status of your payments, login to your MSCA account and check all the details there.
  • It usually takes 1-2 business days for the check to be deposited in your bank account.
  • You will need to provide your Social Insurance Number to check the status of your payment.
  • In case the payment status page is not responding or not working then you can contact the officials. Know the status of your payment from them.

The amount of increase in OAS payment will depend on Consumer Price Index. All the hikes and falls in the cost of living depend on the Canadian government. This pension will increase in February  this year and will consecutively increase if the cost of living or inflation increases. At least 4% change has occurred in the rates after the boom.

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