If you’re a senior in Canada depending on government assistance like the Canada Pension Plan (CPP) and Old Age Security (OAS), there’s good news ahead. The March 2025 OAS payments are coming soon, providing vital support for your retirement.
What is Old Age Security (OAS)?
Old Age Security (OAS) is a monthly financial benefit provided by Service Canada through the Employment and Social Development Canada (ESDC). Its primary goal is to assist Canadian seniors aged 65 and older with their retirement expenses.
While the majority of seniors are automatically enrolled in OAS, not everyone qualifies, so it’s important to confirm your eligibility.
When Will the March 2025 OAS Payments Be Released?
Make sure to mark Thursday, March 27, 2025, on your calendar! This is the scheduled date for the March 2025 OAS payment.
Typically, payments are made during the last week of each month, ensuring seniors receive their funds in a timely manner.
How Much Will You Receive?
The amount you are eligible to receive in March 2025 depends on your age and income. Below is the breakdown for eligible seniors:
| Age Group | Maximum OAS Payment |
|---|---|
| 65 to 74 years | $727.67 |
| 75 years and older | $800.44 |
Your payment may vary based on your income, and the amounts are regularly adjusted for inflation but will never decrease.
Who Qualifies for OAS?
To be eligible for OAS, you must meet the following criteria:
- Be 65 years old or older.
- Be a Canadian citizen or legal resident at the time your application is approved.
- Have resided in Canada for at least 10 years after turning 18.
Additionally, if you’ve moved abroad, you could still be eligible if:
- You were a Canadian citizen or legal resident before leaving Canada.
- You lived in Canada for a minimum of 20 years as an adult.
How to Apply for OAS
For most individuals, enrollment in OAS happens automatically. However, if you’re not automatically registered, Service Canada will typically send you a letter when you approach your 64th birthday. From there, you can apply for OAS in one of two ways:
- Online through your My Service Canada Account.
- By mailing a paper application form to your local Service Canada office.
Is OAS Taxable?
Yes, OAS payments are considered taxable income. You have the option to have taxes deducted from your monthly payments, or you can pay them when filing your taxes at the end of the year.
Service Canada will issue the appropriate tax slip based on your location for tax purposes.
Upcoming OAS Payment Dates for 2025
Here’s a schedule of OAS payment dates for the year 2025:
| Date |
|---|
| April 28 |
| May 28 |
| June 26 |
| July 29 |
| August 27 |
| September 25 |
| October 29 |
| November 26 |
| December 22 |
The March 2025 OAS payments are an important part of retirement planning for Canadian seniors. Understanding the eligibility requirements, the application process, and payment schedules can ensure you receive the full benefit you are entitled to.
Be sure to keep track of these dates, as timely access to OAS can provide crucial financial support. If you need to apply, make sure to take action before the payment date to avoid delays.
FAQs
How do I apply for OAS?
If you are not automatically enrolled, you can apply online through your My Service Canada Account or by submitting a paper application to your local Service Canada office.
Is OAS taxed?
Yes, OAS is taxable. You can choose to have taxes deducted from your monthly payments or pay them at the time of filing your taxes.
What if I have lived abroad, am I still eligible for OAS?
Yes, you may still qualify if you lived in Canada for at least 20 years as an adult and were a Canadian citizen or legal resident before leaving.