Seniors to Receive Old Age Security Payments in May 2025 – Check Your Amount
If you’re a Canadian senior aged 65 or older, receiving retirement benefits, a new payment is heading your way soon. The Old Age Security (OAS) program provides financial assistance to seniors to help manage the costs of living in retirement.
While most individuals are automatically enrolled when they reach 65, it’s a good idea to confirm your eligibility, particularly if you’re nearing retirement or have lived outside Canada.
Here’s a breakdown of everything you need to know about the OAS payment for May 2025.
When Will the May 2025 OAS Payment Be Released?
The May 2025 OAS payment is set for release on Wednesday, May 28, 2025. OAS payments are generally processed during the final week of each month.
Depending on your chosen setup with Service Canada, the payment may be directly deposited into your bank account or sent via cheque.
How Much Will You Receive in May 2025?
For May 2025, the OAS payment will be based on your age:
| Age Group | Payment Amount |
|---|---|
| 65 to 74 years old | Up to $727.67 |
| 75 years and older | Up to $800.44 |
The exact amount you receive will depend on your income level. While OAS payments are regularly adjusted each quarter to keep up with inflation, they will never decrease, even if inflation falls.
To get an estimated payment amount, Service Canada provides an online OAS benefits estimator. This tool gives you a quick estimate based on your details.
Eligibility for OAS Benefits
To qualify for OAS, you must meet the following criteria:
- You are 65 years old or older.
- You are a Canadian citizen or legal resident of Canada.
- You have lived in Canada for at least 10 years after the age of 18.
In some cases, even if you’ve lived abroad, you may still qualify for OAS. This is true if you were a Canadian citizen or legal resident before leaving and have lived in Canada for at least 20 years as an adult.
How to Apply for OAS
For the majority of seniors, enrollment in OAS is automatic. Service Canada typically registers eligible individuals and sends a letter around their 64th birthday.
This letter explains the available options and asks when you would like your payments to begin, from age 65 to 70. The later you start your payments, the higher your monthly OAS benefit.
If you do not receive a letter within a month of turning 64, it’s advisable to contact Service Canada directly. You can apply in the following ways:
- Online: Use your My Service Canada Account to apply. Note that you won’t be able to save your progress while filling out the form.
- By Mail or In-Person: Complete a paper form, gather the necessary certified documents, and submit them to Service Canada.
Is OAS Taxable?
Yes, the OAS payments are considered taxable income. You can choose to have taxes deducted directly from your monthly OAS payment or pay them when you file your income tax return. To avoid a larger tax bill later, many individuals opt to have taxes withheld automatically.
To set this up, simply log into your My Service Canada Account or complete the Request for Voluntary Federal Income Tax Deductions (CPP/OAS) form and send it to Service Canada.
Upcoming OAS Payment Dates for 2025
Here are the upcoming OAS payment dates for the remainder of 2025:
| Month | Payment Date |
|---|---|
| June | June 26, 2025 |
| July | July 29, 2025 |
| August | August 27, 2025 |
| September | September 25, 2025 |
| October | October 29, 2025 |
| November | November 26, 2025 |
| December | December 22, 2025 |
The OAS program continues to be an essential support system for Canadian seniors, ensuring that older adults can cover their living expenses during retirement.
By understanding your eligibility, payment amounts, and tax implications, you can better manage your finances as you enter retirement. Don’t forget to verify your enrollment status and stay updated on future payment schedules.
FAQs
How do I check my eligibility for OAS?
To verify your eligibility for OAS, you need to meet the following requirements: being 65 years or older, being a Canadian citizen or legal resident, and having lived in Canada for a certain number of years. You can also check your eligibility by using the OAS benefits estimator provided by Service Canada.
Can I choose when to start my OAS payments?
Yes, you can choose when to begin receiving OAS payments, typically starting from age 65 up to age 70. The later you begin, the higher your monthly payment will be. If you haven’t received information about your OAS enrollment by age 64, you should contact Service Canada.
Are OAS payments taxed?
Yes, OAS payments are taxable. You can opt for tax deductions to be withheld from your payments or pay the taxes when filing your annual tax return. Service Canada provides the necessary tax documents for reporting your OAS payments.