If you’re a Canadian senior aged 65 or older and receiving retirement benefits, there’s a new Old Age Security (OAS) payment on the way. The OAS program is designed to provide financial support to seniors, helping them cover living costs during retirement.
While most Canadians are automatically enrolled at 65, it’s wise to verify your eligibility, especially if you’ve spent time living outside of Canada.
When Is the OAS Payment Coming in May 2025?
The OAS payment for May 2025 is scheduled for Wednesday, May 28, 2025. Payments are typically issued in the last week of each month. Depending on your preferences with Service Canada, the funds will either be directly deposited into your bank account or sent via cheque.
Payment Amounts for May 2025 OAS
Your OAS payment amount for May 2025 depends on your age group:
| Age Group | Payment Amount |
|---|---|
| 65 to 74 years old | Up to $727.67 |
| 75 years and older | Up to $800.44 |
Your actual payment may vary based on your income level. OAS payments are reviewed and adjusted every quarter to reflect inflation changes, but they will not decrease, even if inflation drops. For a personalized estimate, you can use Service Canada’s online OAS benefits estimator.
Who Is Eligible for OAS Benefits?
To be eligible for OAS, you must meet the following conditions:
- Be 65 years of age or older
- Be a Canadian citizen or legal resident
- Have lived in Canada for at least 10 years after turning 18
Even if you’ve lived abroad, you may still qualify for OAS benefits if you were a Canadian citizen or legal resident before leaving and spent at least 20 years as an adult living in Canada.
How to Apply for the OAS Program
Most people are automatically enrolled in OAS. Around your 64th birthday, Service Canada typically sends a letter explaining your options and asking when you’d like to start receiving your payments—anytime between ages 65 and 70. The longer you delay starting, the higher your monthly OAS amount will be.
If you don’t receive this notification, it’s important to contact Service Canada. You can apply in two ways:
- Online: Through your My Service Canada Account. Note that you must complete the form in one sitting as your progress cannot be saved.
- Mail or In-Person: Submit a completed paper form along with the required certified documents to Service Canada.
Are OAS Payments Taxable?
Yes, OAS benefits are considered taxable income. You can either have taxes deducted directly from each monthly payment or pay the amount owed when you file your annual tax return. Many seniors choose to have tax withheld automatically to avoid a large tax bill later.
To set up deductions, you can log into My Service Canada Account or fill out the Request for Voluntary Federal Income Tax Deductions (CPP/OAS) form and mail it to Service Canada.
Upcoming OAS Payment Dates for 2025
Below are the upcoming OAS payment dates for the rest 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 |
Final Thoughts
The Old Age Security program remains a crucial source of support for many Canadian seniors. Understanding your eligibility, how much you’re entitled to, and how the tax rules apply can help you better manage your retirement finances. Make sure you’re enrolled, track upcoming payment dates, and explore tools like the OAS benefits estimator to stay fully informed.
FAQs
How do I check my eligibility for OAS?
To qualify, you must be at least 65, be a Canadian citizen or legal resident, and have lived in Canada for a specific period. You can also use the OAS benefits estimator on the Service Canada website to confirm eligibility.
Can I choose when to start my OAS payments?
Yes, you can begin payments anytime between age 65 and 70. The later you start, the higher your monthly benefit. If you don’t hear from Service Canada by age 64, reach out directly to ensure you’re enrolled.
Are OAS payments taxed?
Yes, they are. You can choose to have tax deducted from your monthly payment or pay when filing your annual taxes. Service Canada will provide tax documentation for your records.