OAS is monthly financial assistance provided by the CRA to those citizens who are suffering from low income and unable to manage their basic expenses such as rent, food, clothes, and medications. Due to the rise in CPI, the Canada Revenue Agency made changes in Eligibility criteria and payment amount. Seniors who wish to receive the monthly assistance must meet the OAS New Eligibility Criteria. In this article, you can collect complete information regarding the OAS Amount Changes and Eligibility This Year.
OAS New Eligibility Changes 2024
Citizens who meet the eligibility criteria after the changes will be able to receive the OAS Monthly Assistance 2024. The minimum OAS Amount, eligible citizens will receive is $$718.33 (age 65 to 74), and $790.16 (age 75 to Above). Through the OAS pension plan, the government is providing monthly monetary assistance to eligible seniors who need financial help. The Old Age Security 2024 payments have been adjusted by the Consumer Price Index 2024.
You can start your OAS Assistance at the age of 65 but if you start your retirement pension plan after the age of 75, you will be able to receive the high amount of Old Age Security Payment Amount. Along with this, OAS-qualified citizens will also be able to receive an additional allowance which applies to seniors. If you wish to get monthly OAS assistance from the Canada Revenue Agency, read the whole article carefully and check the eligibility criteria, how to claim, payment amount, and scheduled payment dates in 2024.
Old Age Security 2024 – Overview
| Article Name | OAS New Eligibility Changes 2024: OAS Eligibility and Amount Changes This Year |
| Department | Canada Revenue Agency |
| Country | Canada |
| Benefit Amount | Age of 65 to 74: $718.33 Age of 65 to above: $790.16 |
| Recipient | Senior citizens |
| Payment frequently | Per month |
| Category | Financial Aid |
| Official website | Canada.ca |
OAS Eligibility after Changes in 2024
Pensioners are mandatory to meet the OAS Eligibility Criteria to qualify for the OAS Monthly Assistance. Canadian seniors who wish to receive the OAS, are suggested to check the requirements before applying for the benefit. you can check the below-mentioned requirement, to determine your eligibility.
If you live in canada, should meet:
- You Should be 65 years or older
- You must have legal residency proof at the time, CRA approves your OAS application.
- You must complete 10 years of citizenship in Canada ever since you turned 18.
If you are working outside Canada, you should meet:
- You should be 65 years or above.
- You must have legal residency proof before you leave Canada
- You must complete 20 years of citizenship in Canada meanwhile you turn 18.
If you are working outside Canada for Canada’s bank or any force
If you are external Canada for Canadian companies, such as the Canadian army and banks. You are mandatory to meet one of the following state
- Back to Canada in six months of finishing your service.
- If you choose to work after 65, you are required to maintain residence in Canada during the time you work outside Canada.
Seniors are mandatory to provide the following papers:
- Proof of physical back to country.
- Proof of employment from employer.
OAS Amount Changes in 2024
After the growth in the CPI, the CRA has made changes in the OAS Amount for 2024. The payment amount has been increased for both age groups of people for 65 to 74, the payment amount would be $713.34 per month, and for 65 to above, the payment amount would be $784.67 per month. This increment ensures the seniors that they will get enough amount to achieve their simple expenses. CPI has been increased by 0.8 percent. Due to the high ratio of pricing, seniors were unable to fulfill their requirements. But in 2024, the CRA made announcement regarding the increment in Old Age Security Payment.
Previously, the CRA provided $778.45 to those seniors who are aged 75 or above and $707.68 to those who are aged 65 to 74. But from 2024, There are certain changes made in OAS Monthly Assistance. Canada Revenue Agency monthly assists those seniors who are suffering from low income and are unable to maintain their expenses.
How to claim OAS?
Seniors who wants to claim the Old Age Security Pension Plan can follow the below-described procedure.
- Visit the official portal of Canada at Canada.ca.
- Go to the “My Account” login sector.
- Now move your cercal to the “benefits and credit” section and click on OAS.
- Read out the guidelines carefully, and start filling out the asked details.
- Submit all the necessary documents if asked.
- You will receive an authorization message from the Canada Revenue Agency after submitting the claim form.
Citizens are recommended to check the filled details before submitting the application form because incomplete and incorrect information, may cause you rejection or delay in approval. Canada Revenue Agency will ask you for some papers for the verification procedure. Seniors also required to meet the income criteria which is set by the Canada Revenue Agency.
Once you successfully meet the eligibility criteria, then CRA will allow you to proceed with the claim process. After submitting the claim form, CRA will look at your application form and if you satisfy the requirements, they will enroll you for the benefit. CRA sets the OAS Claim Process. You can also visit the official portal if you have any further queries regarding the application procedure.
OAS Scheduled Payment Dates 2024
Seniors who will qualify for the OAS 2024, may have concerns regarding the payment date. In this section, you can check OAS Monthly Scheduled Payment Dates 2024 by CRA.
| Payment Month | Payment Date |
| January 2024 | 29 |
| February 2024 | 27 |
| March 2024 | 26 |
| April 2024 | 26 |
| May 2024 | 29 |
| June 2024 | 26 |
| July 2024 | 29 |
| August 2024 | 28 |
| September 2024 | 28 |
| October 2024 | 29 |
| November 2024 | 27 |
| December 2024 | 20 |