OAS $1,546 Deposits Start This Week: Canada’s Old Age Security (OAS) program is back in the headlines this week, as eligible seniors across the country start receiving deposits of up to $1,546. This news has many Canadians wondering if they qualify, how much they could receive, and what steps they need to take. If you’re nearing retirement, assisting an aging family member, or planning ahead, this comprehensive guide will help you understand the ins and outs of OAS payments, eligibility rules, and how to maximize your benefits.
Understanding how these monthly government payments work is more than helpful—it’s crucial. In retirement, every dollar matters, and programs like OAS can significantly impact your monthly income. This guide breaks it all down in plain language, using real-world examples, current data, and expert tips. Whether you’re 10 years away from retirement or filling out paperwork for a parent, we’ll make sure you walk away informed and confident.
OAS $1,546 Deposits Start This Week
| Topic | Details |
|---|---|
| Maximum OAS Payment | Up to $800.44/month for seniors aged 75+, $727.67 for ages 65-74 |
| Combined OAS + CPP Potential | Up to $1,546/month or more, depending on contribution and eligibility |
| Eligibility | Canadian citizen/resident, aged 65+, lived in Canada 10+ years |
| Next Payment Date | April 28, 2025 |
| Official Source | Canada.ca – OAS Program |
With OAS and CPP payments reaching up to $1,546 per month or more, now is the perfect time to review your retirement plan and make sure you’re getting every dollar you deserve. These benefits are vital for maintaining a comfortable lifestyle in retirement and ensuring peace of mind.
Whether you’re years away from retirement or already receiving payments, understanding your eligibility, staying up to date on payment schedules, and planning your taxes and applications carefully will help you make the most of these crucial benefits.
What is the Old Age Security (OAS) Program?
The Old Age Security (OAS) program is one of Canada’s most important public retirement income programs. Unlike the Canada Pension Plan (CPP), which is based on how much you paid into it during your working years, OAS is funded through general tax revenues. That means it’s not tied to employment history—if you meet the residency and age requirements, you may be eligible.
The OAS pension provides a monthly taxable payment to seniors aged 65 and older to help with basic living expenses. It’s reviewed and adjusted quarterly based on the Consumer Price Index (CPI), so the benefit keeps pace with inflation. In many cases, recipients also qualify for other support, including the Guaranteed Income Supplement (GIS) or the Allowance for the Survivor, depending on income and marital status.
In April 2025, those who qualify for both OAS and CPP are receiving deposits that can reach or exceed $1,546/month. This total can rise even higher with GIS or private pension income.
Who Is Eligible for the $1,546 OAS Deposit?
Basic Eligibility Requirements:
To qualify for OAS pension, you need to:
- Be 65 years of age or older.
- Be a Canadian citizen or legal resident at the time your pension is approved.
- Have lived in Canada for at least 10 years after turning 18.
If you live outside Canada, you must have resided in Canada for 20 years or more after age 18. This is especially important for Canadian expatriates, snowbirds, or retirees living abroad.
It’s important to know that Service Canada may automatically enroll you in OAS. However, some people—especially those who’ve moved around or lived abroad—may need to apply manually. Always confirm through your My Service Canada Account.
Understanding CPP Eligibility
The Canada Pension Plan (CPP) provides monthly retirement income to people who contributed to the plan while working. Unlike OAS, which is based on residency, CPP is based on employment and payroll contributions.
- You can begin CPP as early as age 60, but full benefits begin at 65.
- Delaying CPP until age 70 results in a higher monthly benefit.
2025 Payment Details:
- Average CPP payout: $808.14/month
- Maximum CPP payout: $1,433/month
By combining both OAS and CPP, many retirees are seeing deposits of $1,546 or more each month, providing a solid foundation for retirement income.
How Much Will You Receive from OAS?
April 2025 OAS Payment Breakdown:
- Ages 65–74: Up to $727.67/month
- Ages 75+: Up to $800.44/month
The OAS increase at age 75 reflects the government’s effort to better support older seniors, who often face rising healthcare and housing costs. These payments are automatically adjusted to match inflation, ensuring they maintain purchasing power over time.
In addition to the basic OAS pension, low-income seniors may qualify for:
- Guaranteed Income Supplement (GIS)
- Allowance for the Survivor
- Allowance for the Spouse/Common-law Partner
Check your personalized eligibility and amounts at your My Service Canada Account.
What is the OAS Clawback (Recovery Tax)?
The OAS Clawback, officially called the OAS Recovery Tax, applies when your annual income exceeds a specific threshold. In 2025, that threshold is $86,912.
Here’s how it works:
- For every dollar of net income above $86,912, you must repay 15 cents.
- If your income reaches $142,609 or more, you’ll repay the entire OAS benefit.
Real-World Example:
If you earned $100,000 in net income:
$100,000 – $86,912 = $13,088
$13,088 x 0.15 = $1,963.20 clawback
This amount is spread across the year and deducted from your OAS payments.
How to Apply for OAS
Not Automatically Enrolled? Here’s What to Do:
- Check your eligibility on Canada.ca.
- Log into your My Service Canada Account or set one up.
- Complete the online application or mail form ISP-3550.
- Upload or send necessary documents (e.g., ID, proof of residency).
- Wait for your decision letter detailing when payments start and how much you’ll get.
Pro Tip: Apply 6 months before your 65th birthday to prevent delays or missed payments.
Important Payment Dates for 2025
OAS and CPP are paid on the same day each month. Mark your calendar with these key dates:
- January 29
- February 27
- March 26
- April 28
- May 29
- June 26
- July 29
- August 28
- September 25
- October 29
- November 27
- December 20
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FAQs about OAS $1,546 Deposits Start This Week
1. Can I get both OAS and CPP?
Absolutely. Most Canadian seniors qualify for both OAS (residency-based) and CPP (contribution-based).
2. Is the $1,546 a one-time payment?
No. It represents the combined monthly average for seniors who receive both OAS and CPP. This amount can vary based on your age, work history, and income.
3. Is OAS taxable?
Yes. OAS counts as taxable income. You can request taxes to be withheld monthly to avoid a large bill at tax time.
4. Can I receive OAS while living abroad?
Yes, if you’ve lived in Canada for at least 20 years after turning 18. If not, your eligibility may be limited to the years you were in Canada.
5. Can I delay OAS for a bigger payout?
Yes! If you delay your OAS up to age 70, your payment increases by 0.6% for every month delayed, up to 7.2% per year. That’s a possible 36% increase over five years.
6. What other benefits might I qualify for?
- GIS for low-income seniors
- Allowance if your spouse receives GIS and you’re 60–64
- Survivor’s Benefit under CPP
