Posted by In April 2025, Canadian seniors aged 65 and older can anticipate significant financial support through the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS).
These programs aim to provide a stable income for retirees, especially those with limited financial resources.
Understanding OAS and GIS Payments
The following table outlines the maximum monthly payments for April 2025:
| Benefit Program | Age Group | Maximum Monthly Payment (April 2025) |
|---|---|---|
| OAS | 65–74 | $727.67 |
| 75 and over | $800.44 | |
| GIS | Single seniors | Up to $1,086.88 |
| Couples (both receiving Old Age Security) | Up to $654.23 each |
Payment Date
Both Old Age Security and GIS payments for April 2025 are scheduled for April 28, 2025. Beneficiaries who have set up direct deposit will receive their payments on this date, while those receiving payments by cheque may experience delays due to mail processing times.
Eligibility Criteria
- OAS Eligibility:
- Must be 65 years or older.
- Must be a Canadian citizen or legal resident.
- Must have resided in Canada for at least 10 years after age 18.
- GIS Eligibility:
- Must be receiving Old Age Security.
- Must have a low annual income:
- Single seniors: Income less than $22,056.
- Couples (both receiving OAS): Combined income less than $29,136.
- Couples (one receiving Old Age Security): Income thresholds vary based on specific circumstances.
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How to Apply
- OAS and GIS:
- Many seniors are automatically enrolled in Old Age Security and GIS upon meeting eligibility criteria.
- If not automatically enrolled, apply online through the My Service Canada Account or by mailing a completed application form to Service Canada.
Additional Benefits
Beyond Old Age Security and GIS, seniors may qualify for other benefits such as the Allowance for the Survivor and provincial supplements. It’s advisable to explore all available programs to maximize financial support during retirement.
Understanding the details of Old Age Security and GIS payments is crucial for Canadian seniors to effectively plan their retirement finances.
Ensuring timely applications and staying informed about eligibility criteria can help maximize the benefits available to you.
FAQs
How do I know if I’m automatically enrolled in OAS and GIS?
Service Canada will notify you if you’re automatically enrolled. If you don’t receive a notification, you may need to apply manually.
Can I receive both OAS and GIS?
Yes, if you meet the eligibility criteria for both programs, you can receive both benefits.
Are OAS and GIS payments taxable?
Old Age Security payments are taxable income. GIS payments are non-taxable.