$1,266 OAS Payment Increase in February 2025 – Find Out the Deposit Schedule

As such, the current rumor among the seniors of Canada is about an annual increase in Old Age Security (OAS) payments by $1,266 starting in February 2025. If true, it will translate to an average increase of $105.5 every month. This bears good news to elderly people who have to grapple with poisonous inflation and expenditures.

However, this seems to run against what the official position of the Canada Revenue Agency (CRA) states. According to the CRA, there would be no increase in the payment of OAS during the first quarter of 2025, that is, during the months of January, February, and March. Many senior citizens are at a loss because of this mismatch and would like clarification.

Old Age Security is a strong support mechanism for seniors in Canada. Some may not know, but these payments usually vary from quarter to quarter depending on a price index which maintains purchasing power for the elderly. The monthly addition of $105.5 would go a long way in favor of those that live on low incomes and are facing increasing costs in housing, food, and health.

Rumors about an annual increase of $1,266 do not meet the official announcement as well: the CRA declared that there would be no increase in OAS payments at least in January, February, and March 2025. This scenario has created confusion in many seniors as the news goes rapid like fire on social media and then to other platforms.

OAS Annual Raise From Feb 2025/ Overview

Canada Old Age Security Eligibility 2025

This increase in OAS payments is applicable only to regular beneficiaries. This means that only those persons, who fulfill the requirements to get this payment before, will be able to get this benefit.

• In getting OAS, the following requirements must be met.
• In terms of age limit, it includes seniors above 65 years.
• Citizenship Residency: Only Canadian citizens or permanent residents can avail of OAS.
• Minimum Residence Period: The individual must have resided in Canada for at least 10 years after turning 18.

Income Limits: Those who fall within the prescribed income limits will receive this benefit automatically.

CRA OAS Payment Date 2025

In future, if OAS payments happen to increase, they will be distributed according to the current practice of the Government of Canada. All the seniors who get OAS payments can either have their payments done through direct deposit or through a cheque mailed to their respective addresses. To get payments punctually, beneficiaries must ensure their bank account information or mailing addresses is correct and up to date.

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Fact Check: $1,266 Annual Raise In OAS Payments

The said increment will not be applicable according to CRA during January, February, or March of 2025. A possible increase after April 2025 can’t be ruled out. As of now, the word about the $1,266 annual increase is pure gossip and can’t be treated as a government announcement. This propaganda has been flaring rapidly over the social media and online forums, raising many expectations from seniors.

It is vital that all seniors get the correct information only from official sources, like the CRA official website or Service Canada page. Also, seniors should be warned about any frauds or scams that might try to mislead people in the name of OAS payment increase.

Read More :- Get Your $1,800 GIS Payment in February 2025 – CRA Payment Dates Explained

Conclusion

Confusion was caused by rumors of a $1,266 annual increase in OAS payments beginning in February 2025, with no such increase at all. However, the CRA has made it abundantly clear that the first quarter of 2025 will not see an increase. Therefore, all beneficiaries should trust only official sources and stay away from rumors.

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