- Old Age Security payments have increased for seniors aged 65 to 74 from $743.05 to $751.97, while those aged 75 and older will see their payments rise from $817.36 to $827.17.
- The boosted Old Age Security payment will be deposited into seniors' bank accounts this week, specifically on July 29, 2026.
- Payments for Old Age Security and Canada Pension Plan (CPP) will be made on Wednesday, marking the first deposit to reflect the new rates for the July-through-September period.
- For the July through September 2026 period, the new pension ceilings are set at $751.97 for ages 65 to 74 and $827.17 for those 75 and older, provided their net annual income is below specified thresholds.
- The maximum income thresholds for receiving the full Old Age Security payments are $152,062 for those aged 65 to 74 and $157,923 for those aged 75 and older.
Canada's Old Age Security (OAS) payments have been boosted for the July through September 2026 period. Seniors aged 65 to 74 can now receive up to $751.97 monthly, while those 75 and older can get up to $827.17.12567
The increase reflects adjustments based on income thresholds: recipients aged 65 to 74 must have a net annual income under $152,062, and those 75 and older must earn less than $157,923.8
The new payment rates replace the previous amounts that had been in effect since April, with the first payment of the new quarter scheduled for July 29, 2026.
Money will be deposited directly into seniors' bank accounts for those enrolled in direct deposit.
The adjustments are part of a broader strategy to support seniors financially, especially as living costs continue to rise.
The maximum monthly OAS payment is designed to assist those with lower incomes, as payments are gradually reduced for individuals earning above the specified thresholds.
For the 2026 calendar year, the average benefit for new recipients is projected to be $877 per month, with the maximum benefit amount reaching $1,507.65 monthly.
This increase aims to provide essential financial support to seniors during challenging economic times.
“The new Old Age Security payment rates will be effective for the July through September 2026 period, with the first payments hitting bank accounts on July 29. Seniors with net incomes below $152,062 for ages 65 to 74 and $157,923 for those 75 and older will qualify for the maximum amounts.”
