More Support for Canadian Seniors is coming after federal changes to the Old Age Security fund.
Adjusting for inflation, this increase looks like a 2.8 percent rise from last year.
Eligible seniors aged 65 to 74 years were to receive a maximum monthly amount of up to $718.33, with those over 75 receiving even more.
On top of the pension, seniors and their partners may also be eligible for extra benefits such as the Guaranteed Income Supplement, Allowance and the Allowance for the Survivor under the OAS program. These three benefits are non-taxable.
For single, widowed or divorced Canadians aged 65 or older and earning an annual net income of less than $21,768, the maximum GIS payment per month for the July to September period is set for $1,072.93.
to be eligible for the OAS payments, a person must be at least 65 years old, and In most cases, Canadians are automatically enrolled into the OAS plan when they turn 65.
