Increasing Old Age Security for Canadians 75 and Over

The government will increase Old Age Security (OAS) benefits for seniors age 75 and older. Budget 2021 proposes to implement this commitment in two steps:

1. By providing a one-time payment of $500 in August 2021 to OAS pensioners who will be 75 or over as of June 2022.
2. By introducing legislation to increase regular OAS payments for pensioners 75 and over by 10 per cent on an ongoing basis as of July 2022.

This would increase the benefits for 3.3 million seniors, providing additional benefits of $766 to full OAS pensioners in the first year, and indexed to inflation going forward.

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