On July 1, 2022 Old Age Security (OAS) recipients who were 75 years of age or older received a 10% increase in the amount of their monthly OAS payment. This will continue and as OAS recipients turn 75 they too will receive this increase.
There is no need to apply for this increase. It is automatic for all seniors receiving Old Age Security payments.
While OAS payments are increased quarterly to keep up with the cost of living, this is the first time in a very long time that the actual amount of the Old Age Security has been increased. It is a gain for seniors.
However, too many seniors still struggle with poverty, and as a result many seniors organizations would prefer that the OAS increase was applied to all seniors, not just those over 75.