CRA Announces $1,700 OAS Plus $650 Bonus: The Canada Revenue Agency (CRA) has announced updates regarding the Old Age Security (OAS) pension for March 2025, including an increased $1,700 payment plus a $650 bonus for eligible seniors. These enhancements are part of the government’s commitment to supporting retirees amid rising living costs and inflation.
If you’re a Canadian senior or planning for retirement, it’s important to understand who qualifies, how to claim these payments, and when to expect the funds. This article provides a detailed breakdown of the new OAS payment structure, eligibility criteria, and key updates from the CRA.
CRA Announces $1,700 OAS Plus $650 Bonus
| Topic | Details |
|---|---|
| Total OAS Payment for March 2025 | Up to $1,700 (including regular OAS and additional adjustments) |
| Bonus Amount | $650 one-time payment for eligible seniors |
| Eligibility | Canadians aged 65+ meeting residency and income requirements |
| Payment Date | March 2025 (Exact date to be confirmed) |
| Reason for Increase | Cost-of-living adjustment (COLA) based on the Consumer Price Index (CPI) |
| How to Apply | Automatic for most seniors; apply via CRA OAS Portal if not enrolled |
| Official Source | Government of Canada OAS Page |
The CRA’s March 2025 OAS increase is a significant boost for Canadian seniors, with payments reaching up to $1,700, plus a $650 bonus for eligible recipients. With automatic enrollment, direct deposit options, and tax-free benefits, these payments provide much-needed relief to seniors facing rising costs.To stay updated on your OAS payments, visit Government of Canada OAS Page.
March 2025 OAS Payment Increase
The Old Age Security (OAS) program is a vital government benefit designed to provide financial support to seniors in Canada. OAS payments are adjusted quarterly based on the Consumer Price Index (CPI) to ensure they keep up with inflation.
For March 2025, the OAS payment has been increased to $1,700, reflecting recent cost-of-living adjustments. Additionally, a one-time $650 bonus is being provided to select seniors as part of the government’s affordability initiatives.
These payments are designed to help seniors manage rising expenses, particularly in areas like housing, healthcare, and daily essentials.
Who Qualifies for the $1,700 OAS Payment and $650 Bonus?
To receive the full OAS payment and bonus, seniors must meet specific eligibility criteria:
1. Age Requirement
- Must be 65 years or older at the time of payment.
2. Residency Requirement
- Must be a Canadian citizen or legal resident at the time of application.
- Must have lived in Canada for at least 10 years after turning 18.
3. Income Threshold
- Seniors with an annual income below $90,997 (as of 2024) qualify for full OAS.
- Higher-income seniors may experience partial reductions due to the OAS clawback (Recovery Tax).
4. Automatic Enrollment
- Most eligible seniors are automatically enrolled.
- If not automatically enrolled, seniors must apply via Service Canada.
The $650 bonus is available only to seniors with low-to-moderate income who qualify for the Guaranteed Income Supplement (GIS).
How Much Will You Receive?
Your OAS payment amount depends on your age and income level. Below is a breakdown of OAS amounts for March 2025:
| Age Group | Regular OAS Payment | Total with Bonus |
|---|---|---|
| 65 – 74 years | $1,050 | $1,700 (with $650 bonus) |
| 75+ years | $1,150 | $1,800 (with $650 bonus) |
Additionally, seniors receiving Guaranteed Income Supplement (GIS) may receive extra benefits to supplement their OAS payments.
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Claim Your OAS Payment and Bonus
If you’re eligible for OAS, your payments will generally be deposited automatically. However, if you need to apply, follow these steps:
1. Check Your OAS Enrollment Status
- Log in to your My Service Canada Account.
- If you’re automatically enrolled, no further action is needed.
2. Apply for OAS if Necessary
- If you’re not automatically enrolled, complete the OAS application form on the CRA website.
3. Ensure Your Banking Information is Updated
- Direct deposit is the fastest way to receive payments. Update your bank details via Service Canada.
4. Check Payment Dates
- The OAS payment for March 2025 will be issued on the third-to-last business day of the month.
If you do not receive your payment, contact the CRA immediately.
FAQs
1. When will the March 2025 OAS payments be issued?
The exact date will be confirmed, but OAS payments are typically issued on the third-to-last business day of each month.
2. How do I check if I qualify for the $650 bonus?
The bonus is targeted at lower-income seniors who receive the GIS supplement. If you already receive GIS, you will likely qualify automatically.
3. Is the $650 bonus taxable?
No, the one-time $650 bonus is a non-taxable payment, meaning it will not impact your taxable income.
4. Will OAS payments continue to increase in 2025?
Yes, OAS payments are adjusted every three months based on the Consumer Price Index (CPI).
5. What happens if I don’t receive my OAS payment on time?
If your payment is delayed, contact Service Canada or check your My Service Canada Account for updates.
