A person on a calculator to denote someone calculating their budgeting based on CERB ends and being replaced by new EI, CRB, CRSB and CRCB programs.

How much will my OAS payment be? Old Age Security payment questions

Hi everyone! Hope it’s nice and sunny wherever you’re joining us from. I wanted to post a quick and helpful link about Old Age Security payment amounts. On our post Old Age Security and CPP Payments for 2021, Don left a comment and asked a very important question. He asked what the amount would be for his OAS (Old Age Security) payment come January 2021.

So, I went and did a little research and provided this link for him in replying to his comment. But then I decided that actually a lot of our visitors might find this information helpful! Here is a link to the Government of Canada website that discusses how to calculate what your OAS payment amount will be starting in January 2021. https://bargainblog.ca/cpp-and-oas-payment-dates-2021-canada-pension-plan-payments-and-old-age-security/

Maximum Old Age Security Payment (OAS) in Canada

You’ll find much more information on the government’s website, but basically the OAS maximum payment amount per month is $614.14. There are also other benefits available, which you can find on the link I provided above. The Old Age Security benefits are reviewed four times a year – in January, April, July and October – to ensure that the payments are reflecting the increased costs of living.

We really hope this link and information helps you to plan and budget for next year. Please take care all, and stay safe.

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