OAS Payment Dates September 2024 : $2650 OAS Payment September 2024 Eligibility, Date & Fact Check

OAS Payment Dates for September 2024 : The Old Age Security (OAS) program is a crucial part of Canada’s social safety net, providing financial support to seniors across the country. With a new payment amount of $2650 set for September 2024, many Canadians are eager to understand who qualifies for this payment, the exact date it will be disbursed, and the accuracy of recent claims circulating online. This article provides a detailed breakdown to help you navigate the OAS payment updates.

The Old Age Security (OAS) pension is one of Canada’s key retirement benefits, providing financial support to eligible seniors aged 65 and older. The payments are made monthly, and it’s important to know when to expect them so you can plan your finances accordingly. In this blog, we’ll focus on the OAS payment dates for September 2024 and provide some additional tips on eligibility, how the payments are made, and what to do if you encounter any delays.

1. What is the Old Age Security (OAS) Pension?

The Old Age Security (OAS) pension is a monthly payment available to seniors aged 65 and older who meet the residency requirements in Canada. It is funded through general tax revenues, meaning you don’t need to contribute to it during your working years, unlike the Canada Pension Plan (CPP). The OAS provides basic income support to help seniors cover their living expenses after retirement.

In addition to the base OAS pension, there are other benefits available, including:

• Guaranteed Income Supplement (GIS): For low-income seniors receiving OAS.
• Allowance: For individuals aged 60 to 64 who are married to or in a common-law relationship with someone eligible for GIS.
• Allowance for the Survivor: For individuals aged 60 to 64 whose spouse or common-law partner has passed away.

2. OAS Payment Date for September 2024

For September 2024, the OAS payment will be deposited or mailed out on the following date:

September 27, 2024 (Friday)

This is the official OAS payment date for seniors expecting their pension in September 2024. Payments are typically issued on the last three business days of each month, so September 27, 2024, falls within that window.

3. How Are OAS Payments Delivered?

There are two primary methods for receiving OAS payments:

• Direct Deposit: This is the most efficient and secure way to receive your OAS pension. If you have set up direct deposit, the funds will be automatically deposited into your bank account on the payment date. It is the fastest way to access your benefits, and you won’t have to worry about potential delays in the mail.
• By Cheque: If you have not signed up for direct deposit, your payment will be mailed to you. Keep in mind that mail delivery times can vary, so if you are expecting a cheque, it may take a few extra days to arrive after the payment date.

If you haven’t yet signed up for direct deposit, it’s highly recommended that you do so. It’s simple to set up and ensures that you receive your payments promptly without the risk of mail delays.

4. Eligibility for OAS Payments

To receive OAS payments, you must meet the following criteria:

• Age: You must be at least 65 years old.
• Residency: You must have lived in Canada for at least 10 years after turning 18. If you’ve lived and worked outside of Canada, you may still qualify if you have lived in a country that has a social security agreement with Canada.
• Citizenship: You must be a Canadian citizen or legal resident when your OAS application is approved. If you live outside Canada, you must have lived in the country for at least 20 years after turning 18 to continue receiving payments.

If you delay starting your OAS beyond age 65, you may be eligible for a higher monthly payment.

5. OAS Payment Amounts

The amount you receive through OAS depends on how long you’ve lived in Canada as an adult. If you’ve lived in Canada for 40 years or more after turning 18, you will receive the maximum OAS pension amount.

For 2024, the maximum OAS payment amount will vary based on inflation and adjustments made by the government. Generally, the OAS amount is indexed quarterly to the cost of living, meaning it can increase to reflect inflation rates. In July 2024, the latest update to the payment amounts will likely occur, so check with the official government website for current figures closer to that time.

6. What to Do If Your OAS Payment is Late

If you don’t receive your OAS payment on the expected date, here’s what you can do:

• Direct Deposit Delay: Payments via direct deposit should arrive on the specified date. If your deposit doesn’t show up, check with your bank first to ensure there are no internal issues. If the delay persists, contact Service Canada.
• Mailed Cheques: If you receive your OAS payment by mail, allow a few extra days for delivery, as postal services can be slower depending on your location. If a significant amount of time passes and you still haven’t received your cheque, contact Service Canada to request a replacement.

7. How to Contact Service Canada for OAS Inquiries

If you have questions or concerns about your OAS payment, you can reach out to Service Canada for assistance. Here are the ways to get in touch:

• Phone: Call 1-800-277-9914 (toll-free) to speak with a representative. The lines are open Monday to Friday, 8:30 a.m. to 4:30 p.m. local time.
• In-Person: You can visit a Service Canada office near you. Make sure to check the office hours before visiting.
• Online: Visit the Service Canada website for information, or log in to your My Service Canada Account to check your payment status.