The proposal comes as the Biden administration’s plan to forgive up to $20,000 in student debt remains in limbo.
Source: CBS
ADM projects, a sustainable label founded by artistic director Ebele Udoh Grant-Ezeronye, has just released its Spring/Summer 2022 wearable art collection. The brand seeks to empower…
<img src="https://www.mtlblog.com/media-library/canadian-money.jpg?id=55738955&width=1200&height=800&coordinates=0%2C0%2C0%2C0"/><br/><br/><p>January is already more than halfway over, and that means seniors in Quebec and across Canada can expect their first <a href="https://www.mtlblog.com/canada-revenue-agency-benefits-review-2025" target="_blank">government benefit payments</a> of the year soon, including the Old Age Security payment for January.</p><p>Old Age Security (OAS) is an essential pension program issued by the <a href="https://www.mtlblog.com/uncashed-cheques-cra-revenu-quebec" target="_blank">Canada Revenue Agency</a> (CRA) that's designed to help Canadians aged 65 and older cover everyday costs during retirement. It's one of many <a href="https://www.mtlblog.com/revenu-quebec-cra-payment-dates-january-2025" target="_blank">payments Quebecers can get from the government in January</a> to help with the cost of living.</p><p>Whether you're already receiving OAS or considering your eligibility, this <a href="https://www.mtlblog.com/tag/government-payments" target="_blank">government payment</a> can make a significant difference in managing expenses. </p><p>For those who qualify, your first OAS payment of 2025 will land in your bank account next week. Not everyone is automatically eligible though, so it's a good idea to double-check the requirements to ensure you're all set.</p><p>Here's everything you need to know about the January 2025 OAS payment, from how much you can expect to who qualifies.</p><h3>What is Old Age Security?</h3><br/><p>Old Age Security (OAS) is a monthly government payment program that provides financial support to Canadians aged 65 and older. It's a key part of retirement planning, helping seniors manage their everyday living expenses. </p><p>The great news? Many Canadians are automatically enrolled and start receiving their OAS payments as soon as they hit the qualifying age.</p><p><a href="https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.html" target="_blank">More about OAS</a></p><h3>Who is eligible for Old Age Security?</h3><br/><p>One of the best things about Old Age Security (OAS) is that it doesn't depend on your work history. Whether you're retired, still working or have never been part of the workforce, you could still qualify for this benefit.</p><p>To be eligible for OAS, you must:</p><ul><li>be at least 65 years old,</li><li>be a Canadian citizen or legal resident when your application is approved, and</li><li>have lived in Canada for at least 10 years since turning 18.</li></ul><p>If you're living abroad, you might still qualify. The key is that you must have been a Canadian citizen or legal resident before leaving and have spent at least 20 years in Canada as an adult.</p><p><a href="https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/eligibility.html" target="_blank">More about OAS eligibility</a></p><h3>How to apply for Old Age Security</h3><br/><p> If you’re approaching your 65th birthday and haven’t received a notice from Service Canada about your OAS eligibility, it might be time to take the next step. While many people are automatically enrolled, it’s a smart move to apply if you don’t get notified by the month following your 64th birthday. </p><p> The application process is straightforward and can be done in two ways: </p><ul> <li><strong>Online</strong>: Log in to your <a href="https://www.canada.ca/en/employment-social-development/services/my-account.html" target="_blank">My Service Canada Account</a> to complete the application. Be sure to have all your personal details ready, as the system doesn't allow you to save and return to a half-completed application later.</li> <li><strong>By mail or in person</strong>: Fill out the paper <a href="https://catalogue.servicecanada.gc.ca/content/EForms/en/CallForm.html?Lang=en&PDF=ISP-3550.pdf" target="_blank">application form</a>, making sure to include certified copies of any required documents, then <a href="https://catalogue.servicecanada.gc.ca/content/EForms/en/ReturningtheForm/isp.html?wbdisable=true" target="_blank">mail the form</a> or drop it off at <a href="https://offices.service.canada.ca/en" target="_blank">your local Service Canada office</a>.</li> </ul><p> <a href="https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/apply.html" target="_blank">More about applying for OAS</a> </p><h3>How much is Old Age Security in Canada</h3><br/><p>For January 2025, the maximum Old Age Security (OAS) payment is <strong>$727.67</strong> per month for Canadians aged 65 to 74, and up to <strong>$800.44</strong> per month for seniors aged 75 and older.</p><p>The exact amount you'll receive depends on your income. To qualify for any OAS payment, your net world income for 2024 must have been below $148,451 if you're 65 to 74, or $154,196 if you're 75 or older. If you're unsure about your payment, the <a href="For January 2025, the maximum Old Age Security (OAS) payment is $727.67 per month for Canadians aged 65 to 74, and up to $800.44 per month for seniors aged 75 and older. The exact amount you’ll receive depends on your income. To qualify for OAS, your net world income for 2024 must be below $148,451 if you’re 65 to 74, or $154,196 if you’re 75 or older. If you’re unsure about your payment, the Canada Revenue Agency’s payment estimator is a handy tool to figure out how much you’ll get. OAS payments are reviewed quarterly—in January, April, July and October—to adjust for inflation. This ensures your payment reflects the rising cost of living. And don’t worry, if inflation drops, your payments won’t decrease!" target="_blank">Canada Revenue Agency's payment estimator</a> is a handy tool to help you figure out how much you'll get.</p><p>OAS payments are reviewed quarterly — in January, April, July and October — to adjust for inflation. This ensures your payment reflects the rising cost of living. But don't worry — if inflation drops, your payments won't decrease!</p><p><a href="https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/benefit-amount.html" target="_blank">More about OAS payment amounts</a></p><h3>Is Old Age Security taxable?</h3><br/><p>Yes, Old Age Security payments count as taxable income. While taxes aren’t automatically deducted from your monthly payments, you can request it if you’d prefer to avoid a bigger bill at tax time. Just log into your <a href="https://www.canada.ca/en/employment-social-development/services/my-account.html" target="_blank">My Service Canada Account</a> or fill out the <a href="https://catalogue.servicecanada.gc.ca/content/EForms/en/CallForm.html?Lang=en&PDF=ISP-3520OAS.pdf" target="_blank">Request for Voluntary Federal Income Tax Deductions CPP/OAS form</a> and drop it off with Service Canada.</p><p>If you skip setting up monthly deductions, you might need to pay taxes quarterly instead. For tax filing, residents of Canada will receive a T4 slip for their OAS payments, while those living abroad will get an NR4 slip.</p><p><a href="https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/while-receiving.html#h2.3" rel="noopener noreferrer" target="_blank">More about OAS and your taxes</a></p><h3>When do Old Age Security payments go out?</h3><br/><p>The next Old Age Security (OAS) payment is scheduled to arrive in bank accounts on <strong>Wednesday, January 29</strong>.</p><p>Here are all the other remaining OAS payment dates for 2025:</p><ul><li>February 26, 2025</li><li>March 27, 2025</li><li>April 28, 2025</li><li>May 28, 2025</li><li>June 26, 2025</li><li>July 29, 2025</li><li>August 27, 2025</li><li>September 25, 2025</li><li>October 29, 2025</li><li>November 26, 2025</li><li>December 22, 2025</li> </ul><p> <a href="https://www.canada.ca/en/services/benefits/calendar.html" target="_blank">More about OAS payment dates</a> </p><p><em>Love this? Check out our <a href="https://www.mtlblog.com/notices/" target="_blank">MTL Blog noticeboard</a> for details on jobs, benefits, travel info and more!</em></p><p><em>AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog's Editorial team. For more information on our use of AI, please visit our <a href="https://www.mtlblog.com/editorial-standards" target="_blank">Editorial Standards page</a>.</em></p>
Air travel is remarkably, astonishingly safe. Every year, commercial US airlines take more than 800 million domestic passengers to their destinations, and in a typical year, zero of them are killed and very few are injured. It’s a track record made possible by a fairly intense commitment to safety. But increasingly over the last few […]
