The federal government has increased the old-age security benefit by 1.2 per cent as of July 1.

The change means a single senior receiving OAS and the guaranteed income supplement with no other income may receive $1,728.84 more today than in November 2015

The government also noted that restoring the age of eligibility for OAS and GIS benefits to 65 from 67 was an important step in making sure vulnerable seniors don’t face higher risks of living in poverty.

Read: New CPP, OAS benefit amounts take effect for 2018

“The government of Canada is committed to helping Canadians access secure retirement benefits,” said Jean-Yves Duclos, minister of families, children and social development, in a press release.

“That is why we have continued to increase support through the OAS and GIS, so that all Canadians can have a secure and dignified retirement.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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Rose Fulawka:

So you have to be single ???? I get very little pension so I take it there is no increase for me .

Wednesday, July 04 at 12:55 am | Reply

Barb:

Effective Jan. 1, 2018, CPP payments will increase by 1.5 per cent for those already receiving benefits. For 2018, the maximum CPP retirement benefit for new recipients age 65 will be $1,134.17 per month, which represents a $20

Wednesday, July 04 at 1:38 pm

Peter Gorham:

Barb, all Canadians who receive Old Age Security benefits are getting an increase beginning July 1. If inflation has been big enough, OAS benefits are increased every 3 months. The basic OAS benefit is increasing from $589.59 per month in June 2018 to $596.67 per month for July to September 2018. Those amounts cover most people who get OAS.

Some people who receive OAS also qualify for other payments. They will be getting a bigger increase because of those other benefits they receive. The number quoted in the article was for someone with low income who qualifies for those other payments.

Wednesday, July 04 at 6:47 pm

Marie:

Oh wow! A big fat $7.00 increase per month! Not quite! ! That might buy a loaf of bread to help out tremendously!

Thursday, July 05 at 10:52 am | Reply

Shirley Hanlon:

what is $7.00 a month gonna do for a senior not a whole lot , my rent increased more than that in subsidised housing ,not too pleased to say the least ..

Thursday, July 05 at 4:26 pm | Reply

Carol Ramsumair:

I currently receive survivor’s pension from Canada, I live in Trinidad, would this payment continue after I reach 60 years, if so, is it the same amount?

Thursday, July 05 at 8:39 pm | Reply

Gladys:

Carol, the survivors pension is paid to the survivor until you reach the age of 65… you can check it out. Online.

Thursday, July 04 at 2:18 pm

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