As May 2025 approaches, many Canadian seniors are preparing to receive their monthly Old Age Security (OAS) payments. Among them are individuals who qualify for partial pensions, with annual payments reaching approximately $2,455.
Whether you’re nearing retirement, assisting a family member, or reviewing your financial plan, understanding the full scope of the OAS program is crucial to maximizing your benefits.
This comprehensive guide covers everything about the $2,455 OAS Payment in May 2025, including eligibility, payment dates, clawback rules, and additional benefits like GIS and Allowance.
What Is the $2,455 OAS Payment?
The $2,455 figure represents the annual amount for a partial Old Age Security pension—a benefit designed for seniors who have lived in Canada for at least 10 years after turning 18.
Since full Old Age Security requires 40 years of residency, partial pensions are prorated accordingly. For example, 10 years of residency equals 25% of the full pension.
Example Calculation:
| Pension Type | Monthly Amount | Annual Total |
|---|---|---|
| Full OAS (Age 65–74) | $727.67 | $8,732.04 |
| Partial OAS (25% of full) | $181.92 | ~$2,183.04 |
| Partial OAS (approx. 28.1%) | ~$204.58 | $2,455 (estimated) |
Note: Actual amounts may vary slightly due to quarterly CPI adjustments.
OAS Payment Date – May 2025
The scheduled Old Age Security payment date for May 2025 is:
Wednesday, May 28, 2025
Payments are made monthly, usually via direct deposit or mailed cheque. To receive your payment without delays, ensure your banking and contact information is current on your My Service Canada Account (MSCA).
Eligibility Criteria for OAS
To qualify for any OAS payment, including partial or full amounts, you must meet the following:
Basic Requirements:
- Age: 65 years or older
- Residency: At least 10 years in Canada after age 18 (for partial pension) or 40 years for full
- Legal Status: Must be a Canadian citizen or legal resident
- Living Abroad: You may qualify if you lived in Canada 20+ years after age 18
Additional Benefits Linked to OAS
The Government of Canada provides supplementary benefits alongside Old Age Security to support low- and moderate-income seniors.
Guaranteed Income Supplement (GIS)
| Status | Maximum Monthly GIS |
|---|---|
| Single/Widowed/Divorced | $1,086.88 |
| Married (both receiving OAS) | $654.23 |
Allowance (Ages 60–64)
For low-income spouses or common-law partners of GIS recipients:
- Up to $1,381.90/month
Allowance for the Survivor (Ages 60–64)
For individuals whose spouse or partner has passed away:
- Up to $1,647.34/month
These rates are valid from April to June 2025 and may adjust quarterly.
OAS Clawback: The Recovery Tax You Should Know
If your net annual income exceeds $86,912, your Old Age Security may be subject to a clawback, officially known as the Old Age Security Recovery Tax. Here’s how it works:
| Income Level | Impact |
|---|---|
| $86,912+ | Clawback begins (15 cents per $1) |
| ~$142,609 | Full OAS benefit is clawed back |
This is determined when filing your income taxes. High-income retirees should consider tax-efficient income planning to reduce or avoid clawbacks.
How to Apply for the $2,455 Old Age Security Payment (If Not Automatically Enrolled)
Most seniors are automatically enrolled, but if you’re not, follow these steps:
Step-by-Step Guide:
- Check your enrollment status via your MSCA.
- Submit an application at least 6 months before your 65th birthday if not enrolled.
- Apply online through MSCA or submit the paper application form (ISP-3000).
- Wait 1–2 months to receive confirmation and payment details.
Applying on time ensures you don’t miss out on any Old Age Securitypayments.
The $2,455 Old Age Security Payment in May 2025 highlights the Government of Canada’s effort to support seniors, even those with shorter residency periods.
Whether you’re eligible for a partial or full pension, understanding your entitlements is essential for smarter retirement planning.
Check your status, enroll on time, and explore other programs like GIS and Allowance to ensure you’re receiving the full benefits you deserve. With the right planning, you can make the most out of your retirement years in Canada.
FAQs
Can I receive the $2,455 OAS payment if I live outside Canada?
Yes, if you have lived in Canada for 20+ years after age 18 and meet all other eligibility conditions.
Is the $2,455 payment a one-time bonus or ongoing?
The $2,455 reflects the annual amount for individuals receiving a partial pension due to shorter Canadian residency.
How do I increase my OAS pension amount?
The only way to increase your OAS is by delaying your application (up to age 70) or accumulating more residency years before turning 65.