For Canadian seniors aged 65 and over, May brings a critical date—Wednesday, May 28. On this day, millions will see their Old Age Security (OAS) pension payment land in their accounts. Whether you’re already receiving benefits or approaching eligibility, this comprehensive guide explains everything you need to know about the May 2025 OAS payment, including exact amounts, who qualifies, and what steps to take next.
Table of Contents
What Is the Old Age Security Program?
Old Age Security (OAS) is one of Canada’s foundational retirement income supports. It’s a monthly pension payment from the federal government designed to help seniors cover day-to-day living expenses. Managed by Service Canada, the OAS program is separate from the Canada Pension Plan (CPP) and is funded through general tax revenue.
When Will the May 2025 OAS Payment Be Made?
The official OAS payment date for May 2025 is Wednesday, May 28. Payments are issued during the final week of each month, either by:
- Direct deposit, which typically shows up in your account the same day
- Mailed cheque, which may take several additional business days to arrive
If you are set up for direct deposit, you should check your bank account early on May 28 to confirm the deposit has arrived.
How Much Can You Expect to Receive in May?
The OAS amount you receive depends on your age and net annual income. As of May 2025, here are the maximum monthly amounts available:
- Seniors aged 65 to 74: Up to $727.67
- Seniors aged 75 and older: Up to $800.44
These figures reflect the most recent adjustments made for inflation. Service Canada reviews and updates OAS amounts every quarter—in January, April, July, and October—based on the Consumer Price Index (CPI).
What If You Receive Less?
Your monthly OAS benefit may be reduced if your annual income exceeds the income threshold for the OAS recovery tax (often called the clawback). The clawback begins when your income surpasses a set limit, and the benefit is gradually reduced based on how much over the limit you earn.
Are You Eligible for OAS?
To receive OAS, you must meet the following criteria:
- Be 65 years of age or older
- Be a Canadian citizen or legal resident
- Have lived in Canada for at least 10 years after turning 18
If you live outside of Canada, you may still qualify—provided you resided in Canada for at least 20 years as an adult before leaving.
OAS Payment Dates 2025: Increases and Amounts Explained
CPP Payment Dates 2025: Increases & Amounts
Here’s Who Can Receive the Maximum CPP Pension in Canada
Smart Strategies to Maximize Your CPP Benefits and Increase Retirement Income
How and When to Apply for Old Age Security
Most people are automatically enrolled around their 64th birthday. If you’re eligible, you’ll receive a letter from Service Canada explaining your options and asking you to confirm your preferred start date.
If you don’t receive this letter within a month of turning 64, you should apply manually. You can apply:
- Online through your My Service Canada Account
- By mail or in person using a paper application form and supporting documents
You can start receiving OAS as early as age 65 or delay until age 70 for a larger monthly payment.
Is the OAS Benefit Taxable?
Yes, Old Age Security is considered taxable income. You can handle the taxes in one of two ways:
- Pay the tax when filing your annual income tax return
- Ask Service Canada to withhold tax from your OAS payments every month
If you prefer the second option, log into your My Service Canada Account or submit a voluntary tax deduction form.
Upcoming OAS Payment Dates for the Rest of 2025
Here’s a quick look at future OAS payment dates to help you plan ahead:
- June 26
- July 29
- August 27
- September 25
- October 29
- November 26
- December 22
Keep these dates in mind so you can better manage your retirement budget each month.
Final Thoughts: Take Action Now to Secure Your Benefit
The May 28 OAS payment is more than just another deposit—it’s a lifeline for many seniors dealing with rising living costs. Whether you’re receiving $727.67 or $800.44, every dollar matters.
If you’re turning 65 soon or haven’t confirmed your eligibility, take the time now to check your My Service Canada Account, gather your documents, and make sure you’re ready. Staying informed ensures you never miss a payment and helps you plan your financial future with confidence.