Legislative Costing Note
Increasing Old Age Security for Canadians 75 and Over
Jun 23, 2021
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- Providing a one-time taxable payment of $500 in August 2021 to OAS pensioners who will be 75 or over as of June 2022. This will include seniors whose OAS pensions have been fully clawed back through the OAS Recovery Tax.
- Increasing OAS payments for pensioners 75 and over by 10 per cent on an ongoing basis as of July 2022.