OAS Payment Dates: 2022 Old Age Security Deposits

The Old Age Security Canada pension is one of Canada’s retirement income sources for its aging citizens.

Available for Canadians 65 years old or older, you can receive the benefit if you meet the qualifications.

Knowing when you can expect to receive the payments can be crucial in your financial planning during retirement.

I will discuss the OAS payment dates to help you determine when you receive the pension’s monthly payments in 2022. Additionally, I will give you an overview of the pension to better understand the Old Age Security payment dates.

What is OAS?

The OAS is among the three main retirement income plans in Canada. The other two are the Canada Pension Plan (CPP) and the Employment Pensions Plan or Individual Retirement Savings. Unlike the CPP and Employment Pensions Plan, your OAS does not depend on your employment history in any way.

You need to be a resident in Canada or a Canadian citizen aged above 65 to receive the monthly taxable income. For the CPP, you must retire to begin receiving your pension. You can receive OAS pensions if you are still working or have not worked a day in your life. 

If you earn too much income, you can get some or all of your OAS clawed back. Learn how to avoid the OAS clawback here

OAS Payment Dates

The upcoming OAS payment dates and schedule for 2022 are:

  1. January 27, 2022
  2. February 24, 2022
  3. March 29, 2022
  4. April 27, 2022
  5. May 27, 2022
  6. June 28, 2022
  7. July 27, 2022
  8. August 29, 2022
  9. September 27, 2022
  10. October 27, 2022
  11. November 28, 2022
  12. December 21, 2022

The dates for OAS Canada payments are the same as the CPP. Service Canada distributes the payments for both OAS and CPP on the same dates. You can also check out my article on CPP Payment Dates.

How Much OAS Can You Receive in 2022?

The payment cycles for OAS start in July of each year. For the second quarter in 2021 (October to December), you can receive a maximum of $635.26 per month in your OAS pension.

However, you must have lived at least 40 years in Canada as an adult to qualify for the full amount.

To help you understand how OAS works, here’s an example:

For Example: Jonathan moved from the US to Canada at 35. He has been living in the country for 30 years by the time he reaches 65. It means he has lived 30 years as an adult in Canada. According to the requirements, Jonathan is eligible to receive 30/40th of the full benefit through the OAS. That is 3/4th of what he would receive if he had been living in Canada for 40 years. For the quarter of Oct-Dec 2021, Jonathan can receive 3/4th of $635.26 per month (This was the max for that period).

Before you know about the Old Age Security payment dates, you should know how much you stand to make monthly. The OAS can vary from person to person, depending on how long you have lived in Canada as an adult.

Service Canada updates the maximum monthly amount you can receive based on the Consumer Price Index every quarter in January, April, July, and October.

If you have not lived in Canada for 40 years after turning 18, you can still receive partial pension benefits through OAS Canada. Service Canada determines partial pension benefits through 1/40th of the full pension amount for every full year you have lived in Canada since you turned 18. 

Are You Eligible for OAS Payments?

are you eligible for OAS Payments in Canada infographic

You need to qualify for the OAS payments so you can collect them. Here are some of the eligibility requirements for OAS:

  • You must be at least 65 years of age.
  • If you’re living in Canada, you must be a Canadian citizen or legal resident and have lived in the country for at least ten years since turning 18.
  • If you’re living outside Canada, you must have been a Canadian citizen or legal resident the day before you left Canada and resided in Canada for at least 20 years since you turned 18.
  • In some cases, you can qualify for OAS as an overseas Canadian in a country with a social security agreement with Canada.

The requirements are more comprehensive, and you can find out more details about eligibility for OAS here.

OAS Payment Dates
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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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20 thoughts on “OAS Payment Dates: 2022 Old Age Security Deposits”

  1. I got a payment today from oas what was this for. I got my regular one on October 27/21. I could of missed news release on it. Would appreciate answer if I could.

  2. Can I have my old age security payments direct deposited into my spouses bank account? I would like to keep my CPP going directly into my bank account but was hoping to deposit the OAS into my spouses bank account?

      • Hi Christopher,

        I arrived in Canada in Mid-June 2001 and applied for OAS to begin in January 2021. I was 65 in mid-June 2018 so according to my calculation I should be entitled to 19/40ths. of the current $615.37 maximum plus an 18% uplift for the 30 months I delayed after I turned 65. However, I was only awarded 17/40ths. with an 18% uplift.

        The explanation was the the 17/40 of the $615.37 plus the 18% uplift is more than 19/40ths. without the 18% uplift and that in some very rare cases the calculation without the uplift would be more.

        Why would they not include the uplift for the full 19 years? They also mentioned something about me not being able to double-dip which I don’t fully understand.

        • Hey Julian, without knowing more details it’s very hard for me to answer this question. I suggest you call the CRA, they will be able to walk you through your own unique situation and give you an exact answer.

  3. hello what happen to the increase on oas;gis;i got 1,53 that is a joke;what happened to increase 729,53 i saw on goverment page;what is going on; mrs evelyn bohan


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