The government of Canada has successfully made various changes to the $956 OAS Pension Payment 2024. These changes are mandatory to keep pace with the cost of living and minimize the impact of inflation on low income individuals. The government of Canada has definitely increased the amount of payment under the OAS. This increase is based upon the 3.4% rise in cost of living which affects the economical conditions of the country. For more accurate results kindly visit the official website of the CRA at – www.canada.ca. The aim behind increasing the amount of OAS payments for 2024 is to provide sufficient funds to the elderly people of Canada so that they can easily plan their monthly expenses. The amount of increase is not yet specific but there is a significant increase in the amount of payments offered under the OAS by the CRA. This payment is given to the elderly people of Canada who have already crossed the age of 60 and qualify according to $956 OAS Pension Payment Eligibility 2024. Another important condition is that the applicant should have been a resident of Canada for a minimum ten years.
$956 OAS Pension Payment 2024
People who have lived in Canada for a minimum 20 years with legal citizenship are given the most of it once they are 75 and above without any reductions. If you are curious to receive these $956 OAS Pension Payment 2024 then you need to be aware of all the terms and conditions mentioned in the eligibility criteria. These payments are given to people who are 65 and above of age. You need to be a resident of Canada for a minimum of twenty years. If you live abroad and work under the government of Canada, you need to get back to Canada within 6 months of your retirement. The average amount of payments offered under the OAS 2024 for people who are 65 and above is $718.33 and if you are over the age of 75 you may get somewhere around $790.16. The annual income of the candidates need to be between $147,609 to $148,609.
$956 Old Age Security Payment 2024
| Program | $956 Old Age Security Payment 2024 |
| Government | Canada |
| Authorities | CRA |
| Name of the program | Old Age Security 2024 |
| Year | 2024 |
| Eligibility criteria | 60/65 years and above, Legal Residents |
| Aim | Financial aid for senior citizens |
| Payment Dates | July 2024 |
| Frequency of payment | Monthly |
| Payment Dates | July 2024 |
| Category | Finance |
| Official website | www.canada.ca. |
$956 OAS Pension Payment Eligibility 2024
The eligibility criteria for the $956 is somewhat similar to that of the CPP 2024. The $956 OAS Pension Payment Eligibility 2024 is related to the age, annual income and various other factors as discussed below.
- The age of the candidate must be 65 years and above.
- Citizen of Canada and permanent resident.
- The annual income of the candidate should lie between $147,609 to $148,609.
- Should have lived in Canada for Minimum 10 years and must have a MSCA, SIN along with documents related to birth and income proof.
Old Age Security Pension Amount 2024
The average amount of payment is received by individuals who are over the age of 65 and most of it goes to people who are over the age of 75.
| Eligible Candidates | Old Age Security Pension Amount 2024 |
| 65 to 74 years old | $718.33 |
| 75 and above of age | $790.16 |
$956 OAS Payment Dates 2024
The OAS payments are distributed monthly to all its beneficiaries by the end of each month. The OAS payments for 2024 are released by the last week within the last 3 business days of every month. The payment dates for OAS 2024 are as follows
| Month | $956 OAS Payment Dates 2024 |
| July 2024 | 29 July 2024 |
| August 2024 | 28 August 2024 |
| September 2024 | 29 September 2024 |
$956 OAS Pension Payment 2024 : Fact Check
The amount of payment mentioned with this article is nor specific because it is not mentioned on official website. As no available data says that $956 is the exact amount of payment under the OAS 2024. This particular amount might not be true or maybe be a collective reference of the total payment received by the candidates. Hence, do not rely on this particular number. The writer has conducted deep research and checked the official handle of the CRA, only then have we mentioned the amount and dates of payments offered by the CRA. Still take note that these amounts and payment dates might differ in future as the CRA makes monthly adjustments to these payments. Therefore, only take information and reference from the official handle of the CRA.
FAQs On $956 OAS Pension Payment 2024
The amount of payments lie somewhere between $718.33 and $790.16.
This plan is structured and maintained by the Canada Revenue Agency.
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