Personal Finance

OAS Payment Dates For December 2023: Latest Upcoming OAS Payment Dates 2023

The Upcoming OAS payment dates for December 2023. The Upcoming OAS Payment Date for December 2023 is scheduled to come out on December 20, 2023. On these specified dates, qualifying elderly individuals can review their accounts to verify the receipt of payments.

When are the OAS Cheques Deposited in December?

In December 2023, the OAS payment dates typically occur in the final month. Specifically, payments are scheduled for the 20th and 27th of December 2023. Eligible citizens should anticipate finding the corresponding amount deposited into their accounts on these designated dates.

For individuals receiving direct installments, the OAS payment schedule for 2023 typically aligns with the end of each month. The upcoming payment is scheduled for November 28, 2023, and recipients can anticipate receiving their checks via mail around these payment dates.

OAS Payment Dates For December 2023: Latest Upcoming OAS Payment Dates 2023

OAS Payment Dates for 2023

  • January 27, 2023
  • February 24, 2023
  • March 29, 2023
  • April 26, 2023
  • May 29, 2023
  • June 28, 2023
  • July 27, 2023
  • August 29, 2023
  • September 27, 2023
  • October 27, 2023
  • November 28, 2023
  • December 20, 2023

OAS Payments Overview

Old Age Security (OAS) is Canada’s primary pension program, offering taxable monthly benefits to eligible citizens and residents aged 65 and above. Unlike the Canada Pension Plan (CPP) and other employee pension schemes, OAS payments are not contingent on employment history, ensuring eligibility regardless of current employment status.

To be eligible for OAS, individuals must:

  1. Be at least 65 years old.
  2. Be a Canadian citizen or lawful resident at the time of OAS pension approval.
  3. Have resided in Canada for at least ten years since turning eighteen.

For individuals living outside Canada:

  1. Be 65 years or older at the time of departure from Canada.
  2. Be a Canadian citizen or permanent resident.
  3. Have worked for Canadian corporations overseas for at least 20 years after moving to Canada at the age of 18.

How Much is OAS in 2023?

The amount of OAS payment is subject to taxes. As of June 2023, the maximum OAS payment is $691 per month for recipients aged 65 to 74 ($8,292 annually) and $760.10 per month for those aged 75 and beyond ($9,121.20 annually).

OAS benefits vary based on the number of years an individual has lived in Canada after turning 18. If you haven’t lived in Canada for at least 40 years, you may qualify for a partial pension.

In the event that you don’t receive the OAS payment for December 2023, it is advisable to contact the relevant financial institution or department responsible for your credits. Eligible citizens can also choose retroactive payment for up to 12 months if they start payments late, ensuring they remain on the list of eligible candidates by filing taxes regularly.

To check the OAS payment status for December 2023, individuals can follow these steps:

  1. Register on the My Service Canada portal (MSCA).
  2. Select “Application Status” to check notifications of CPP.
  3. Choose “Payment Information” to review OAS payment details.
  4. Verify the OAS payment status.

It’s important to note that job history is irrelevant to OAS eligibility, and if there are any missing details, individuals may need to make a request for clarification.