Old Age Security Benefits increase July 1

Settlement ISC Finance, updates

The Government of Canada has announced that the Old Age Security Benefit (OAS) has been increased as of July 1st 2018. According to its news release “a single senior receiving OAS and the Guaranteed Income Supplement (GIS) with no other income may receive $1,728.84 more than in November 2015”.  The OAS program is the Government of Canada’s largest pension program. It is a monthly payment available to seniors aged 65 and older who meet the Canadian legal status and residence requirements.