$1,400 EXTRA OAS payment is an added measure by the Canadian government to provide more support financially to seniors. At a time when inflation is rising, the people over the age of 65 for many start feeling the cost of living comfortably getting more expensive. This is not the last payment that the government can make; it would be transmitted over a given number of months, with the first installment in August 2024.
The OAS is a pension program that offers ways of income support to Canadians who have reached at least 65 years of age. It is said to form a vast part of the country’s security system which is supposedly necessary to have senior citizens receive and maintain a minimum retirement income. The benefit you will be liable to receive, however, may change with the income and the period of your stay in Canada once you reach 18 years of age.
What Is the $1400 Extra OAS?
The top-up of $1,400 OAS for seniors was introduced by the Canadian government in the month of August 2024. The additional support will be granted to the seniors in Canada to help them cope with the increased cost of living. If you are a Canadian senior, then you must be wondering who actually is eligible for this extra OAS and when shall it be paid out.
$1400 Extra OAS Eligibility Requirements
These are the eligibility criteria to get the additional top-up of $1,400 OAS:
1. Age Eligibility: Age of 65 years at the very least. This payment is extended to all seniors who fit this age criterion, given that they are also eligible to receive a regular OAS.
2. Period of Residency: You must have resided in Canada for a minimum of ten years after reaching 18 years to be eligible for the maximum benefit of OAS, which also includes the additional amount.
3. Threshold of Income: Although the OAS is broadly available to every qualifying senior, the received amount may be liable to your income. If your income rests above the fixed threshold of income, then the OAS will take away the extra payment of $1,400.
4. Apply: In case you are already on Old Age Security, you need not apply further to avail of $1,400 extra. But if you haven’t applied for Old Age Security until now or if you just turned 65 years of age then you have to apply at the official website of Service Canada.
EXTRA OAS 1400$ Payment Schedule
That $1,400 in extra OAS is slated to go out in 2024. The payments will very likely coincide with the regular frequency of OAS paymentsโmeaning the first will be at the end of August 2024. Subsequent ones would then be monthly, which generally coincides with regular dates for OAS disbursement, which falls on the third last business day of each month.
How to Apply For $1400 EXTRA OAS PAYMENT
For those seniors not currently receiving OAS or who haven’t applied for it yet, it is relatively easy to apply:
-Online: Applications can be made online through the My Service Canada Account (MSCA). From this portal, you can complete and submit forms, upload documents, and check the status of your application.
-Required Documentation: Make sure to have all in place given that you will have proof of age and proof of being a resident at the time of application. These will be verified, if offered, to have you eligible for other payments, not excluding the OAS.
-Automatic Enrollment: If you are on OAS, there’s nothing more for you to do to receive the extra $1,400. The amount would reflect automatically in your OAS disbursement on a monthly basis beginning on the effective date.
$1400 Extra OAS Payment Dates 2024
According to various websites , the expected dates are as follow:
| Month | $1400 Extra OAS Payment Dates 2024 |
| Jan | 29th,2024 |
| Feb | 27th,2024 |
| Mar | 26th,2024 |
| Apr | 26th,2024 |
| May | 29th,2024 |
| Jun | 26th,2024 |
| Jul | 29th,2024 |
| Aug | 28th,2024 |
| Sep | 25th,2024 |
| Oct | 29th,2024 |
| Nov | 27th,2024 |
| Dec | 20th,2024 |
Implications for Seniors $1400 OAS
An additional $1,400 for OAS is a very huge move to cushion the seniors for expenses. For most, the extra income can come in essentials, such as utilities, groceries, and health expenses, all seeing price increases over recent years.
This would offer low-income seniors, who live heavily dependent on OAS as their primary source of income, a much-needed financial cushion. With inflation stinging on the cost of living, this additional payment will ensure a reasonable standard of living among seniors.
The $1,400 add on OAS payment in 2024, on the other hand, is a very important financial boost to seniors in the country. In this regard, it is critically important that they meet the set out eligibility requirements and are conversant with instances in which they can be paid. This is for the purposes of planning their finances well and also ensuring that they don’t lose out on their rightful dues in the benefits. An amount such as this, added upon the OAS income, is a great relief amidst inflation and increasing living costs.
People also ask:
1. Do I qualify for this additional $1,400 in OAS?
You need to live in Canada, be 65 years old or over, have lived in Canada for at least 10 years after age 18, and currently receive OAS.
2. When will a one-time, $1,400 additional OAS be paid?
The one-time payment could be by August 2024, with the monthly equivalent probably paid according to the regular schedule of OAS payments.
3. Is there an application form for the $1,400 bonus OAS payment?
Individuals who are existing recipients of OAS do not need an application. The monthly OAS package will just include the $1,400 supplement.
4. Is the $1,400 bonus OAS payment income-tested?
If your income is higher than certain thresholds, your OAS benefits will be income-tested, with the effect of reducing the total value of the OAS package.
Https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.html
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