In 2025, millions of Canadian seniors are set to receive a $742 extra payment as part of their Old Age Security (OAS) benefits.
The Canada Revenue Agency (CRA) and Service Canada have confirmed that this one-time payment will provide additional financial support to help older adults manage rising living expenses.
What Is the OAS $742 Extra Payment?
The $742 extra payment is a non-taxable, one-time financial boost provided to eligible Old Age Security pensioners.
This initiative aims to supplement the income of seniors who are facing increased costs due to inflation and other economic challenges. It is not part of the regular Old Age Security monthly pension but will be delivered in addition to it.
Eligibility for the $742 OAS Extra Payment
To qualify for the $742 Old Age Security boost in 2025, seniors must meet the following requirements:
- Be 65 years or older
- Be a Canadian citizen or legal resident
- Have lived in Canada for at least 10 years after turning 18
- Be currently receiving OAS payments
- Meet the income eligibility criteria as determined by CRA
There is no need to apply separately for this one-time payment. If you are eligible, the CRA will automatically issue the payment to you.
OAS Payment Details and Schedule
The extra payment is expected to be issued on April 28, 2025, using the same method as your current Old Age Security benefit (either direct deposit or mailed cheque).
Here’s a look at the current monthly OAS amounts for 2025:
| Age Group | Monthly OAS Payment (Max) |
|---|---|
| 65 to 74 years | $727.67 |
| 75 years and older | $800.44 |
This $742 extra support is in addition to the regular monthly OAS pension and will not impact your eligibility for other senior benefits such as the Guaranteed Income Supplement (GIS).
How to Check Your Payment Status
Seniors can monitor their Old Age Security payment status using the My Service Canada Account. It allows you to:
- View upcoming payment dates
- See recent payment history
- Confirm eligibility status
- Update your banking information or mailing address
It is recommended to keep your account information updated to avoid delays in receiving the extra payment.
Why This Extra Payment Matters
With inflation continuing to affect the cost of food, housing, utilities, and healthcare, many seniors are feeling financial pressure. This $742 top-up is designed to provide timely relief and help older Canadians manage their basic expenses without added stress.
The government recognizes the unique financial needs of seniors and continues to adjust programs like OAS and GIS to reflect the realities of modern retirement living.
The OAS $742 extra payment in 2025 is a welcome relief for many Canadian seniors who rely on their pensions to cover day-to-day living costs. This one-time support reflects a commitment to ensuring financial security in retirement, especially during times of economic strain.
If you’re receiving Old Age Security, check your payment method and details to make sure you’re ready for this additional income boost.
FAQs
Will the $742 payment affect my GIS or other benefits?
No. The $742 OAS extra payment is non-taxable and does not impact your GIS or other senior benefits.
Do I need to apply to receive this extra OAS payment?
No. If you are eligible and already receiving OAS, the payment will be made automatically.
What if I don’t receive the payment by April 28, 2025?
If you haven’t received your payment within 5–10 business days after the delivery date, you should contact Service Canada for assistance.