OAS Payments Get Slight Boost as Inflation Rate Holds Steady

Millions of senior Canadians will see an increase in their Old Age Security (OAS) pension this month, thanks to a quarterly benefit boost. The maximum payment amounts for people aged 65 to 74 will rise from $743.05 to $751.97, provided their annual net income is less than $152,062.

The OAS payments are adjusted quarterly based on the Consumer Price Index (CPI) inflation rate. In this case, the increase is 1.2% for the July to September period, which brings the maximum amount up by 8 cents per week. The largest jump since October 2024 was 1.3%. Canada's CPI inflation rate was 2.8% over the 12 months to June 2026.

Those aged 75 and older with net incomes under $157,923 will go from $817.36 to $827.17. The OAS benefit is reassessed quarterly based on changes in living costs. If life in Canada becomes less expensive, legislation ensures that the OAS benefit will not decrease.