Canada’s Seniors to Receive Additional $1,400 Monthly OAS: Key Details
Discover the Scoop on the $1,400 Extra OAS for Canadian Seniors! Here’s the Lowdown: Old Age Security pensions are monthly federal benefits provided to Canadian citizens, with payments varying based on age and living conditions.
$1,400 Monthly Extra OAS Coming for Seniors in Canada?
In 2024, the Federal Department of Employment and Social Development is set to provide $1,400 in monthly assistance, addressing the rising cost of living due to inflation. For more details on the extra OAS for seniors in Canada, read on.
Canada’s Federal Government actively addresses social welfare through programs like OAS, offering monthly assistance to those aged 65 and above. In 2024, eligible seniors can expect an additional $1,400 in monthly OAS.
Canada’s Federal Department of Employment and Social Development is set to provide a monthly assistance of 1.4K CAD, addressing the challenges posed by the increasing cost of living and inflation. This decision aims to alleviate the crisis faced by struggling households.
The OAS stands as a vital retirement program in Canada, offering financial support to eligible Canadians once they reach 65. Relying on general tax revenue, millions of seniors benefit from OAS. Starting January 2024, authorities have boosted the pension amount to 68.5K CAD, ensuring OAS beneficiaries receive an additional $1,400 in monthly assistance.