Old Age Security maximums rise in October 2026—here’s the adjusted payment schedule and limits

The Story

A change scheduled for October 2026 will increase the maximum monthly Old Age Security (OAS) amount under the program’s regular quarterly adjustments. The increase is set to take effect as OAS maximums are reviewed every quarter, including adjustments based on changes in the Consumer Price Index.

OAS is a pension paid out to Canadians who are 65 years old or older, and it is taxable income. The program does not automatically deduct taxes from payments, but recipients can request that income tax be deducted from their monthly OAS benefit.

To qualify, a person must be a Canadian citizen or resident at the time their application is approved and must have lived in Canada for at least 10 years since turning 18. The program also allows eligibility for people living outside Canada if they were a citizen or legal resident on the day before leaving and lived in Canada for at least 20 years since turning 18.

The amount received depends on the applicant’s age, the number of years lived in Canada after turning 18, and their income. The payment structure also includes a higher, permanently increased OAS pension for seniors aged 75 and older, which began in 2022 with a 10 per cent increase for that age group.

There is also mention of retroactive payment potential: if someone is already over 65 when they apply, they could receive a retroactive payment for up to a maximum of 11 months. The exact amount can vary based on how the individual’s eligibility and pension parameters are calculated.

For the current quarterly period prior to the October adjustment, the maximum monthly OAS payments from July to September were $751.97 for Canadians aged 65 to 74. For those 75 and older, the maximum monthly payment for the same period was $827.17.

The next quarterly adjustment starts in October 2026, and the maximum monthly OAS benefit is set to increase by 1.4 per cent. Under the updated maximums described for the October quarter, Canadians aged 65 to 74 would see the maximum monthly payment rise to $762.50, an increase of $10.53.

For Canadians aged 75 and older, the maximum monthly payment is set to increase to $838.75 in October 2026, which is an increase of $11.58. The reported figures are maximum amounts, and actual payments can be lower depending on eligibility length and other factors tied to the OAS calculation.

OAS maximum amounts are reviewed in January, April, and October and adjusted to help keep pace with the cost of living based on CPI changes. In terms of the payment timing for the updated quarter, the first adjusted payment described for this period is scheduled to be paid out on Oct. 28.

For seniors and near-retirees monitoring their benefits, the practical takeaway is to be aware of both the date of the first adjusted payment in late October and the fact that the October figures represent maximums rather than guaranteed amounts for every recipient. Checking the amount you receive against your age band and eligibility basis can clarify whether you are receiving the maximum.