Yes, seniors in Canada receive money from the government through several programs designed to provide income security, primarily starting at age 65. Key benefits include the taxable Old Age Security (OAS) pension, the Guaranteed Income Supplement (GIS) for low-income seniors, and the Canada Pension Plan (CPP).
Cost of Living Adjustment (COLA)
Monthly CPP in 2024: $1,000. 2025 increase (2.6%): +$26. New monthly payment: $1,026.
The Old Age Security (OAS) program is the Government of Canada's largest pension program. The OAS pension is a monthly payment for eligible seniors. You may need to apply to receive it.
The $1,200 payment is a one-time direct deposit issued by the Canada Revenue Agency for seniors classified as low income based on their most recent tax return. The payment is not a loan, does not need to be repaid and does not replace existing monthly benefits.
you are 65 or older. you are a Canadian citizen or a legal resident. you live in Canada. your income is below the maximum annual income threshold for the GIS based on your marital status.
The $200 taxpayer rebate will be issued for each child under age 18 in Ontario whose family received the Canada Child Benefit (CCB) for 2024. The cheques now being sent to Ontario families by mail are expected to land in mailboxes by late January or early February.
Not only will the government be issuing a one-time cash payment of $500 to be paid in August 2021, this year's Federal Budget also includes the highest quarterly adjustment to existing OAS payments since July 2014.
Who Will Receive the $1,100 Centrelink Bonus. The bonus will be automatically issued to eligible Australians receiving approved Centrelink payments. Those expected to qualify include: Age Pension recipients.
Canadian seniors are set to receive a significant financial boost in early 2026, with reports confirming a new $1,500 Canada Pension Plan (CPP) payment scheduled for direct deposit on January 15, 2026.
The new tax deduction for seniors 65 and older allows you to reduce your taxable income by up to $6,000. Taking the new senior deduction can mean less tax or potentially an even bigger tax refund when you file your return.
The maximum monthly CPP payment you can receive at age 65 has increased from $1,433 to $1,507.65 starting January 2026.
The $2,200 payment is a one-time, tax-free financial benefit provided by the federal government through the CRA. Unlike monthly pension programs, this payment is not ongoing but instead offers immediate relief to help seniors weather current financial pressures.
For information about the OAS program, visit canada.ca/OAS or call Service Canada at 1-800-277-9914. - Apply online at any time for available Canada Pension Plan (CPP) and Old Age Security (OAS) benefits and services. - Access accurate and up-to-date information about your CPP and/or OAS benefit entitlement.
Universal Credit standard allowances will receive an additional uplift of 2.3% as specified in the Universal Credit Act 2025. The basic and new State Pensions will be uprated by 4.8% from April 2026, in line with the annual increase in the Average Weekly Earnings (AWE) index for May–July 2025.
Getting the State Pension qualifies you for the Christmas Bonus. Pensioners can still receive the £10 payment if they also get another qualifying benefit such as Pension Credit, Attendance Allowance, or a disability benefit. If you receive more than one qualifying benefit, you still only receive one bonus.
The Minister for Social Protection, Dara Calleary, has announced the details for the Christmas Bonus, which will be paid to approximately 1.5 million people this week including pensioners, carers and people with disabilities.
Old Age Security Payment Updates
Old Age Security provides monthly support to Canadians aged 65 and older, regardless of work history, as long as residency requirements are met. For December 2025, OAS payments reflect a 1.2% quarterly indexation increase tied to the Consumer Price Index.
President Donald Trump's "big beautiful" tax law provides a new senior "bonus" or deduction of up to $6,000 per individual or $12,000 for married couples. The temporary deduction applies to taxpayers ages 65 and over whose income is within certain thresholds.
Today, Canada's Minister of Seniors, Deb Schulte, announced the highest quarterly adjustment to existing OAS payments since July 2014. She also confirmed that the Government of Canada will deliver the $500 one-time payment to older seniors, announced in Budget 2021, during the week of August 16, 2021.
Who Qualifies for the $250 Cheques. Along with the GST break, the government of Canada is also planning on offering cheques in the amount of $250 to qualifying middle-class families. In order to qualify for this, you have to have worked in 2023 and had an income below $150,000.
This $200 taxpayer rebate is being sent to all eligible adults in Ontario who filed their 2023 Income Tax and Benefit Return by December 31, 2024. Eligible families will receive an additional $200 for each child under 18 if they have already applied for the Canada Child Benefit ( CCB ).
Who is eligible for this tax credit? To be eligible for the $7,500 Multigenerational Home Renovation Tax Credit in Canada, you usually need to meet the following criteria: You must be a homeowner in Canada. The resident of the renovated unit must be a family member who is a senior or an adult with a disability.