Old Age Security payments for March are hitting bank accounts and mailboxes soon
Maximum payments are over $700! 👀
Canadian money.
March payments for Old Age Security (OAS) are almost here.
You could get more than $700 deposited in your bank account or mailed to you via cheque soon.
OAS pension is a monthly government payment for Canadian citizens and residents of a certain age.
It's administered by Service Canada.
Here's what you need to know about OAS this month, including the March payment date and how much money you could get.
Who is eligible for Old Age Security?
You must be 65 years or older to be eligible to receive the OAS pension.
If you live in Canada, you must:
- be a Canadian citizen or a legal resident at the time your OAS pension application is approved
- have resided in Canada for at least 10 years since the age of 18
If you live outside Canada, you must:
- have been a Canadian citizen or a legal resident of Canada on the day before you left Canada
- have resided in Canada for at least 20 years since the age of 18
You can receive OAS if you have never worked or are still working. Employment status doesn't affect your eligibility, but your income does.
If Service Canada has your eligibility information, you'll get an enrollment letter around your 64th birthday. That means you're automatically enrolled and don't need to apply.
How much money can you get from Old Age Security payments?
The amount of your OAS pension depends on various factors, including your age, income and residence in Canada.
For March 2026, the maximum OAS payment is $742.31 if you're 65 to 74 years old and $816.54 if you're 75 or older.
Your annual net world income in 2024 must have been less than $148,451 if you're 65 to 74 years old or less than $154,196 if you're 75 and over to receive up to the maximum payment amount.
When is the next Old Age Security payment date?
The next OAS payment date is Friday, March 27, 2026.
How do you receive Old Age Security payments?
You can receive your OAS payment by direct deposit or by cheque.
If you choose to receive it through direct deposit, the payment will be put into your bank account. You can sign up for direct deposit any time and get money directly to your bank account in Canada, the U.S. or other participating countries.
If you don't choose direct deposit as your payment method, a cheque will be mailed to you during the last three business days of each month.
This article's cover image was used for illustrative purposes only.