As per the latest announcement by Mr. Trudeau, Prime Minister of Canada, the eligible Canadians are going to receive Extra $1260 Monthly OAS Payment in June 2024. There are many programs which are offered by the government for the Canadian Senior Citizens. One of them is OAS, which offers citizens a monthly payment which helps them in fulfilling their daily requirements. In order to get the Extra $1260 Monthly OAS Payment, you need to meet some certain requirements. After that you can get your payments directly in your bank accounts. It is suggested to apply for it on time. If you want to know the eligibility and payment dates for the Extra $1260 Monthly OAS Payment June 2024, you can find it on this article.
Extra $1260 Monthly OAS Payment in June 2024
OAS is one of the retirement income sources for the senior citizens. The Federal Government has launched various programs for their country’s senior citizens. For senior citizens there are three programs, Employment Pensions Plan, Canada Pension Plan and Old Age Security (OAS) Pension. Employment Pension Plan and CPP plans depends on your work history and to receive the CPP benefit you need to get retired first. OAS is different from them. If you are already receiving it then there is no need to apply for Extra $1260 Monthly OAS Payment separately.
As OAS is a monthly taxable income which is given to the citizens aged at least 65 years or above. The Canadians can expect an increase from 86,912 CAD to 90,997 CAD under Old Age Security pension. However, according to CRA the maximum pensionable earnings in Canada Pension Plan is from 66,600 CAD to 68,500 CAD. The Extra $1260 Monthly OAS Payment in June 2024 offers a lot of benefits to the citizens. Not like Canada Pension Plan and employee pension plan as OAS is given irrespective of your previous work history.
$1260 Extra OAS Payment 2024- Overview
| Title | Extra $1260 Monthly OAS Payment in June 2024 |
| Name of the Department | Canada Revenue Agency |
| Benefit Name | Old Age Security |
| Country | Canada |
| Beneficiaries | Senior Citizens of Canada |
| Year | 2024 |
| Month | June |
| Amount | $1260 |
| Payment frequency | Monthly |
| Payment Method | Online |
| Category | Financial Aid |
| Official Website | www.canada.ca |
Eligibility Criteria of Extra $1260 Monthly OAS Payment 2024
Below are some mentioned points through which you can refer if you are eligible for the benefit or not. Mostly all of the elderly citizens are going to receive this forthcoming benefit in June. But make sure you qualify all the necessary requirements to receive the benefit.
- Make sure you are aged 65 years or above to receive the benefit as it comes under Old Age Security category.
- The key requirement for this benefit is the citizenship, the applicant has to serve for the country for at least 10 years if they are not the citizen of country.
- If your income is too high, then you might not be eligible for this benefit as your income comes under the Federal government criteria and this program is also taxable.
Payment Dates for $1260 Extra Monthly OAS Payment for 2024
The monthly payments of OAS are defined by the Canadian Government. To know Extra $1260 monthly OAS Payment Dates for 2024 you can refer below:
| Name of Month | Extra $1260 Monthly OAS Payment Dates for 2024 |
| January | 29th Jan 2024 |
| February | 27th Feb 2024 |
| March | 26th Mar 2024 |
| April | 26th Apr 2024 |
| May | 29th May 2024 |
| June | 26th Jun 2024 |
| July | 29th Jul 2024 |
| August | 28th Aug 2024 |
| September | 25th Sept 2024 |
| October | 29th Oct 2024 |
| November | 27th Nov 2024 |
| December | 20th Dec 2024 |
How to claim Extra $1260 Monthly Old Age Security Payment 2024?
Those candidates who are already getting their Old Age Security benefit are not required to apply for this benefit separately. And those who haven’t got any benefit before or are new to get can follow the process below to claim the Extra $1260 Monthly Old Age Security Payment 2024:
- Firstly, visit the official portal of the program i.e. on www.canada.ca, there you can get the online form.
- Then fill all the required information in your application form, after that you need to attach the mandatory documents on it which is like nationality, proof of your age and more.
- Make sure you fill all the details correctly and check it twice before submitting so that there is no need to cancel the application afterwards.
- Now submit your application form & whichever documents are required for further process.
After submitting all of this, the department will verify the registered details thoroughly and if all of them are correct then you will start to receive the Extra $1260 Monthly Old Age Security Payment from the month of June 2024 directly into your bank account. For further questions, you can connect to them on their official website.
Final Words on OAS Payment Dates 2024
The federal government has taken a great step by introducing this program. As it would help the country’s senior citizens in meeting their financial needs. Old Age Pensions are given to the individuals who are aged at least 65 years old or above. Also, in order to receive this benefit, you need to be a country’s permanent civilian. It is a monthly payment which would be given to the eligible candidates through direct deposit.
If you’re eligible for all of the three senior citizen’s program which are employee pension plan, Old Age Security and CPP, you can get all of them together also. These programs help the citizens a lot in meeting their daily requirements. If you have already applied for the Old Age Pension Program, then there is no need to apply for Extra $1260 Monthly OAS Payment program separately. You are already eligible for it. To check your claim status, you can visit the authorized portal for it i.e. www.canada.ca.
She is a final-year student studying Finance and Business Administration at Simon Fraser University. Writing and conducting internet research on finance are her passions.