A major announcement has created buzz among Canadian seniors: the Canada Revenue Agency (CRA) is set to provide an extra $742 Old Age Security (OAS) payment in 2025.
This one-time financial boost is designed to help retirees manage rising living costs, particularly as inflation continues to impact essentials such as food, housing, and healthcare.
Beginning in September 2025, eligible OAS recipients are expected to see this extra payment deposited directly into their accounts. Let’s break down what this means, who qualifies, when the payments are scheduled, and how seniors can ensure they don’t miss out.
What Is the $742 OAS Extra Payment?
The $742 extra OAS payment is a non-taxable, one-time top-up for seniors already receiving OAS benefits. It is separate from the regular OAS monthly pension, which continues as usual.
This additional support is meant to:
- Provide relief from rising inflation.
- Ensure seniors can afford everyday needs like groceries and utility bills.
- Supplement fixed incomes for those who rely heavily on OAS.
OAS Extra Payment 2025
| About | Details |
|---|---|
| Program | Old Age Security (OAS) |
| Extra Payment | $742 (one-time, non-taxable) |
| Government | Canadian Government |
| Managed By | CRA |
| Eligibility | Seniors aged 65+ meeting OAS residency requirements |
| Delivery Date | September 25, 2025 (with regular OAS deposit) |
| Category | Canadian Finance |
Who Qualifies for the $742 OAS Payment?
Eligibility follows the general rules for OAS with additional conditions:
- Age Requirement: Must be 65 years or older by December 31, 2025.
- Residency: Must be a Canadian citizen or permanent resident at the time of approval.
- Residency History:
- Canadians must have lived in Canada for at least 10 years after age 18.
- Non-Canadian citizens must have lived in Canada for at least 20 years after age 18.
- Current OAS Recipients: If you already receive OAS, you will automatically qualify for the extra $742 payment.
OAS Payment Dates 2025
The CRA has released the official OAS payment schedule for 2025. The extra $742 will be added to the September 25, 2025 payment. Below is the full year’s schedule:
| Month | OAS Payment Date 2025 |
|---|---|
| January | 29th |
| February | 26th |
| March | 27th |
| April | 28th |
| May | 29th |
| June | 26th |
| July | 29th |
| August | 28th |
| September | 25th (+$742 extra) |
| October | 29th |
| November | 27th |
| December | 20th |
How to Claim the $742 OAS Extra Payment
For most seniors, no action is required. If you are already receiving OAS, the extra $742 will be deposited automatically. However, new applicants or those who haven’t applied should follow these steps:
- Visit the CRA OAS Portal online.
- Log in using your CRA credentials.
- Select the OAS Application section.
- Fill in personal details and confirm age and residency.
- Upload required documents such as proof of citizenship or residency.
- Submit and wait for CRA approval.
Once approved, the extra payment will be added to your September 2025 deposit.
Why Is This Extra Payment Being Offered?
The extra $742 OAS benefit is being introduced to counteract the effects of:
- Rising inflation rates that have made it difficult for seniors to cover necessities.
- Higher healthcare costs, especially prescription drugs and long-term care.
- Increased housing expenses, with more seniors spending a large share of their income on rent or mortgages.
By issuing this one-time boost, the government aims to ease financial stress for retirees and ensure stability during a period of economic uncertainty.
Benefits of the $742 OAS Top-Up
This payment will:
- Provide immediate financial relief for seniors.
- Help cover essential costs like groceries, electricity, and medication.
- Offer reassurance to older Canadians who depend on fixed incomes.
- Not impact other benefits, as it is a non-taxable payment and won’t reduce GIS or provincial benefits.
Fact Check: Is the $742 OAS Payment Guaranteed?
While the government has signaled its intention to provide this one-time benefit, some discussions still describe it as part of a planned relief measure. However, it is included in the 2025 OAS payment schedule, with September marked as the delivery date.
Seniors should monitor CRA announcements for final confirmation, but most indications show it will proceed as planned.
Key Takeaways for Seniors
- The $742 OAS extra payment is expected in September 2025.
- It is non-taxable and does not affect GIS or other benefits.
- Current OAS recipients will receive it automatically.
- Eligibility rules follow the standard OAS criteria (age 65+, residency requirements).
- The extra payment is part of broader financial relief for seniors coping with rising costs.
The CRA’s confirmation of a $742 extra OAS payment in 2025 is welcome news for Canadian seniors. With inflation and living costs climbing, this one-time boost provides much-needed relief to help cover essentials.
Payments are scheduled for September 25, 2025, and will be made automatically to those already receiving OAS.
For seniors, this payment is more than just a number — it represents security, stability, and recognition of their contributions to Canada. By staying informed and ensuring eligibility, retirees can take full advantage of this support when it arrives.
FAQs
When will the $742 OAS extra payment be delivered?
The payment will be issued with the September 25, 2025 OAS deposit.
Do I need to apply for the $742 extra OAS payment?
No. If you already receive OAS, the payment will be automatic. New applicants need to ensure their OAS application is approved before September 2025.
Will the $742 OAS payment affect my GIS or provincial benefits?
No. The $742 extra payment is non-taxable and will not reduce or interfere with other benefits.