There are rumors about a one-time relief payment of $2,350 for seniors in Canada, but no government program has been announced so far that will pay a lump sum of this amount. Apart from OAS, CPP, and Guaranteed Income Support (GIS), there are three other benefits available through the Canada Revenue Agency (CRA). These benefits provide financial stability to seniors. Details about February 2025, eligibility criteria, and payment schedules are given on the following page.
While there is no relief payment of $2,350 being provided to seniors in February, OAS, CPP, and GIS will continue to be paid regularly. In addition, the Working Canadian Rebate of $250 will be paid until early 2025. Apply for all eligible benefits to increase income in retirement, stay up to date for new information, and be vigilant for fraud.
CRA Income Payments – February 2025
1. Old Age Security (OAS) – February 26, 2025
This program offers a monthly pension to all citizens who are 65 years of age and older. However, the eligibility for OAS is not based on a person’s work history but on age and residence.
Eligibility:
One must have lived in Canada for at least 10 years after turning 18.
Maximum OAS payment as of January 2025
65-74 years: approximately $707.68 per month
Aged 75 years and above: around $778.45 per month
This payment will be sent by the last working day of the month, which for this payment cycle is February 26, 2025.
2. Canada Pension Plan (CPP) – February 26, 2025
CPP is a defined pension plan. The amount a person receives will depend on his or her lifetime earnings. Any worker who contributed to the CPP will receive CPP upon retirement.
– Early Retirement: A person can retire as early as 60, but at a reduced rate.
– Full Retirement: Retirement is at 65 years old.
– Delayed Benefits: You can retire as late as age 70 and receive up to 42% more in benefits.
Average CPP Payment at Age 65 (2025):
– Average payment: about $758.32
– Maximum payment: about $1,364.60
If you haven’t applied yet, you can apply through My Service Canada Account.
3. Guaranteed Income Support (GIS) – February 26, 2025
GIS is additional money that seniors receiving OAS receive. It is available to low-income recipients of OAS, and is completely tax-free.
Eligibility: Individuals receiving OAS and below a set income level.
GIS Maximum Benefit Amount for 2025 (Estimate)
– OAS recipients: About $1,057.01 per month
– Couples: About $636.26 per month each
NEW IN 2025:Working Canadian Rebate ($250 tax-free payment)
The Government of Canada has announced a tax-free $250 rebate for working Canadians with incomes up to $150,000 in 2023.
– If you are eligible, it will be paid automatically in March or April 2025.
– No application required.
How to avoid fraud and protect yourself
Fraudsters are deceiving seniors about fake CRA payments. Take the following steps to protect yourself:
– Only trust information you see on official CRA sources; do not trust social media.
– Never give out your personal information via phone or email unless you initiated the contact.
– Log into CRA My Account to confirm that the payment is legitimate.
– If you are unsure, contact the CRA at 1-800-959-8281.
FAQs
Q.Is there a $2,350 payment in February 2025 to seniors?
A.There is no one-time payment of $2,350 coming from the CRA. Seniors will receive their ordinary monthly OAS, CPP and GIAB payouts.
Q.Do I get OAS and CPP in February 2025?
A.You will receive your OAS and CPP payments on February 26, 2025.
Q.How do I apply for OAS, CPP or GIS?
A.You can apply online using your My Service Canada Account, or you can complete the application form and send it to us by mai
Q.What if my payment hasn’t arrived?
A.If you still don’t see your payment, contact Service Canada at 1-800-277-9914.