In Canada, there is a substantial boost of $2490 for seniors. This massive boost will be out soon to all seniors in Canada. Yes, you heard it correctly and accurately. Seniors will get an increase in OAS Payouts in 2024. This increase is not a little boost, this boost is such a bombshell in Canada. All the OAS claimants will get this boost amount in 2024. From the regular payment amount this amount is the triple payment from that. In this post we will look at this $2490 OAS Increase 2024 with its important specifics such as qualification requirements and the payment dates. Also we will look for the facts for this massive increase. We will check the approval and confirmation of this rise.
$2490 OAS Increase 2024
As in Canada the seniors poverty rate is very high. To solve this problem the Canadian Government Agency, CRA makes changes in the payment benefits. This senior poverty results in an increase in OAS payouts in 2024. This massive boost will help the seniors in their regular necessary items. As at the senior age the medical checkup is increased due to the fact that the seniors need more funds but as per their age they can’t work enough to have this much money for their medical needs. That’s why the Canadian Government raises the Old age security payouts in 2024. This boosted amount can maintain their physical and mental health. This shows the Government commitments towards the well being of senior citizens. This large effort will soon be introduced in Canada. As of now we only have proposed details such as eligibility requirements, payment dates for this $2490 OAS Increase 2024. Confirmation and approval is pending. These specifics can be revised as per the need in the economy.
$2490 OAS Increase 2024- Overview
| Title | $2490 OAS Increase 2024 |
| Name of the Payment | Old Age Security |
| Year | 2024 |
| Country | Canada |
| OAS Increase Eligibility 2024 | Seniors or old Canadian Citizens |
| Name of the Agency | Canada Revenue Agency |
| Objective | Financial Aid |
| OAS Increase Payment Dates 2024 | Estimated in August 2024 |
| Confirmation Status | Not yet Approved |
| Frequency of the Payment | Monthly |
| OAS Increase Amount 2024 | $2490 |
| Mode of the Payment | Checks |
| Taxability Status | Taxable |
| Category | Finance |
| Official Web Portal | www.canada.ca |
$2490 OAS Increase Eligibility 2024
One should know the eligibility to know whether they will get the increased benefit or not. So the eligibility requirements are given for OAS so that the needy citizen will only receive the payment as not every elderly citizen has the same position financially. Age, Income residency and time period of seniors living in Canada will determine the qualification requirements for this OAS Increase. Check the conditions below for the $2490 OAS Increase Eligibility 2024 based on these variables of determination:
- 65 Years Old or Older seniors will get this increase for OAS in 2024.
- Citizenship in Canada or legal residency status in Canada must be holded in order to get qualified for the increased payment.
- The senior individual must reside in Canada for 10 Years in order to get this increased payment. This 10 Year period must be determined from the 18 Years age.
- The income qualification provisions are given below as based on the senior individual age:
| Senior Individual Age | Income Qualification Provisions |
| 65 Years till the age 74 Years | $142,609 |
| 75 Years or older | $148,179 |
$2490 OAS Increase Payment Dates 2024
This OAS Increase is still under approval process. The bill for this increased payment is not yet approved. So the payment dates will be only confirmed after the approval. So as of now, we don’t have any $2490 OAS Increase Payment Date 2024. We can check for the regular dates here. Also the Government of Canada may issue the increased sum as per these dates:
| Month for the Payment | Day of the Payment | Date of the Payment |
| August | Wednesday | 28th |
| September | Wednesday | 25th |
| October | Tuesday | 29th |
| November | Wednesday | 27th |
| December | Friday | 20th |
OAS Increase Amount 2024
OAS Increase Amount 2024 is $2490 as per various reports and news sources but as per our research this amount can be revised and this payment may be untrue as this has no official notification. This massive raised amount is tripled sum from the OAS monthly payment. Here we have the OAS monthly Payment amounts as per the age and the income of senior individual:
| Senior Individual Age | Income Qualification Provisions | OAS Sum |
| 65 Years till the age 74 Years | $142,609 | $718.33 |
| 75 Years or older | $148,179 | $790.16 |
$2490 OAS Increase 2024- Fact Check
$2490 OAS Increase 2024 is untrue and not approved. This increase or substantial boost is just a proposition or word on the street. There has been no official notification or declaration seen. The Canadian Government has not denied this news. So it may also be possible that this massive boost will be seen in upcoming months. But as of now this report is not validated or being entertained. We advise all the residents of Canada to regularly update themselves by reliable news.
FAQ Related To $2490 OAS Increase 2024
No, this payment increase of $2490 is not yet verified.
No, only those who meet income qualification provisions will get qualified.
John Wick is a Media and Finance editor, passionate about writing and editing content related to finance and taxes. He has achieved dual degree in Mass Media and Finance From one of the top universities in the World. He is keen to learn new things and changes which take place in the world of Finance and stocks.