OAS is a pension scheme which is provided by the federal government of Canada and CRA to all the senior citizens of Canada who help the government in developing the economy of the country by providing their services through employment in government or private sector. All those citizens who gave their time and hard work in developing the country the government wants to give this pension as a reward to them so that they can be independent for their basic daily needs and can fulfill all their dreams which they can not complete due to any reason during their working life.
By using this money senior citizens can create a new memory with their near and dear ones by spending some time with them or through holiday. The OAS $900+$500 Payment In June 2024 is going to be paid by the government to all the eligible senior citizens.
OAS $900+$500 Payment In June 2024
In the month of June 2024 the CRA and government of Canada is going to pay an amount of $900+$500 under OAS pension benefits. The government will provide this pension benefit to all those citizens who are 65 years and older and belong to the financially weaker family. The government’s main motive behind launching this pension scheme is to provide financial support to all the Canadian citizens so that they will not depend on anyone for their medical expenses, daily basis needs and other expenses.
To be eligible to get the benefit of OAS Canada has no need to fill any application as CAR will automatically inform the eligible Canadian. At the time of approval of their OAS application the Canadian must be a legal resident or Canadian citizen. The CAT had decided the age of retirement in Canada at 65 years but an individual can take the pension benefits before the age of 65 years but after the age of 60 and they can take the retirement after the age of 65 years but before the age of 70 years.
| Benefit name | OAS $900+$500 Payment In June 2024 |
| Year | 2024 |
| Country | Canada |
| Launched by | CRA and federal Government of Canada |
| Beneficiary | All senior resident of Canada |
| Retirement age | 65 years |
| Early retirement | 60 years |
| Post retirement | 65 years |
| Beneficiary Amount | $900 + $500 |
| OAS $900+$500 Payment Date 2024 | June 2024 |
| Deposited | Into beneficiary bank account |
| Category | Financial Aid |
| Official Website | Canada.ca |
Who Is Eligible To Receive OAS $900+$500 Payment In June 2024?
One should meet the OAS $900+$500 Eligibility 2024 in order to receive the payment. Check your eligibility criteria below:-
(A) if you are a person who are living in the Canada
- Your age should not be below than 65 years
- At the time of approval of your OAS pension application individual must be a legal residents or Canadian citizen
- After the age of 18 years you lives in Canada for at least 10 years
(B) If you are a person who lives outside the Canada
- Individual age should be 65 years and older
- on the day before you left the Canada individual needs to be a legal resident or Canadian citizen
- you lives in Canada for 20 years or more after you turns 18 years older
(C) Canadian working outside Canada for Canadian Employer
All those Canadians who are working in Canada bank, Canada Armed Forces outside Canada for Canadian employers. The Duration in which they worked on board will be counted as residency Canada.
You need to fulfill at least one condition to qualify the duration of work as residence in Canada:
- Individual returned back to the Canada with in 6 months after the ending of employment
- You become 65 years old by maintaining the residence of Canada and still employed during your time of working outside Canada.
It is necessary for the individuals to provide below given documents
- A proof from the employer about the employment
- A proof of returning to the Canada in physical form(unless you become 65 years old working outside the Canada)
How Much Will You Receive?
Income thresholds and maximum payments:
| Age | Maximum monthly payment amount | Annual world net income in 2022 should be |
| 65 years to 74 years | $713.34 | Below than $134,626 |
| 75 years or older | $784.67 | Below than $137,331 |
What Is The OAS Payment Date 2024?
The first payment of OAS will be:
- In the month you become 65 years
- Specific dates chosen by the individual
FAQs on OAS $900+$500 Payment In June 2024
$900+$500 amount will CRA pay under OAS $900+$500 Payment In June 2024.
in the beneficiaries bank account OAS $900+$500 Payment will be credited.
Giorgio Smith, a Texan native, is a seasoned senior editor at tnpscexams.net. He has done Master of Business Administration in Finance. he boasts over 9 years of experience in finance. Giorgio expertise is in finance, insurance, and money-related content.