Starting in February 2026, millions of older Canadians will get bigger Old Age Security payments. The government regularly adjusts OAS benefits to keep up with inflation and changes in the cost of living. This is just one of those adjustments. Even small increases can make a big difference for retirees who live on fixed incomes, especially since the costs of food, housing, utilities, and healthcare keep going up.
This is a full explanation of what the February 2026 increase means for you or a family member who gets Old Age Security. It includes who is eligible, how much the payments may go up, and when the money will arrive. Seniors can plan their finances with confidence if they know how payments work.
What is Old Age Security?
OAS, or Old Age Security, is a monthly pension for seniors 65 and older who qualify. Along with the Canada Pension Plan and private savings, it is one of the main parts of Canada’s retirement income system.
OAS is not based on contributions from workers like CPP is. It is paid for by general tax revenues and goes to seniors who meet certain age and residency requirements. OAS is very important for helping low- and middle-income retirees because it is not based on their work history.
How much a senior gets depends on:
- Years of living in Canada after turning 18
- Level of income
- more supplements eligibility
Why OAS Payments Will Go Up in February 2026
Every three months, OAS payments are looked at and changed to keep up with inflation. The government looks at the Consumer Price Index to see if benefit amounts need to go up. OAS rates go up when the cost of living goes up so that seniors can keep their buying power strong.
By February 2026, inflation trends from late 2025 are likely to cause payments to go up. The final numbers will depend on official calculations closer to the date, but seniors can expect a big rise from the amounts in 2025.
This rise is not a one-time gift payment. It will be added to the regular monthly OAS payment from now on.
Payment is on the way, and it will be part of the regular benefit cycle.
Who Will Get the Higher OAS Payment
People 65 and Older
Starting in February 2026, everyone who already qualifies for Old Age Security and is getting payments will automatically get the new rate.
You don’t need to fill out a separate application for the increase.
People 75 and Older
Seniors aged 75 and older have been getting higher base OAS payments than seniors aged 65 to 74 in the last few years. The increase based on age is still in effect and will go up again with the inflation update in February 2026.
So, older seniors may get a bigger monthly boost than younger OAS recipients.
Low-Income Seniors Who Get GIS
If a senior gets the Guaranteed Income Supplement (GIS), any increase in their Old Age Security (OAS) may have a small effect on GIS calculations. But adjustments based on inflation are usually set up to stop total benefits from going down by accident.
How Much More Will OAS Payments Be
Exact numbers will be available shortly before February 2026, but this is how increases usually work.
The Consumer Price Index affects how much OAS is paid. For instance, if inflation over the last period was 3 percent, OAS payments would go up by about that much.
To get a better idea of what this means in real life, think about this:
If a senior currently gets about $700 a month and the rise is 3%, the new payment could go up by about $21 a month. That adds up to more than $250 in extra income over the course of a year.
For seniors 75 and older, whose base payments are higher, the dollar increase would also be bigger.
This may not seem like a big deal, but making small changes over time helps seniors keep their buying power.
The payment is coming, and it shows that the government is trying to keep retirement income in line with rising costs.
When Will the Payments Go Up
The February 2026 payment cycle will include the higher OAS amount. Usually, OAS payments are sent out at the end of each month.
This means that seniors should see the bigger amount in their February 2026 deposit.
If you get direct deposit, the new amount will automatically show up in your bank account. Seniors who get checks in the mail will see the new amount on their February payment.
Recipients don’t need to do anything else.
Mark Carney says that the $1,533 CPP payment will be directly deposited in February 2026.
How to figure out OAS
Knowing how OAS is figured out helps explain why some seniors get more money than others.
Complete OAS Pension
To get the full OAS pension, a person must have lived in Canada for at least 40 years after they turned 18.
Part of the OAS Pension
A person may still be able to get a partial pension even if they have only lived in Canada for less than 40 years. The amount is figured out based on how long the person has lived there.
For instance, a person who has lived in Canada for 20 years would get about half of the full OAS rate.
Tax on Income Recovery
The OAS recovery tax, also known as the clawback, may apply to seniors with high incomes. If a senior’s net income is higher than a certain amount each year, they may have to pay back some or all of their OAS benefit through taxes.
The recovery tax is still in place after the February 2026 increase, but thresholds are usually adjusted for inflation as well.
Effects on Seniors with Low Incomes
Even small increases in OAS can be a big help for seniors with low incomes. Fixed incomes are under pressure because grocery prices, energy costs, and housing costs are all going up.
The February 2026 OAS adjustment, along with the Guaranteed Income Supplement, could help ease some of that burden.
Payment is on the way, and for many seniors, it will help pay for basic needs like
- Food
- Medications that require a prescription
- Bills for utilities
- Getting around
- The costs of running a home
What Older People Should Do Now
There is no need to do anything to get the rise, but seniors can take a few smart steps to make sure their payments go smoothly.
Check the details of your direct deposit
To avoid delays, make sure your bank information is up to date.
Pay Your Taxes On Time
Even seniors who don’t make much money should file their taxes every year. Accurate tax information is needed for benefit calculations, such as GIS eligibility.
Check your CRA and Service Canada accounts
Online accounts give you the most up-to-date information about benefits and payment schedules. Checking your account makes sure you know about any changes.
OAS vs. CPP
Keep in mind that Old Age Security and the Canada Pension Plan are not the same thing.
People pay into the CPP throughout their working lives. OAS, on the other hand, is mostly based on where you live and how old you are.
A lot of older people get both OAS and CPP. The rise in February 2026 is only for OAS. Benefits from the CPP are changed on their own and may go up from time to time because of inflation.
How Inflation Affects Your Income After You Retire
Inflation makes it harder to buy things. When prices go up but income stays the same, seniors lose money. That’s why programs like OAS that are based on inflation are so important.
Quarterly changes help make sure that retirement income stays in line with changes in the economy. Even though the increases may not seem like much, they stop the value of income from going down over time.
This built-in protection mechanism is what the change in February 2026 shows.
Payment is coming, and it’s not just a one-time bonus; it’s part of a planned response to inflation.
No more guessing about CPP: Looking at monthly benefits at ages 60, 65, and 70
Questions that are asked a lot
No, you don’t need to apply for the rise. The increase will happen automatically if you already get OAS.
Will the Increase Be Taxable?
OAS payments are taxable income. The larger amount will be added to your annual taxable income.
Will GIS go up too?
GIS is changed from time to time, and it may go up depending on trends in income and inflation. Any changes will happen automatically.
What if I reach 65 in 2026?
If you turn 65 in early 2026 and apply for OAS, your starting rate will be based on the current level of benefits, including any changes made in February.
What to Expect
OAS will still be a big part of retirement planning because Canada’s population is getting older. For seniors who rely on government pensions as their main source of income, periodic increases help keep their finances stable.
The February 2026 change is not a one-time payment, but it is an important change to the cost of living. For a lot of families, even small increases give them some breathing room in their monthly budgets.
Payment is coming, and seniors can expect their February deposit to automatically show the new, higher rate.
