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OAS Payments Are Bigger This July — Here's How Much More You'll Get

  July 21, 2026 If you or someone in your family collects Old Age Security, the deposit landing later this month is larger than the last one. Here's exactly why, and what the new numbers look like. Old Age Security payments went up 1.2% for the July-to-September 2026 quarter — the largest of the four scheduled increases so far this year. Combined with earlier adjustments, that puts OAS 2.3% higher than it was in July 2025. OAS amounts are reviewed every January, April, July, and October to track the Consumer Price Index. When the cost of living rises, the payment rises with it. When it falls, the payment simply holds steady — OAS is protected from ever decreasing. The new maximum monthly amounts Age Group April–June 2026 July–September 2026 Monthly Increase 65 to 74 $743.05 $751.97 +$8.92 75 and older $817.36 $827.17 +$9.81 Seniors 75 and up sit higher because of the permanent 10% top-up the federal government added to that age group's OAS back in July 2022. That bump applies...
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How Canada’s new measures will make banking more fair and affordable in 2024

 

Canada’s government has announced a series of new measures to ensure Canadians are treated fairly by their banks and to make banking more affordable for everyone. These measures, which will take effect in 2024, include:

  • Protecting Canadians from rising mortgage payments by requiring banks to provide tailored mortgage relief to borrowers at risk of default on their principal residence, in accordance with the Financial Consumer Agency of Canada’s (FCAC) new guideline.
  • Enhancing low-cost and no-cost account options by working with financial institutions to improve the features of these accounts, such as providing more debit transactions, online bill payments, and e-transfers with no extra fees, and expanding the eligibility and availability of these accounts to more Canadians.
  • Lowering non-sufficient fund (NSF) fees, which can be as high as $50, by issuing direction to banks to reduce these fees, which disproportionately impact low-income Canadians and those who do not have access to overdraft protection.
  • Designating an independent and transparent not-for-profit organization, the Ombudsman for Banking Services and Investments (OBSI), as the single external complaints body for Canada’s banking sector, to provide Canadians with an impartial advocate when they have complaints with their bank.

These measures are part of the government’s action to bring down inflation and stabilize prices for Canadians, as well as to support the economic recovery from the pandemic. The government also plans to introduce framework legislation in Budget 2024 to enable consumer-driven banking, which will give Canadians more control over their financial data and access to innovative financial services.

The government says that these measures will help ensure that Canada remains the best place in the world to live, work, and raise a family, and that the banking sector serves the needs and interests of all Canadians.

In addition to these measures, Canadians can also benefit from the increase in the Tax-Free Savings Account (TFSA) contribution limit for 2024, which will rise to $7,500, up from $6,000 in 2023. This means that Canadians who were eligible for the TFSA since its inception in 2009 will be able to invest a cumulated total of $95,000 in 2024, tax-free.


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