Ottawa, February 22, 2026, Seniors in Canada have a reason to stay informed this February 2026 as the second Old Age Security (OAS) payments of the year will be deposited on February 25. This update continues the quarterly increase introduced in January and offers an opportunity for retirees to understand how OAS works, how it differs from the Canada Pension Plan (CPP), and what factors may affect their payments.
Whether you are a long-term resident, newcomer, or planning retirement, this guide will provide a detailed breakdown of the February OAS payment, eligibility, potential adjustments, and recovery tax implications.
The OAS program provides financial support to Canadian seniors aged 65 and older. Unlike CPP, which adjusts annually, OAS payments are indexed quarterly. For the first quarter of 2026, seniors will see a 0.3% increase in their monthly payments compared to the previous year.
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| Payment Detail | February 2026 |
|---|---|
| Payment Date | February 25, 2026 |
| Rate Period | Q1 2026 (January, March) |
| Quarterly Increase | 0.3% (2.0% year-over-year) |
| Next Rate Review | April 2026 (Q2 rates) |
| Maximum OAS (Age 65-74) | $742.31 per month |
| Maximum OAS (Age 75+) | $816.54 per month |
This steady quarterly adjustment helps seniors plan their monthly budgets with predictability.
Seniors who received OAS in January can expect the February payment to be identical. The amount is based on quarterly indexing, meaning Service Canada sets the rate at the beginning of each quarter and holds it steady for the next three months.
The Q1 2026 increase of 0.3% will remain effective through March. The next adjustment may occur with the April 2026 payment, when Q2 rates are reviewed.
Many seniors receive both OAS and CPP. However, these programs adjust differently, which may explain variations in combined deposits.
| Feature | OAS | CPP |
|---|---|---|
| Adjustment Frequency | Quarterly | Annually |
| Review Months | Jan, Apr, Jul, Oct | January only |
| 2026 Increase | 0.3% (Q1) | 2.0% (full year) |
| Based On | Residence in Canada | Work contributions |
| Can Decrease | No | No |
While CPP payments reflect work history and contributions, OAS is determined by years of residence in Canada after age 18. Both programs are protected against decreases.
The maximum OAS and Guaranteed Income Supplement (GIS) amounts vary by age, income, and residence history. The table below summarizes the maximum amounts for the first quarter of 2026.
| Benefit Type | Maximum Monthly (Q1 2026) |
|---|---|
| OAS Pension (Age 65-74) | $742.31 |
| OAS Pension (Age 75+) | $816.54 |
| GIS (Single, receiving full OAS) | $1,108.74 |
| Allowance | $1,409.72 |
| Allowance for the Survivor | $1,680.47 |
Seniors aged 75 and above receive 10% more in OAS compared to younger seniors, reflecting policy enhancements introduced in 2022.
Not all OAS recipients receive the same monthly deposit. The difference is usually due to additional benefits like GIS, which depend on income.
GIS eligibility depends on income, meaning lower-income seniors qualify for larger supplements.
If the OAS payment does not appear on February 25, there are several steps to ensure it is received correctly:
Seniors can anticipate their OAS deposits for the remainder of 2026. Some months may reflect new quarterly rates based on Consumer Price Index (CPI) adjustments.
| Month | Payment Date | Rate Period |
|---|---|---|
| February | Feb 25 | Q1 |
| March | Mar 27 | Q1 |
| April | Apr 28 | Q2 (new rates) |
| May | May 27 | Q2 |
| June | Jun 26 | Q2 |
| July | Jul 29 | Q3 (new rates + GIS review) |
| August | Aug 27 | Q3 |
| September | Sep 25 | Q3 |
| October | Oct 28 | Q4 (new rates) |
| November | Nov 26 | Q4 |
| December | Dec 22 | Q4 |
The July payment is especially important because GIS amounts are recalculated based on previous year income.
OAS eligibility is based on years of residence in Canada after age 18, not work contributions.
Canada has social security agreements with several countries that allow combining residence or contribution periods. For example, a newcomer arriving at age 45 could qualify for partial OAS after 20 years of residence. Combined with CPP earned through employment, this provides significant retirement income.
Higher-income seniors may face the OAS recovery tax, also called the clawback. In 2026, the thresholds are:
| Age Group | Clawback Starts | Fully Clawed Back |
|---|---|---|
| 65-74 | $95,323 | $154,708 |
| 75+ | Higher threshold | $160,647 |
The recovery is 15% of income over the threshold and may be applied through reduced monthly payments or tax filing.
The most reliable way to confirm OAS payment amounts is through the My Service Canada Account. This platform provides:
The OAS Benefits Estimator on the Service Canada website also allows seniors to project payments based on residence history.
When is the February 2026 OAS payment?
Payments will be deposited on February 25, 2026.
Will my OAS increase in February?
No, OAS adjusts quarterly. February matches January’s amount.
What is the maximum OAS payment for Q1 2026?
$742.31 for seniors aged 65-74 and $816.54 for seniors aged 75+.
Why is my payment different from the maximum?
Partial OAS based on years of residence or income-based clawback may reduce the amount.
February 2026 OAS payments provide Canadian seniors with predictable income for budgeting and financial planning. By understanding the quarterly indexing system, maximum payment amounts, and GIS supplements, retirees can plan their finances effectively. Newcomers to Canada should pay special attention to partial OAS eligibility and social security agreements, while higher-income seniors need to be aware of the recovery tax.
Using online tools like the My Service Canada Account and OAS Benefits Estimator ensures that seniors receive accurate information and helps avoid any confusion about payments. Staying informed on OAS and its quarterly adjustments is key to a secure retirement in Canada.
