Is the $3,500 Old Age Security payment in December 2024 just a Rumor? Fact Check & All the things you need to Know Here!

$3500 Old Age Security Payment 2024: Canada Revenue Agency is releasing the monthly payment of pension schemes in the state for OAS scheme holder as $3500 Old Age Security Payment 2024. CRA is expected to release this month. If you are also have a beneficiary, then you can read this article where we will share with you details of CRA increased payment of OAS 2024 including the updated $3500 Old Age Security Payment eligibility criteria, date of releasing the $3500 Old Age Security Payment 2024, how to claim the $3500 Old Age Security Payment 2024, the expected amount of releasing the new OAS increased payment, etc.

The government of Canada offers multiple types of cash assistance to eligible citizens. Currently, the country is facing high inflation which is making it hard for people to fulfill basic needs. The following article focuses on the $3500 Old Age Security Payment. It is being said that the government has increased the Old Age Security Payment Amount for eligible beneficiaries.

$3500 Old Age Security Payment 2024 Eligibility

• All the citizens of Canada are eligible to receive the $3500 Old Age Security Payment 2024 who are already registered with the CRA. 
• The scheme is only designed for senior citizens in the country so if your age is more than 65 years then you can yourself on the OAS portal to receive the canada.ca $3500 Old Age Security Payment 2024.
• All the beneficiaries receive the same payment each month so there is no part of earning during your young age or investment in the plan to increase your payment.
• However, as you are living in the state the authority will automatically update your CRA OAS payment and will provide the extra payment accordingly. 
• Scheme is only design for low-income group senior citizens who are not earning sufficient amount for their personal welfare as well as family welfare. 
• Only those who are paying annual tax to the government can avail of such benefits.

$3500 Old Age Security Payment 2024: An Overview

$3500 Old Age Security Payment 2024 Dates

Canada Revenue Agency has already prepared a chart of all the months and dates of releasing the Old Age Security Payment for OAS scheme. Currently, citizens will receive this monthly payment which is scheduled on Friday. As of now, the $3500 Old Age Security Payment 2024 news has not been verified by the authority but it is expected to be released by December 20, 2024. Beneficiaries can expect to receive the payment of December month earlier on 20 December before activating the winter vacations.

You can claim $3500 Old Age Security Payment 2024 according to your eligibility criteria and beneficiary status by visiting the official website of CRA and login into the OAS portal using your unique ID and password after that can click on the claim Old Age Security payment link so, the $3500 Old Age Security Payment 2024 will be transferred in the bank account of the beneficiaries directly after releasing by the authority.

OAS $3500 Increase Payment 2024 Fact Check 

• A permanent 10% increase in Old Age Security income was given to seniors 75 years of age and above in July 2022.
• Benefits under the OAS rose by 0.7% for the July–September 2024 quarter, or 2.8% more than the prior year.
• Any official updates can be obtained at the official link at www.canada.ca.

Fact Check about Canada $3500 Old Age Security Payment 2024

Rumors of specific checks often arise from misunderstandings of existing government benefits or exaggerated claims made online. It’s important to rely on official sources for accurate information. There has been no federal announcement about $3,500 Old Age Security payment in December 2024. Most deposits for government programs will vary based on individual circumstances, including income, work history, and eligibility. To avoid becoming a victim of misinformation, always verify claims through official government websites or consult a financial advisor.

FAQ’s: $3500 OAS Payment 2024