Cost Of Living Increase 2024 Canada Oas. This substantial boost will help offset rising costs. Yes, oas benefits will likely see a cpp and oas payment increase of over 5% in 2024 based on inflation projections.

The maximum monthly oas payment in 2024 is $718.33 (age 65 to 74) and $790.16 (age 75 and over). Benefits will increase by approximately 0.7% for the july to september 2024 quarter, reflecting the recent changes in the consumer price index (cpi).