🍁 civid v1

Status

• Bill C-261 was at first reading on February 9, 2026. It proposes amendments to the Old Age Security Act.

Pension amount

• The bill’s summary says it would increase the full pension for all pensioners aged 65 or older by 10%.
• The bill sets the full monthly pension at $808.45 for the payment quarter beginning July 1, 2025.
• It would also repeal subsection 7(5) of the Act and change the definition of “pension equivalent” to refer to the full monthly pension payable under section 7. The provided text does not show the existing provisions being replaced or repealed.

Employment and self-employment income

• For benefits payable for months after June 2025, the bill would increase the earnings exemption used to determine the guaranteed income supplement from $5,000 to $6,500.
• It would deduct the first $6,500 of combined qualifying employment income and self-employment earnings. For earnings above that amount, it would also deduct half the excess, up to a further $6,500.

Other changes

• For a person who applies after becoming qualified for a partial monthly pension, the bill would provide a 0.6% increase for each month in the specified deferral period. It would also repeal subsections 7.1(5) and (6); their current contents are not provided.
• It would amend a calculation in subsection 12(6) to use the full monthly pension multiplied by the applicant’s special qualifying factor, rounded up to the next multiple of $4 where necessary.