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The Government of Canadas Old Age Security pension, the Guaranteed Income Supplement and the Allowances are all protected from inflation. OAS benefit amounts are adjusted four times a year: in January, April, July and October, using the Consumer Price Index. The Consumer Price Index tracks changes in prices of goods and services bought by Canadian consumers like food, shelter, clothing and other household expenses. Tying OAS benefits to the Consumer Price Index four times per year ensures payment amounts respond quickly to the changes in the cost of living. And, if inflation goes down, payments stay the same. Your benefits will never decrease. To see the recent adjustments for inflation, visit: Old Age Security benefits payment amounts on the Canada.ca website.