"As the Consumer Price Index did not increase over the previous 3-month period, Old Age Security benefits remain unchanged for the April to June 2024 quarter. The increase over the past year is 3.2%, from April 2023 to April 2024."
"Old Age Security payment amounts are reviewed each year in January, April, July and October to ensure they reflect cost of living increases, as measured by the Consumer Price Index (CPI).
Notably:
monthly payment rates will increase if the cost of living goes up
monthly payment rates will not decrease if the cost of living goes down"