Seniors -> Old Age Security pension
Old Age Security Pension (OAS)
The Canadian Old Age Security Pension is available to Canadian citizens age
65 or older, who have lived in Canada for at least 10 years after age
18. For Canadian seniors living outside Canada, the OAS is still
available for those who were Canadian citizens or legal residents at the time
they left the country, as long as they lived at least 20 years in Canada after
age 18. Seniors must apply to receive the OAS. This should be done
6 months before you turn 65. For contact numbers or application forms,
see Applying
for the Old Age Security Pension on the Service Canada website.
Service Canada also provides the ability for recipients of OAS
or CPP benefits to view
and update their personal information online.
Canada has social security agreements with many other countries, so those
not qualifying for the OAS as above may still qualify for some type of
pension. See the International
Benefits information on the Service Canada website for further information.
OAS monthly payments are adjusted quarterly, based on changes in the
Consumer Price Index. For current average and maximum payment amounts,
see the Old
Age Security Payment Rates on the Service Canada website.
OAS payments are considered taxable income.
OAS Clawback
High income seniors must pay back all or a portion of their OAS if their
annual income exceeds a certain amount. If your net income before
adjustments for 2008 (line 234 on your tax return) is $64,718 or less, you
will not have to repay any of your OAS benefits. If 2008
net income before adjustments is greater than $64,718 ($66,335 for 2009) then you will have
to repay 15% of the excess over this amount, to a maximum of the total amount
of OAS received. For more information, see the Human
Resources and Social Development Canada (HRSDC) web page Repayment
of OAS Benefits. Use our Canadian
Tax Calculator to determine if your OAS will be
"clawed back".
Low-income seniors living in Canada, who are receiving (or are eligible to
receive) the Old Age Security Pension (OAS) may also be eligible to receive
the Guaranteed Income Supplement (GIS).
To contact Service Canada re Old Age Security questions,
see the Service
Canada
Contact Income Security Programs web page.
Revised: July 19, 2010
