Federal Programs
When deciding when to start receiving your OAS pension, you should
consider your personal situation:
Current and future sources of income
Employment status now and in the future
Health and retirement plans
Note: If you choose to delay your OAS pension you will
not be able to receive the Guaranteed Income
Supplement. Your spouse will also not be able to
receive the Allowance benefit for the length of time you
are deferring your OAS pension.
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People who can continue working past 65, and those that can afford to wait
to receive an OAS pension, will benefit from delaying the OAS pension. If
they can delay receiving the OAS pension until their income decreases,
they will receive more of their OAS pension and at higher payments.
Old Age Security Pension (OAS) continued
For further information on eligibility and deferral go to the following link:
http://www.esdc.gc.ca/en/cpp/oas/eligibility.page
The amount of your Old Age Security (OAS) pension will be determined by
how long you have lived in Canada after the age of 18. As of August 2018,
the maximum monthly payment amount is $596.67 regardless of marital
status. These amounts can change so for information on Old Age Security
benefit amounts visit: http://www.esdc.gc.ca/en/cpp/oas/payments.page
Did you know …? The OAS pension is considered taxable income.
For more information about, or to apply for the Canada pension plan and/or
old age security benefits contact Service Canada. You can reach them at
1-800-277-9914, or visit their website at: www.servicecanada.gc.ca.
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