What to Consider
- CPP - Canadian Pension Plan
- OAS - Old Age Security
Old Age Security (OAS)
The Old Age Security pension is a monthly payment you can get if you are 65 and older. In some cases, Service Canada will be able to automatically enroll you for the OAS pension. In other cases, you will have to apply for the Old Age Security pension. Service Canada will inform you if you have been automatically enrolled. In most cases, you do not have to apply to get this benefit.
The Old Age Security (OAS) pension is permanently increased by 10% for seniors 75 years of age and over starting in July 2022.
| Age | Maximum monthly payment amount | To receive the OAS your annual income in 2021 must be |
|---|---|---|
| 65 to 74 | $685.50 | Less than $129,757 |
| 75 and over | $754.05 | Less than $129,757 |
References
| Reference | URL |
|---|---|
| Old Age Security | https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.html |