Benefits & Funding
Old Age Security (OAS)
Old Age Security is a monthly payment available to most Canadians 65 and older, based on residency rather than work history. It often forms a base layer of retirement income.
Eligibility is based on age and years lived in Canada, not employment.
Higher-income seniors may have part of OAS recovered through a clawback.
Deferring OAS past 65 increases the monthly amount.
This is a plain-language overview to help you plan. For amounts and eligibility specific to your situation, confirm with the official government program.