cover image: Old Age Pensions  What is Old Age Security (OAS)

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Old Age Pensions What is Old Age Security (OAS)

26 Jan 2024

You need to have lived in Canada for at least 10 years after the age of 18 Note: for people who have lived in Canada for less than 10 years after the age of 18, they may be able to get income from The Ontario Disability Support Program instead. [...] How much can you get per month if you are single, over 65 and have no other Income? If you have no other income aside from Old Age Security, you should get: • OAS pension $713.34 • GIS: $1,065.47 • Gains: $83 • Total: $1,861.81 per month o Once you reach age 75, your income goes up to $1,933.14 How much money will you get per month if your spouse also receives OAS If you and your spouse have no ot. [...] Allowance/Allowance for the survivor • Allowance: a pension for people age 60-64 who have a spouse or common-law partner who is receiving GIS • Maximum benefit $1,354.69 per month • Allowance for the Survivor: a pension for people age 60-64 who are low income and whose spouse or common-law partner has died • Maximum benefit: $1,614.89 per month Note: you will only get the maximum amounts for eithe. [...] How much OAS will your receive if you are over 65 and your spouse is between the ages of 60 and 64 If neither you or your spouse have any other income aside from OAS and the Allowance: You will receive: • OAS: $713.34 • GIS: $641.35 • GAINS: $83 • Total you will receive: $1,437.69 per month • Your spouse will receive (from the Allowance): $1354.69 per month Total combined income for couple: $2792.. [...] How much CPP-R you get will affect how much GIS you’ll receive, for example: For a person who is single, and whose sole income is OAS/CPP-R and they get $500 per month (net) in CPP-R, their total income at age 65 will be: • CPP-R: $500 • OAS pension: $713.34 • GIS: $732.47 • Gains: $0 • Total: $1,945.81 per month How to apply For Old Age Security, Guaranteed Income Supplement, the Allowance and Ca.

Authors

St. Michael's Academic Family Health Team

Pages
6
Published in
Canada