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Notes
(1) The OAS basic pension is a monthly taxable benefit available to individuals age 65 and over
who have met certain Canadian residency requirements.
In 2012 measures were introduced to increase the age of eligibility to 67 starting in April
2023. Generally, a minimum residence period of 40 years after age 18 is required in order
to be eligible to receive the full pension entitlement. A minimum residence period of 10
years after age 18 is required in order to receive a partial pension entitlement. Benefits
may also be affected by a social security agreement with a previous country of residence.
Individuals must apply in order to receive OAS benefits.
The government also introduced a voluntary deferral of the Old Age Security (OAS) pension
that will give people the option to defer take-up of their OAS pension by up to five years
past the age of eligibility, and subsequently receive a higher, actuarially adjusted pension,
starting in July 2013.
For 2013, if an individual’s net income is greater than approximately $70,954, 15% of the
excess over this amount must be repaid. The full OAS pension is eliminated when net
income reaches approximately $114,815.
Generally, full or partial OAS pension benefits may be paid indefinitely to non-residents, if
the individual had lived in Canada for at least 20 years after age 18. Otherwise, payment
may be made only for the month of the individual’s departure from Canada and for six
additional months. The benefit may be reinstated once the individual returns to live in
Canada.
(2) The GIS is a monthly non-taxable benefit paid to low-income OAS recipients. Eligibility
to receive the benefit in 2013 is based on the annual income and marital status of the
individual:
• Single, divorced, separated or widowed individuals—net income (excluding OAS and
GIS) must be less than approximately $16,700.
• Married individuals where both spouses/partners receive OAS benefits—combined net
income (excluding OAS and GIS) must be less than approximately $22,080.
The amounts indicated in the table reflect the maximum monthly benefits.
An Allowance is also available to low-income individuals between the ages of 60 and 64
whose spouses/partners are eligible to receive the OAS and the GIS. To be eligible for this
non-taxable monthly benefit, you must have lived in Canada for at least 10 years after the
age of 18, and family net income in 2013 must be less than approximately $30,672.
Individuals must apply in order to receive GIS and/or Allowance benefits. Generally,
individuals may automatically renew the GIS and Allowance by filing their income tax
return.
The GIS and Allowance are not payable to non-residents beyond a period of six months
after the month of departure. However, individuals may reapply upon return to Canada.
Old Age Security Benefits
Monthly
Payments
by
Quarter
Old Age Security (OAS)
1
Guaranteed Income Supplement (GIS)
2
Single
Married
2012
2013
2012
2013
2012
2013
1st
$540.12
$546.07
$732.36
$740.44
$485.61
$490.96
2nd
540.12
546.07
732.36
740.44
485.61
490.96
3rd
544.98
549.89
738.96
745.62
489.98
494.40
4th
544.98
550.99
738.96
747.11
489.98
495.39
© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Current as of September 30, 2013