/  45

Notes

(1)   The Old Age Security (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 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 2014, if an individual’s net income is greater than approximately $71,592, 15% of the 

excess over this amount must be repaid. The full OAS pension is eliminated when net 

income reaches $116,103.
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 Guaranteed Income Supplement (GIS) is a monthly non-taxable benefit paid to low-

income OAS recipients. Eligibility to receive the benefit in 2014 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 $17,088.

• Married individuals where both spouses/partners receive OAS benefits—combined net

income (excluding OAS and GIS) must be less than $22,560.

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 2014 must be less than $31,584.
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

2013

2014

2013 

2014

2013

2014

1st

$546.07

$551.54

$740.44

$747.86

$490.96

$495.89

2nd

546.07

551.54

740.44

747.86

490.96

495.89

3rd

549.89

558.71

745.62

757.58

494.40

502.34

4th

550.99

563.74

747.11

764.40

495.39

506.86

Current as of December 31, 2014

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affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.