Old Age Security & Guaranteed Income Supplement
OAS is a monthly benefit for people 65 and older who meet legal status and residence requirements. GIS provides extra support for low-income OAS recipients. Eligibility and amounts depend on your situation and income.
Unlike CPP, OAS is funded from general revenues and keyed to Canadian residency history rather than payroll contributions. Deferred OAS increases the monthly amount but forfeits payments during deferral—actuarial literacy matters for financial planners. The OAS recovery tax (clawback) flows through the personal tax return when net income exceeds legislated thresholds.
Old Age Security (OAS)
Status: not yet eligible. Earliest eligibility (this profile): 2056-07-14. Years of residence in Canada: 14. Full OAS (reference): 40 years (illustrative rule of thumb). Full OAS monthly (2026 reference): $713.34 CAD.
You may defer OAS after eligibility for a higher monthly amount; deferral is irreversible month-by-month once started.
Guaranteed Income Supplement (GIS)
Status: not applicable. Note: Guaranteed Income Supplement is for low-income OAS recipients; not applicable while OAS has not begun..
When you are receiving OAS, you can apply for GIS if your income is below the threshold. Amounts are reviewed with your tax return.