Old Age Security (OAS)

Canadian "Human Resources Development" administers the Old Age Security program. OAS is now a monthly benefit payable to all Canadians or legal residents who are age 65 and older and who meet certain residence requirements. The program is financed from general federal tax revenues and benefits are adjusted quarterly to reflect increases in the Consumer Price Index (CPI).

Eligibility Requirements for OAS Benefits
The OAS pension is payable at age 65 to all Canadian citizens and legal residents including landed immigrants and those with visitors’ permits. The maximum pension is $466.63 as of July 2004. Prior to July 1, 1977, pensioners qualified for a full pension if they met one of the following requirements:

Residence in Canada (for at least 40 years after reaching the age of 18); or

Uninterrupted residence in Canada for the ten years immediately preceding application for an OAS pension; or

If the applicant had not lived in Canada for ten years immediately preceding application for an OAS pension, he or she could substitute three years of residency between the ages of 18 and 65 for each year of absence during those ten years. In addition, the applicant was to have resided in Canada for one full year immediately proceeding the day on which application was approved.