Old Age Security

Old Age Security (OAS) benefit rates are reviewed in January, April, July

and October, and adjusted to keep pace with inflation, as measured by the

Consumer Price Index.

Source: Canada.ca.

Guaranteed Income Supplement

The Guaranteed Income Supplement (GIS) tops up the Old Age Security

pension for seniors with low incomes. Low-income seniors, 60 to 64 years

old, may be eligible for a related allowance if their spouse is entitled to

receive the OAS/GIS or has passed away.

Maximum monthly

benefit (Jan–Mar 2018) 2018 maximum annual income

$586.66 Pensioners with an individual net income above $74,788

must repay part or all of the maximum OAS pension amount.

Repayment amounts are normally deducted from monthly

payments before they are issued. The full OAS pension is

completely eliminated when a pensioner’s net income is

$121,314 or more.

Guaranteed Income Supplement

The Guaranteed Income Supplement (GIS) tops up the Old Age Security

pension for seniors with low incomes. Low-income seniors, 60 to 64 years

old, may be eligible for a related allowance if their spouse is entitled to

receive the OAS/GIS or has passed away.