"OAS is a universal benefit for Canadians 65 and older, but high earners face a significant clawback."
What is OAS?
Old Age Security is a monthly payment from the Government of Canada to seniors aged 65 and older. Unlike CPP, you don't need to have worked to receive OAS—it's based on residency.
Eligibility
- Age 65 or older
- Canadian citizen or legal resident
- Lived in Canada for at least 10 years after age 18
The OAS Clawback
If your net income exceeds $90,997 (2026), you begin to repay OAS at a rate of 15 cents per dollar. Full clawback occurs at approximately $148,000. Strategies like the RRIF Meltdown can help reduce taxable income to preserve your OAS.
SimRetire Editorial Team
Canadian Retirement Experts
This guide has been rigorously reviewed by our editorial team to ensure 100% compliance with 2026 Canadian tax laws and CRA guidelines. Our mission is to provide accurate, independent, and accessible financial education for all Canadians.