What is oas?
Also known as: Old Age Security
Definition
Educational information only. Last reviewed August 25, 2026.
How it works in Canada
Eligibility generally begins at 65 and full benefits require a specified number of years of residency after age 18. Deferral past 65 increases the monthly amount. The recovery tax, often called the OAS clawback, is why taxable income planning matters in retirement.
Example
A retiree whose net income exceeds the annual threshold repays part of their OAS through the recovery tax, which is one reason TFSA withdrawals are attractive: they are not counted as income.
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Written and reviewed by CanadaGFI.ca Editorial Team
Licensed insurance and financial professionals contributing to CanadaGFI.ca
Published and last reviewed August 25, 2026. Read our editorial policy and disclosures.
This page is educational information about Canadian financial concepts. It is not personalized financial, tax, insurance or legal advice, and it does not consider your individual circumstances. Product availability, eligibility, pricing and tax treatment depend on the provider, your situation and current Canadian rules. Speak with a professional licensed in your province before acting.
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