OAS

In 2025, the Canadian government will introduce an additional $3,100 payment under the Old Age Security (OAS) program, offering much-needed financial relief to seniors aged 65 and older. This payment is part of Canada’s commitment to assist retirees in managing rising living expenses, especially amid inflation. Key Highlights of the Payment Amount: A one-time $3,100 … Read more

The Old Age Security (OAS) clawback, officially called the OAS Recovery Tax, is a mechanism that reduces OAS payments for Canadian retirees whose income exceeds a government-set threshold. In 2025, the threshold stands at $90,977, with a reduction of $0.15 for every dollar earned above this amount. For retirees with incomes reaching $149,000 or more, … Read more