Old Age Security (OAS)
Canadian ProgramsA monthly pension paid to most Canadians aged 65 and older who have lived in Canada for at least 10 years after turning 18. Unlike CPP, you do not need to have worked to receive OAS. Higher-income seniors may have to repay some or all of it (the OAS clawback).
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Guaranteed Income Supplement (GIS)
A monthly non-taxable benefit for low-income Old Age Security recipients. GIS provides significant additional income for seniors who have little or no other income. You must file a tax return annually to maintain eligibility.
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Canada Pension Plan (CPP)
A mandatory pension program that most working Canadians contribute to through payroll deductions. It provides retirement income starting as early as age 60, plus disability and survivor benefits. The amount you receive depends on how much and how long you contributed.