Old Age Security Program

A financial assistance program administered by the Income Security Programs Branch of HRSDC that pay monthly benefits to most Canadians age 65 and older. Old Age Security (OAS) is paid to most Canadians with at least 10 years of residency. An individual's employment history is not a factor in determining eligibility, nor does the applicant need to be retired. OAS pensioners pay federal and provincial income tax. Higher income pensioners also repay part or all of their benefit through the tax system.