The OAS Benefit Calculator is a vital tool for Canadian seniors and those planning their retirement, offering a clear estimate of their potential Old Age Security (OAS) pension. This calculator helps users understand their eligibility, projected payment amounts, and the impact of the OAS recovery tax (clawback) based on their income. It's designed to provide accurate insights into one of Canada's foundational retirement benefits, enabling better financial planning and ensuring individuals maximize their entitlements.
The Old Age Security (OAS) program is a monthly social security payment available to most Canadians aged 65 or older. It is one of the three main pillars of Canada's retirement income system, alongside the Canada Pension Plan (CPP) and private savings. Unlike the CPP, OAS is funded through general tax revenues and is not based on employment contributions.
To be eligible for OAS in 2026, you must be 65 years or older, a Canadian citizen or legal resident, and have resided in Canada for at least 10 years since age 18. If living outside Canada, you must have been a Canadian citizen or legal resident the day before you left and resided in Canada for at least 20 years after age 18.
As of 2026, the maximum monthly OAS payment for individuals aged 65-74 is approximately C$742.31, and for those 75 and over, it's C$816.54. These amounts are subject to quarterly adjustments based on the Consumer Price Index (CPI), with a 1.2% increase expected for the July to September 2026 quarter. Your actual benefit may be lower depending on your years of residency in Canada.
The OAS clawback, or recovery tax, applies if your net income exceeds a certain threshold. For the July 2026 to June 2027 payment period (based on 2025 income), the threshold is $93,454. For every dollar of net income above this amount, your maximum OAS pension is reduced by 15 cents. The full OAS benefit is eliminated at higher income levels, which vary by age group.