<P> The Old Age Security pension ( or OAS or OAS - GIS ) is a taxable monthly social security payment available to most Canadians 65 years of age or older with individual income less than $122,843 . As of January 2018 , the basic amount is C $586.66 per month . At tax time , recipients with a 2017 income of over $74,788 must pay back a portion of their Old Age Security at a rate of 15 % of net income . This is often referred to as the `` OAS clawback '' . OAS amounts are indexed to the Canadian Consumer Price Index and are adjusted every calendar quarter if the 3 - month average CPI has increased . </P>
<P> The Old Age Security pension ( or OAS or OAS - GIS ) is a taxable monthly social security payment available to most Canadians 65 years of age or older with individual income less than $122,843 . As of January 2018 , the basic amount is C $586.66 per month . At tax time , recipients with a 2017 income of over $74,788 must pay back a portion of their Old Age Security at a rate of 15 % of net income . This is often referred to as the `` OAS clawback '' . OAS amounts are indexed to the Canadian Consumer Price Index and are adjusted every calendar quarter if the 3 - month average CPI has increased . </P>
what is basic old age pension in canada
what is basic old age pension in canada
C $586.66 per month
C $586.66 per month