Old Age Security

Old Age Security (OAS) is a government program in Canada designed to provide financial support to seniors aged 65 and older. It offers a monthly payment to help cover basic living expenses, funded through general tax revenues rather than individual contributions. The amount received depends on the length of residency in Canada and can vary for higher-income individuals. OAS aims to ensure that older Canadians have a stable income as they transition into retirement, contributing to their overall well-being and financial security.