3. How much could you receive
The amount of your Old Age Security (OAS) pension will be determined by how long you have lived in Canada after the age of 18.
For the period from April 1 to June 30, 2013, the maximum OAS pension amount was $546.07. Consult the table of Old Age Security payment amounts for current benefit rates.
OAS benefits are adjusted quarterly (in January, April, July and October) if there are increases in the cost of living as measured by the Consumer Price Index.
If you have a low income, you may be eligible to also receive the Guaranteed Income Supplement.
The amount of your Old Age Security (OAS) pension will be determined by how long you have lived in Canada after the age of 18.
How the Old Age Security pension is calculated
Full pension
You may qualify for a full Old Age Security pension in one of two ways:
You resided in Canada for at least 40 years after turning age 18, or
You were born on or before July 1, 1952, and
on July 1, 1977, you resided in Canada, or
on July 1, 1977, you did not reside in Canada but after turning 18, you resided in Canada for a period of time prior to July 1, 1977, or
on July 1, 1977, you possessed a valid Canadian immigration visa.
In addition, you must have resided in Canada continuously for the 10 years immediately before the approval of your OAS pension. If you were absent from Canada during that 10-year period, you may still qualify for a full pension if:
you resided in Canada for at least one year immediately before the approval of your OAS pension, and
you had periods of prior residence in Canada that were equal to at least three times the period of absence during the 10-year period (i.e., three years of residence for every year of absence). For example, an absence of two years between the ages of 60 and 62 could be offset by six years of residence in Canada after age 18 and before age 55.
Partial pension
If you do not qualify for the full Old Age Security (OAS) pension, and do not want to wait until you do, you may qualify for a partial OAS pension.
A partial OAS pension is calculated at the rate of 1/40th of the full OAS pension for each complete year of residence in Canada after age 18.
The minimum period of residence in Canada you need to qualify for a partial OAS pension is 10 years after your 18th birthday (as long as you reside in Canada when you receive your OAS pension). For example, if you resided in Canada for 10 years after your 18th birthday, you may qualify to receive 10/40ths or one-quarter of the full OAS pension.
Note: Once your partial Old Age Security pension has been approved, it will not increase with additional years of residence in Canada.