The facts on the age of eligibility for Old Age Security benefits

Myth

The age of eligibility for the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS) is increasing from 65 to 67 years old.

Fact

The Government of Canada has taken steps to ensure that older Canadians can continue to access the OAS pension and the GIS at age 65.

In 2016, the Government cancelled provisions in the Old Age Security Act that increased the age of eligibility for the OAS pension and the GIS from 65 to 67, and increased the age of eligibility for Allowance benefits from age 60 to 62. The increase in the age of eligibility was scheduled to start April 2023, with full implementation in 2029.

By cancelling these provisions, the age of eligibility for the OAS pension and the GIS will remain 65, and the age of eligibility for Allowance benefits will remain 60.

Maintaining the age of eligibility was an essential part of the Government’s plan to strengthen Canada’s public pensions and improve the lives of older Canadians. By cancelling these provisions, the Government has put thousands of dollars back into the pockets of Canadians and prevented about 100,000 future seniors from falling into poverty.

Maintaining the age of eligibility is just one example of the concrete actions the Government has taken to make life more affordable for seniors since 2015. The Government of Canada has:

• increased the OAS pension for Canadians aged 75 and over by 10%. This strengthened the financial security of approximately 3.3 million seniors, 56% of whom are women
• increased the GIS for nearly 900,000 low-income single seniors. Because of this increase, along with other government initiatives, an estimated 45,000 seniors were lifted out of poverty
• provided a one-time payment that doubled the GST credit, which put an average of $225 more in the pockets of seniors