Old Age Security (OAS) is Canada's largest public pension program — and understanding it can be worth tens of thousands of dollars in retirement. Here's everything Ontario residents need to know for 2026.
2026 OAS Monthly Amounts
OAS Eligibility and Partial Pension
To receive full OAS, you must have lived in Canada for at least 40 years after age 18. If you have 10–39 years, you receive a prorated amount: years ÷ 40 × full OAS.
The OAS Clawback (Recovery Tax)
If your net income exceeds $95,323 in 2026, you must repay 15% of the excess. The full OAS is recovered when income reaches ~,000 (age 65–74) or ~,000 (age 75+).
Should You Defer OAS Past 65?
You can defer OAS from age 65 to up to age 70, earning a +0.6% monthly bonus (7.2%/year), for a maximum increase of +36% at age 70.
| Defer to Age | Bonus | Monthly Amount | Annual |
|---|---|---|---|
| 65 (no deferral) | 0% | ,724 | |
| 67 | +14.4% | ,979 | |
| 70 | +36% | ,863 |
The break-even point between taking OAS at 65 vs 70 is approximately age 84. Given average Canadian life expectancy of 84.4 years, deferring is a close call — and a great option if you have other income before 70.
What is the Guaranteed Income Supplement (GIS)?
The GIS is an additional benefit for low-income OAS recipients. In 2026, the maximum GIS for a single person is ~$1,108/month, but it reduces by for every of other income and disappears at ~$22,800 annual income.