As of July 1, 2012, the maximum basic OAS pension benefit paid to people 65 years of age and older will increase by 0.9% to $544.98 per month.
The federal government hiked the eligibility age for Old Age Security (OAS) to 67 from 65 reflecting the reality that Canadians are living longer and healthier lives, and may prefer to keep working.
Ottawa should move to reform seniors' benefits by letting recipients choose richer payments, later, from the Old Age Security and Guaranteed Income Supplement programs if they wish, says a report by C.D. Howe Institute president and CEO William B.P. Robson.
Prime Minister Stephen Harper put pensions on the front page with his announcement on Jan. 23, 2012, that the federal government is considering reducing the costs of the Guaranteed Income Supplement (GIS) and Old Age Security (OAS).
Human Resources and Skills Development Canada has announced the benefit rates for the Canada Pension Plan and Old Age Security, effective Jan. 1, 2012.
When it comes to government benefits, chances are many of your employees don’t know what’s available or what they’re entitled to. Is it your job to enlighten them? Maybe not. But if you accept the fact that government benefits can have a significant impact on the economic well-being of retired employees, and if you care […]
Human Resources and Skills Development Canada has announced the quarterly benefit rates for old age security (OAS) will rise by 0.5% to $526.85, effective April to June 2011. Since July 2010, OAS benefits will have increased by 1.9%. Payments under the guaranteed income supplement (GIS) and the allowances will also increase by 0.5%. MAXIMUM OLD […]