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Changes to Old Age Security

Did you know there are changes coming to Old Age Security, increasing the age of eligibility from age 65 to 67?

Starting in April 2023, the age of eligibility will gradually increase:

  • from 65 to 67 for the Old Age Security (OAS) pension and the Guaranteed Income Supplement (GIS)
  • from 60 to 62 for the Allowance and the Allowance for the Survivor.

These changes will be fully implemented by January 2029. For all the details and to check your age of eligibility, go to http://www.servicecanada.gc.ca/eng/services/pensions/oas/changes/age/index.shtml

Have questions about planning for your retirement and how these changes may affect you? Call the office to book an appointment with Dale today!

 

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Mutual Funds provided through Investia Financial Services Inc. Insurance provided through Financial Horizons. All services are provided through Prosperity Planning unless otherwise noted.