In Canada, we have so many systems set up to help us in the long run. One of these systems is called Old Age Security (OAS).
This is the largest Canadian Government pension plan in existence and it is funded via general tax revenues — this means you do not pay into this pension plan yourself. You are eligible to receive monthly payments from OAS providing you are 65+ years old, a Canadian citizen or legal resident when you apply, and you have lived in Canada for 10+ years since the age of 18. OAS also provides three different benefits depending on your personal situation. In some cases, you will need to apply for OAS yourself.
Depending on your retirement vision, we can help you plan to use this along with your Canada Pension Plan, any existing workplace pension plans and more so you can comfortably enjoy a carefree retirement. Click here to book your free consultation today.