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For the Old Age Security (OAS), itâs earned at 1/40th of the maximum (approx $540/mth) for every year of residence in Canada after age 18. Your total of 32 years would therefore give you about $432/mth and your wifeâs 22 years would give her about $297/mth.f so, there are no further government pensions until at least one of you reaches age 65, at which time you should qualify for Old Age Security (OAS), depending on how long youâve lived in Canada since age 18, and possibly the Guaranteed Income Supplement (GIS).
On the upside, according to the government, around 50,000 lucky Australians will receive the FULL Age Pension (rather than their current PART Age Pension entitlement) due to an increase in the assets-test free area threshold, effective from January 2017.he stricter Age Pension assets test will operate as follows: The taper rate for the assets test, which determines how much Age Pension you receive, will reduce your Age Pension entitlement by $3 a fortnight for every $1000 of assets you own over the full Age Pension threshold, taking effect from 2017.