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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).
Note that preservation age is different from âAge Pension ageâ. The federal treasurer, Joe Hockey, has spooked the electorate by announcing a proposed increase in the Age Pension age to 70 years (which has not received support from parliament, and did not become law).or example if your Age Pension age is 70 (which will be the case for those born after 1965, if the Liberals win the next election and can persuade the parliament to increase the Age Pension age to 70), then based on the rumours floating about, your preservation age is expected to be 65 years.