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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).
According to Budget 2012, the OAS program provides approximately $38 billion per year in benefits to 4.9 million individuals. It is now funded from general revenue, although for many years there was such as thing as an OAS Tax. The Canadian Old Age Security (OAS) program is a basic safety net for seniors.It provides a modest monthly payment to seniors 65 years of age and older who meet the Canadian residency requirements. Employment history and retirement status are not factors in the eligibility requirements.ccording to Budget 2012, the OAS program provides approximately $38 billion per year in benefits to 4.9 million individuals. It is now funded from general revenue, although for many years there was such as thing as an OAS Tax. The Canadian Old Age Security (OAS) program is a basic safety net for seniors.