How to Maximize OAS

Prior to turning 65 years old, Canadians must decide whether to take Old Age Security (OAS) benefits or defer them until a later time. For each month that benefits are deferred past age 65, an individual's benefits are increased by 0.6%. 

For more information on retirement planning, the book Elmer's Nine & Dine: A Guide to Retirement Planning is available on Amazon.

The following table shows the age at which OAS benefits begin (horizontally) and life expectancy (vertically). The highlighted rows are where the amounts cross over.

For those with a life expectancy of less than 79, beginning OAS at age 65 would be beneficial. 

For those with a life expectancy of 87 years or higher, delaying OAS benefits until age 70 would be optimal.

Maximizing OAS benefits is a function of an individual's life expectancy and current needs. The following table details the increase offered to those aged 65 and up.

Age	65	66	67	68	69	70
65	$ 8,732	-	-	-	-	-
66	$ 17,464	$ 9,361	-	-	-	-
67	$ 26,196	$ 18,721	$ 9,989	-	-	-
68	$ 34,928	$ 28,082	$ 19,979	$ 10,618	-	-
69	$ 43,660	$ 37,443	$ 29,968	$ 21,236	$ 11,247	-
70	$ 52,392	$ 46,804	$ 39,958	$ 31,854	$ 22,494	$ 11,876
71	$ 61,124	$ 56,164	$ 49,947	$ 42,473	$ 33,741	$ 23,751
72	$ 69,856	$ 65,525	$ 59,937	$ 53,091	$ 44,987	$ 35,627
73	$ 78,588	$ 74,886	$ 69,926	$ 63,709	$ 56,234	$ 47,502
74	$ 87,320	$ 84,247	$ 79,916	$ 74,327	$ 67,481	$ 59,378
75	$ 96,926	$ 94,544	$ 90,904	$ 86,007	$ 79,853	$ 72,441
76	$ 106,531	$ 104,840	$ 101,892	$ 97,687	$ 92,224	$ 85,504
77	$ 116,136	$ 115,137	$ 112,881	$ 109,367	$ 104,596	$ 98,567
78	$ 125,741	$ 125,434	$ 123,869	$ 121,047	$ 116,967	$ 111,630
79	$ 135,347	$ 135,731	$ 134,858	$ 132,727	$ 129,339	$ 124,694
80	$ 144,952	$ 146,028	$ 145,846	$ 144,407	$ 141,711	$ 137,757
81	$ 154,557	$ 156,324	$ 156,834	$ 156,087	$ 154,082	$ 150,820
82	$ 164,162	$ 166,621	$ 167,823	$ 167,767	$ 166,454	$ 163,883
83	$ 173,768	$ 176,918	$ 178,811	$ 179,447	$ 178,825	$ 176,946
84	$ 183,373	$ 187,215	$ 189,800	$ 191,127	$ 191,197	$ 190,009
85	$ 192,978	$ 197,512	$ 200,788	$ 202,807	$ 203,568	$ 203,072
86	$ 202,583	$ 207,809	$ 211,776	$ 214,487	$ 215,940	$ 216,135
87	$ 212,189	$ 218,105	$ 222,765	$ 226,167	$ 228,311	$ 229,199
88	$ 221,794	$ 228,402	$ 233,753	$ 237,847	$ 240,683	$ 242,262
89	$ 231,399	$ 238,699	$ 244,742	$ 249,527	$ 253,055	$ 255,325
90	$ 241,004	$ 248,996	$ 255,730	$ 261,207	$ 265,426	$ 268,388

 

All amounts in the table are as of the first quarter of 2025, rounded to the nearest dollar.

This page was last updated in January 2025.

The information provided is for informational purposes only and does not constitute advice.