The Old Age Security (OAS) program provides monthly payments to most Canadians aged 65 and older. However, many retirees are surprised to learn that these benefits can be reduced or even temporarily suspended if their income exceeds certain limits. This reduction—officially called the OAS Recovery Tax and often referred to as the OAS clawback—is administered Continue reading
OAS clawback threshold 2025
5 Common Mistakes That Trigger OAS Clawback in 2025: Protect Your Retirement Income
As retirement approaches, many Canadians look forward to the financial security provided by government programs like Old Age Security (OAS). However, what many don’t realize is that certain income thresholds can trigger a clawback of these benefits—a scenario that could cost you thousands of dollars annually. With changes coming in 2025 and inflation adjustments affecting thresholds, understanding Continue reading