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Monthly Rates For Old Age Security (OAS) and Guaranteed Income Supplement (GIS)

The following chart shows the maximum and average monthly rates for Old Age Security (OAS), Guaranteed Income Supplement (GIS) and the Allowances, as well as the maximum annual income to be eligible for these benefits.

OAS benefit rates are reviewed in January, April, July and October to reflect increases in the cost of living as measured by the Consumer Price Index (CPI).

Pensioners are not eligible for benefits if their income, or the combined income of them and their spouse, is more than the maximum income shown on the chart.

Old Age Security Benefit Payment Rates
October – December 2011

Type of benefit

Average
amount
(June 2011)

Maximum amount *1

Income level
cut-off
*2a

Income level
cut-off for
top-ups
*2b

Old Age Security Pension *3

$498.22

$537.97

Not applicable

Not applicable

Guaranteed Income Supplement (GIS)

Single

$453.38

$729.44

$16,320

$4,448

Spouse/Common-Law partner of someone who:

Does not receive
an OAS pension

$424.81

$729.44

$39,120

$8,896

Receives
an OAS pension

$281.67

$483.68

$21,552

$7,456

Is an allowance recipient

$375.27

$483.68

$39,120 *4

$7,456

Allowance

$387.13

$1,021.65

$30,192

$7,456

Allowance for the survivor

$594.36

$1,143.78

$21,984

$4,448

This information is from the Service Canada web-site, if you are a pensioner but do not receive the maximum OAS pension or if you have questions about the Old Age Pension or the Canada Pension Plan, please feel free to give me a call at 604-895-3325.


*1 - The maximum amount includes the new top-ups for the GIS and the Allowances effective July 1, 2011. More information is available on the Service Canada website at www.servicecanada.gc.ca/seniors.

*2a, *2b - The income level cut-offs do not include the OAS pension or the first $3,500 of employment income.

*3 - Pensioners with an individual net income above $67,668 must repay part or all of the maximum Old Age Security pension amount. The repayment amounts are normally deducted from their monthly payments before they are issued. The full OAS pension is eliminated when a pensioner's net income is $110,123 or above.

*4 - The Allowance stops being paid at $30,192 while the GIS stops being paid at $39,120.

This article is solely the work of Patricia Lloyd for the private information of her clients. Although the author is a registered Mutual Fund Representative with DWM Securities Inc., a DundeeWealth Inc. Company, this is not an official publication of DWM Securities Inc. The views (including any recommendations) expressed in this article are those of the author alone, and they have not been approved by, and are not necessarily those of, DWM Securities Inc.

DWM Securities Inc., Member-Canadian Investor Protection Fund, is a DundeeWealth Inc. Company.

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