Social Security Agreements
Canada has social security agreements with a number of countries. These agreements may allow a person who has lived in Canada and another country (for example, the U.S.), to count years spent in the other country to qualify for the OAS pension. Note that this is to qualify, and that only time actually spent living in Canada will be counted in determining the amount of the pension.
For low income pensioners who earn little or no other income, the Old Age Security is supplemented by a Guaranteed Income Supplement (GIS), which is considered non-taxable income. The amount of the Guaranteed Income Supplement depends on income, marital status and the age of the spouse in married couples. As of January, 2012, the maximum supplement for a single individual with no other source of income is C$732.36 per month, and C$485.61 per month to each spouse of a married couple.
Old Age Security should not be confused with the Canada Pension Plan, which is a contributory, earnings-related pension paid in addition to the OAS to those who have contributed to it.
Read more about this topic: Old Age Security
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