Easier pension planning
According to our feedback survey, around 75% of respondents use the Old Age Security (OAS) Benefits Estimator to plan for the future.
When you apply for the OAS pension, you can choose your start date. This date determines the amount of your pension for the rest of your life. For each month you wait until age 70, your pension increases by 0.6%. This can impact your other benefits, as well as your partner’s benefits.
What we heard
Our survey respondents would like to try different start dates to better understand the impacts of waiting to receive the pension.
It would be nice if you could run different scenarios, such as the ability to select what date or age you’d like to start the OAS pension.
I’d like to be able to calculate what I could get based on changes in months to see when is the best time to apply.
Try different start dates
Before, the estimator showed the OAS pension amount as soon as you became eligible. It would also let you know how many months or years you could delay after this.
Now, if you’re eligible for deferral, you can change your pension start date to any month between age 65 and 70. Changing this start date allows you to quickly see how it affects the benefits you’re eligible for.
Old Age Security Benefits Estimator project updates
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