The Old Age Security program is sometimes referred to as the cornerstone of Canadas retirement income system. Why?
The Old Age Security pension is the largest single source of income for Canadian seniors. In 1997, fully 29 percent of the income of Canadian seniors came from OAS (including the Guaranteed Income Supplement). A further 21 percent of seniors’ income came from the CPP/QPP. Together, these programs provide 50 percent of the income of Canada’s seniors.
