Old Age Security Program (OAS)
Canadians at age 65 and over, live in Canada at least 10 years are qualified for this Old Age Security Program. The full amount of this benefit is currently at CAD$521.62 and this is qualified Canadians who have lived in Canada over 40 years. If you live in Canada say 20 years, then you are only entitled to 20/40 of the total amount. It is CAD$260.81 and that is 50%. The rate and payment will be adjusted each year in line with the cost of living increases.
Canada Pension Plan (CPP)
This is based on your contribution to CPP during your employment in Canada. Service Canada once received official confirmation of your final employment or self-employment earnings and CPP contributions from the Canada Revenue Agency, the amount of your monthly pension may need to be adjusted. Therefore they cannot calculate the exact amount of your pension at time application. Service Canada must wait until the month your pension starts to ensure that all of the available earnings and contributions are used in the calculation of the amount of pension.
If you would like to know more about the Canada Pension Plan and Old Age Security Program, please visit Servicecanada.gc.ca
Guaranteed Income Supplement (GIS)
The Guaranteed Income Supplement provides additional money, on top of the Old Age Security pension, to low-income seniors living in Canada. To be eligible for the GIS benefit, you must be receiving the Old Age Security pension and meet the income requirements.
To qualify for the GIS, you must be eligible for the Old Age Security pension. Eligibility also depends on whether the combined income of you and your spouse or common-law partner.
How to Calculate Your Benefits
Service Canada base the Supplement on your marital status and your annual income but do not count your OAS benefits. If you are married or living in a common-law relationship, we look at your annual income combined with that of your spouse or common-law partner.
The following chart shows the maximum monthly benefits for October to December 2002. For example, if you are a single person and you have no income other than your OAS, your supplement could be $533.99. If you have other income, your supplement will be less - the amount will depend on how much other income you receive.
You are not eligible for the GIS if you receive more than the "maximum income" shown. Remember, the maximum income does not include your OAS pension.
These amounts may rise over time to keep up with inflation.
| GIS | Maximum monthly GIS benefit | Maximum income |
|---|---|---|
| Single person | $533.99 | $12,816 |
| Couple: one OAS pensioner |
$533.99 | $31,056 |
| Couple: both OAS pensioners |
$347.82 | $16,704 |
| Couple: OAS pensioner, other receives Allowance |
$347.82 | $31,056* |
* The Allowance stops being paid when income exceeds $23,904, while the GIS stops being paid at $31,056.
Source:
It's good to know about retirement programs like OAS, CPP and GIS.
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Hello:
We are trying to figure out how the calculations are made for the GIS regarding couples vs single. Here is a small breakdown how we as single widows see iton a per month basis.
Couples Rent $740.00
Sinle rent $740.00
Laundry soap each $10.00
dish soap dishes done 3 times day $2.00
toilet paper towels misc. $20.00
car ins. couple $100.00
car ins. single $100.00
eye glasses(2 for 1couple) $200.00
eye glasses (2 or 1 single $200.00
Phone/cable couple couple $100.00
Phone/cable single $100.00
Our point here is that we as singles pay the exact same or more for our cost of living yet the couples constantly recieve far more than we do. We recieve (1) one CPP cheque and (1) one OAS cheque while couples recieve (2) two CPP cheques and (2) OAS cheques. The couples are able to have a social life where we singles have none as all our money goes to Rent etc. as we only have the (2) two cheques to work with while the couples have (4) four cheques. It is well documented that there is a severe poverty level in single/widowed seniors and this is one of the main reasons as we are not treated equel.Our major expenses rent etc. are exactly the same as couples yet they recieve far more than singles do. Eye glasses is another examle. I buy glasses at $200.00 the couple also pays $200.00 for the same glasses as they get them 2 for 1. We both pay the same. We can not understand why things are caculated the way they are. Single/widows are in Great need of help as we cannot survive on the amount we reciece while couples once again will be recieving $250.00 more a month than singles. We would very much appreciate an explanation on this as we are at a lost as to how this is figured out. We are hoping you can help us understand this as we can't.
Thank-You
Concerned Widows