Prototype OAS Delay Calculator
Eligible Canadians can apply for Old Age Security (OAS) starting at age 65. It's also possible to delay applying up to age 70. Each month of delay will increase the benefit by 0.6%. But it may not be worth it, especially for low income Canadians that are also eligible for GIS. Use this calculator to determine how delaying could impact you.
Your Results
With your years in Canada after age 18, you're eligible for a monthly OAS benefit of , which is of the full amount , starting at age .
Delaying OAS to age will increase your payment by to .
While delaying does result in a larger monthly payment, it also means forgoing years of payments from age to your delayed starting age of .
Furthermore, your selected income range makes you eligible for an approximate monthly GIS benefit of which you can only get by claiming OAS.
Those years of missed payments represent an income loss of .
In order to break even (have the same amount of money) from delaying OAS to , you would have to live until at least years old. If you live beyond this, then you will end up with more OAS overall than if you had started at .
The chart below shows how much total OAS you will have accumulated at each age whether you started at or . Where the two lines cross over is the break even point.
About This Project
This project is a prototype developed by Daniela Baron, a Ruby on Rails engineer actively seeking new opportunities. It was created in collaboration with John Stapleton of Open Policy Ontario. The goal is to improve uptake of OAS among seniors, particularly those in a low income bracket that could also be eligible for GIS (Guaranteed Income Supplement).
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