If you earn a higher income, discover how much your Canadian Old Age Security benefits may be reduced with this OAS Clawback Calculator.

Canadian citizens aged 65 and older, who have resided in Canada, may be eligible for Old Age Security (OAS), a key retirement benefit provided by the Canadian government. OAS is designed to supplement income during retirement years, offering financial support to seniors. The amount individuals receive from OAS is determined based on their net income. For those with higher incomes, an OAS calculator helps determine the annual clawback amount, which reduces the pension received.

Old Age Security is reduced for people with high income through a clawback/recovery provision.

Understanding the implications of the OAS clawback is crucial for retirement planning among Canadian seniors. By using an OAS calculator, individuals can estimate how their net income affects their OAS entitlement. This allows retirees to make informed financial decisions and potentially optimize their income streams during retirement.

Savings to Reach a Goal Calculator is also available in French

Most working Canadians are eligible to contribute toward and receive benefits from the Canada Pension Plan, or CPP. Try the CPP and OAS Benefits calculator for more retirement planning.

Consumer-facing and Accessible
These consumer-facing financial calculators can be embedded in your web site quickly and easily. Complies with web accessibility standards.

Responsive
Calculators are easy-to-use and fully responsive on any device – phone, tablet, laptop or desktop.

Full Branding
Calculators can be fully branded according to your branding style guide. You’ll be up and running with a quick turnaround.