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The Old Age Security program applies differently to newcomers so make sure you know the rules.
In my last blog I talked about the specific rules around how much you will get from OAS. Service Canada’s website suggests you think of OAS as a pie that’s been divided into 40 equal portions. To get the full pension, you have to qualify for all 40 pieces. Less than 40 pieces? You may get some pension, but it’ll be less than the $6,000 a year you hear about.
The number of pieces of pie you get depends on how many years you’ve lived in Canada after the age of 18. From here the formula gets really complicated. If you were born before 1952 special rules apply:
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