Why OAS Laws Are Ruining Your Retirement in Canada

7 OAS Mistakes That Are Costing Canadian Seniors Thousands Every Month

Are you unknowingly giving back hundreds of dollars in OAS benefits to the government every month?

This video exposes the 7 most costly Old Age Security mistakes that Canadian seniors make - and how to avoid them before it's too late.

What You'll Learn:
- The $93,454 income trap that triggers OAS clawback and how to avoid it
- Why deferring OAS to age 70 could earn you an extra $4,500 per year for life
- The 10% age 75 bonus most seniors don't factor into their planning
- How to recover up to 11 months of retroactive OAS payments (and when you can't)
- Pension income splitting strategies that could save thousands in clawback
- Why worldwide income affects your OAS and catches seniors with foreign assets
- The automatic application trap that prevents strategic OAS planning

The maximum OAS is $727.67/month for ages 65-74 and $800.44/month for 75+, but many seniors lose hundreds monthly due to the recovery tax starting at $93,454.

For every dollar over this threshold, you repay 15 cents of your OAS - and at higher incomes, you could lose the entire benefit.

Whether you're planning retirement, already receiving OAS, have international income sources, or want to maximize your government benefits through income splitting, understanding these rules is critical.

The difference between making informed decisions and common mistakes can cost you tens of thousands over your retirement.

Perfect for: Canadian seniors approaching 65, current OAS recipients, high-income retirees facing clawback, couples planning income splitting strategies, and snowbirds with cross-border income.

Check your OAS eligibility and amounts at: canada.ca/my-service-canada-account

Next, watch my CPP video to learn about the 10 Canada Pension Plan rules that could save you even more money.

DISCLAIMER: Educational purposes only. Not financial, tax, or legal advice. Consult qualified professionals for your specific situation.

Sources: Service Canada, Employment and Social Development Canada, Canada Revenue Agency

#OAS #OldAgeSecurity #CanadianSeniors #RetirementPlanning #OASClawback #RetirementCanadaRetry

Видео Why OAS Laws Are Ruining Your Retirement in Canada канала Milele