Integration with Old Age Security (OAS) lets a member get a higher pension from the pension plan until age 65, but less pension from the pension plan after age 65.

The Federal Government has proposed OAS changes to gradually increase the eligibility age from 65 to 67, which would not seem to directly impact anyone born before April 1958. It’s therefore unlikely to impact most pensioners who elected OAS integration.

If you were born after March 1958 and you are considering integrating your pension with OAS, you may want to consider the possible reduction in income at age 65 as a result of the proposed changes. 

If the Federal Government amends the Old Age Security Act to increase the eligibility age for some recipients, the board would review the pension plan provisions to determine how the change may impact plan members who elect this option.

Members who would be interested in having the pension plan provisions for OAS integration changed if the Federal Government changes the OAS entitlements should contact a member of the Superannuation and Insurance Liaison Committee. A list of members is available on the board’s website under “Board and Committees”.

 More information on the proposed change is available at:http://www.servicecanada.gc.ca/eng/services/pensions/oas/pension/index.shtml