Module 1

Question 1

Provides benefit or service to a universal population
Based on public policy decision for the widest possible segment of society & access to benefits regardless of an individuals financial situation

Answer 1

Universality

Question 2

To Qualify for OAS

Answer 2

1. Cdn citizen or legal resident of Cda with minimum 10 years residence (after 18 yrs old)
2. If no longer resident of Cda - must have lived in Cda for at least 20 years (after 18 yrs old)

Question 3

to qualify for Full OAS

Answer 3

65 & lived in Cda for 40 years

Question 4

to Qualify for Partial OAS

Answer 4

65 Years & lived in Cda for 10 years prior to applying

Partial pmt is X/40 ths of the full pension. X is the number of complete years of residence in Cda

Question 5

Can you collect OAS if not living in Cda?

Answer 5

Yes - lived in Cda for 20 years after 18 years old and worked in a country that has a social security agreement with cda

Question 6

What increases OAS?

Answer 6

OAS rate increases with CPI

Calculated 4 times a year (Jan/Apr/July/Oct)

Question 7

Is OAS taxable?

Answer 7

Yes

Question 8

When does OAS stop?

Answer 8

• Out of country for 6 mos
• Federal prison 2 yrs
• Provincial jail 90 days
• Die

Question 9

To Qualify for GIS

Answer 9

• be receiving the OAS pension, resident of Cda and income at or below qualifying level.
• If married, combined income of the couple must be below the qualifying level
• GIS is added to OAS and reduced by $1 for each $2

Question 10

benefit is determined by income in the previous year, marital status and the amount of OAS pension

Answer 10

GIS benefit

Question 11

Income tested, monthly benefit payable to a 60-64 yr old spouse or common law partner of an OAS pensioner who is entitled to GIS

Answer 11

Allowance & Allowance for the Survivor

Question 12

Is Allowance and GIS taxable?

Answer 12

NO

Question 13

When does Allowance benefits cease?

Answer 13

• In June if income in prev yr exceeds limit for July pmt
• Age 65
• Out of country for 6 mos
• Federal prison 2 yrs
• Provincial jail 90 days
• Die

Question 14

To recover some or all of OAS paid to higher income recipients

Answer 14

Pension Tax Recovery or Clawback
applies at a rate of 15% above an earnings threshold
If Clawback = OAS no pmt is made

Question 15

The supreme law in Canada that sets out the division of powers between the federal and the provincial governments and enshrines certain rights and freedoms for Canadains

Answer 15

Canadian Constitution