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| *Ostroff, Fair and Company>>>Canada Taxes |
Can you collect old age security if you are living outside of Canada? |
Can you collect old age security if you are living outside of Canada? From the Human Resource and Social Development Canada web site: Payment outside Canada: Once a full or partial Old Age Security pension has been approved, it may be paid indefinitely outside Canada, if the pensioner has lived in Canada for at least 20 years after reaching 18 years of age. Otherwise, payment may be made only for the month of a pensioner's departure from Canada and for six additional months, after which payment is suspended. The benefit may be reinstated if the pensioner returns to live in Canada and meets all conditions of eligibility. The Guaranteed Income Supplement and the Allowance may be paid outside Canada for only six months following the month of departure from Canada regardless of the length of time you have lived in Canada. Source(s): http://www.sdc.gc.ca/asp/gateway.asp?hr=... I have no idea of the answer--about Canada; however, I did see Canadians living full time in retirement in Costa Rica and I am sure there is a way to have a Canadian address and forwarding system for them to get their retirement funds to continue to live down there. Retired American military service men and women live in the Philippines, Panama, Mexico etc: So there has to be a way..... I did some short-term Christian Missionary work in Costa Rica and knew a few folks that had retired down there. Everyone should visit New Zealand, Costa Rica and the Cook Islands in the South Pacific before they die! YES you can. Old Age Security is an entitlement which cannot be rescinded. Once you have attained the age of 65, you begin receiving OAS (provided you have met the eligibility rules). The annual supplement if entitled, is reviewed annually; however, most OAS payments get directly deposited, so out-of-country issues rarely come up. There are occasions when OAS payments get "clawed back" -- if the recipient's income gets too high the government begins "clawing back" the OAS until a point at which it is entirely gone (at income of $60,806) |
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