Can you receive Old Age Security outside Canada?
When planning for retirement, many Canadians wonder if they can receive Old Age Security (OAS) benefits while living abroad. The answer is yes, you can receive OAS outside Canada, but there are certain conditions and requirements that must be met. This article will explore the details of receiving OAS benefits while living outside of Canada, including eligibility criteria, the application process, and potential restrictions.
Eligibility for Old Age Security Benefits Abroad
To be eligible for OAS benefits while living outside Canada, you must meet the following criteria:
1. Residency Requirement: You must have lived in Canada for at least 20 years after turning 18, with at least 10 of those years being after January 1, 1977. If you have not lived in Canada for this duration, you may still be eligible if you have a spouse or common-law partner who has met the residency requirement.
2. Citizenship: You must be a Canadian citizen or have a status in Canada, such as a permanent resident or protected person.
3. Age Requirement: You must be at least 65 years old to receive OAS benefits.
4. Residency Requirement: You must be living in a country with which Canada has a social security agreement. As of 2021, there are 26 countries with such agreements, including the United States, the United Kingdom, Australia, and New Zealand.
Application Process for OAS Benefits Abroad
If you meet the eligibility criteria, you can apply for OAS benefits through the Canada Revenue Agency (CRA). The application process is as follows:
1. Complete the Application: You can apply for OAS benefits online, by phone, or by mail. The CRA website provides a detailed application form that you will need to complete.
2. Provide Required Documents: You will need to provide proof of your citizenship, age, and residency in Canada. If you are living outside Canada, you will also need to provide proof of your current address and citizenship or status in the country where you are living.
3. Submit the Application: Once you have completed the application and gathered all the necessary documents, submit them to the CRA. You can do this online, by mail, or in person at a Canada Revenue Agency office.
Understanding the Restrictions
While you can receive OAS benefits outside Canada, there are some important restrictions to keep in mind:
1. Taxation: The amount of OAS benefits you receive may be taxable in the country where you live. It is essential to consult with a tax professional to understand the tax implications of receiving OAS benefits abroad.
2. Social Security Agreements: If you live in a country without a social security agreement with Canada, you may not be eligible for OAS benefits.
3. Reporting Requirements: You must report any changes in your residency status or other relevant information to the CRA to ensure that your OAS benefits are accurate and up-to-date.
In conclusion, if you meet the eligibility criteria and live in a country with a social security agreement with Canada, you can receive Old Age Security benefits while living abroad. However, it is crucial to understand the application process, potential restrictions, and tax implications to ensure a smooth transition into your retirement years.
