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Old Age Security Return of Income Form 2015

Old Age Security Return of Income 2015-2024 Form

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old age security goes up for the first time in almost 50 years hey everyone angelo mancios behindthevault.net today we're going to talk about the increase in old age security and how that's going to affect you let's go behind the vault [Music] so old age security is one of three government pensions that canadians are entitled to at retirement so here's how you qualify all these securities actually based on residency not number of years that you've worked what they look at is how many years were you a resident of canada after the age of 18. if you were a resident for 40 years or more you're going to qualify for the maximum benefit whatever it may be in that year if you've been canada less than 40 years then what they do is they just take the number of years and they divide it by 40 to give you a percentage so let's say you've been in canada 20 years you'll be entitled to half of the old age security benefit if you've been in canada 10 years you'll be entitled to one quarter of the old a

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