Canadians living and working in Ontario are likely eligible for Canada Pension Plan (CPP) benefits at retirement. At age 60 you may apply for a permanently reduced amount, or defer to after age 65 for an increased pension.
Find retirement homes in Ontario. Privately owned and funded entirely by resident fees, these 55+ communities are designed for seniors who do not have significant mobility or medical issues. Retirement Communities provide a variety of social, culinary, fitness and support services to all residents, who enjoy a relaxing and maintenance-free lifestyle. Shared accommodation, private condos, or cottage-style residences are all available to select from.
Ontario is a premium retirement destination for many Canadians – thanks to a thriving economy, modern medical and financial infrastructures, and moderate weather. Over 12 million residents reside in the province, with seniors constituting 14.2% of this population. The province’s largest city is Toronto, which is situated on the shores of Lake Ontario. Home to over four million, 12.4% of the city’s population are senior citizens – a number that’s slated to grow to 20%+ by 2036.
Canadian residents may apply for Old Age Security (OAS) at age sixty-five. To be eligible you must have resided in Canada for a minimum of ten years as an adult (18 years of age and up). Your employment history is not a factor in determining eligibility. .
International benefits, made possible due to social security agreements, are available to Canadians living outside Canada, but who have previously been a resident of Canada for twenty years. If you are a survivor of an individual that has worked in Canada and internationally, you may also be eligible
Guaranteed income supplement (GIS) Low-income Canadian residents receiving OAS, may be eligible to receive a Guaranteed Income Supplement. Your household income must be within preset parameters. Note: Beginning in April 2023, the eligible age for OAS and the GIS will increase from age 65 to age 67 over a six-year period with full implementation by Jan 2029. Those affected were born on or after April 1, 1958.
Allowance program. If you are age 60 – 64, a legal resident and citizen of Canada, having lived in Canada for 10 years since age 18, and your spouse or common-law partner is receiving OAS and GIS, you may be eligible for an allowance benefit – your household income will be considered for eligibility. If you have not lived in Canada for 10 years but your country of residence has a social security agreement with Canada, you may be eligible for a partial benefit.
Allowance for the survivor If you earn a low income and have lived in Canada and your spouse or common-law partner is deceased, you may be eligible for the Allowance for Survivor benefit. To be eligible you must be age 60 – 64, be a Canadian citizen or legal resident, and lived in Canada for at least 10 years after age 18. This allowance will stop at age 65 when you may be eligible for OAS and a GIS.
theRipregistryWhat Federal and Provincial Benefits do seniors get in Ontario?
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