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Old age security is a monthly government payment that can start as early as age 65, and can be delayed to age 70.

Depending on your income level, there will potentially be a clawback to your payment. Salaries, RRSP/RRIF withdrawals, pension payments, and several other streams of income will determine your income level.

There are ways to avoid OAS clawback by reducing your taxable income. Utilizing your TFSA, drawing down your RRSP before 65, incoming splitting, and other strategies will help you reduce your OAS clawback.

If you have any further questions about this video's topic or any financial planning questions in general, I encourage you to find a certified financial planner in your area or book a consultation with us to get your savings plan on track.  You can email [email protected] or call 604-256-1151 and we will set up a meeting with you.
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DISCLAIMER: The videos and opinions on this channel are for informational and educational purposes only and do not constitute investment advice. Adam Bornn is not registered to provide investment advice and as such does not provide recommendations - those looking for investment advice should seek out a registered professional. Adam is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment trades.

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