Hello Pierre – If you have been in Canada for at least 20 years after the age of 18, you are entitled to a partial OAS, wherever you live without agreement. If you have been in Canada less than 20 years after the age of 18, you would not be eligible for the OAS if you reside outside of Canada, unless you qualify under one of the many international agreements. This new agreement benefits Canada and India: Hello Carolyn – With a maximum contribution to the CPC, your 65-year-old CPP pension is about $142 per month. If you were in Canada for 5 years, your OAS at age 65 would be approximately $73 per month (5/40th of the full OAS of $583.74) if you qualify under the agreement. However, it may be advisable to delay your OAS until the age of 70, as it will double during these 5 years and you will be “breakeven” at 75 years. 86 The Schedule IX agreements, under section 107, paragraph 1, of the Reciprocal Management or Operating Agreements Act, are applied in Canada to make the law fully effective, in a way that extends the treatment of spouses to Common Law partners. I am a U.S. citizen and Canadian permanent resident who worked in the United States for 17 years before moving to Canada with my family in 2012. I intend to leave the CPC full-time next year with 5 years of contributions. Assuming that I could use my work history in the United States to obtain eligibility under the U.S.-Canada agreement, how would my benefit amount be calculated? I ask the question because I am trying to determine the relative benefits of the U.S. Social Security benefit over the KKPp benefit.
The SS consultant I spoke with said that I could only get benefits under one of the two plans, not both. My annual income in Canada is about $80,000 to $90,000 a year. In the last 6 years 6 pre 7 of my years in the U.S. my income was comparable to this one, but it was much lower upstream and the total amount I will receive from SS is relatively small because they calculate benefits on the basis of an average over a number of years. I suppose I would do better under CPC, but I do not know how my amount of benefits would be calculated here in Canada. Perhaps you could let me know.