Which Is Better Among Canada Pension Plan (CPP), Old Age Security (OAS), And The Guaranteed Income Supplement (GIS)?

All three plans are pension plans for the senior citizens of Canada. Through these plans, the Canadian government provides financial assistance to senior citizens in their retirement phase.


The Canada Pension Plan is a program that provides pensions to those workers who contribute to this program. In this plan, individuals receive a monthly income in retirement which is a part of their work earnings.

The amount of money one receives in CPP depends on their earnings, contribution, and age of contribution in CPP. And one can decide when they want to start their retirement pension. The more you delay, the more is the benefit.


The Old age security pension is received by those individuals who are citizens of Canada. To qualify for OAS, one must have lived in Canada for more than 10 years after the age of 18.

They will receive a partial income. If one lives for more than 40 years after the age of 18, he/she is eligible to receive full OAS payment.

People residing or working in the other country can also avail of this scheme if Canada shares a social security agreement with that country.

Senior citizens can start their OAS payment from the age of 65, but they can delay up to 70 years of age.


As the name suggests, the Guaranteed Income Supplement is for those senior citizens who receive OAS pension payments and have income below a certain level.

To be eligible for a GIS pension, individuals must collect OAS pension payments. GIS will not be received until you start your OAS pension payment.

Likewise OAS pension payment, you have to be a citizen of Canada to avail of GIS pension payment.

Comparing all three pension programs, we find that all three programs have the same eligibility criteria to avail of benefits.

CPP income is a part of your contribution made during your work life while OAS and GIS is a federal government program benefitting all senior citizens residing in Canada.

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