Old Age Security pension - At the age of 65If you have reached the age of 65 years during the tax year, in the month following your 65th birthday, you are entitled to receive the payments for the OAS (Old age security) pension, provided that you have made the request.
However, since July 2013, you can defer the first payment of your Old Age Security pension for up to 60 months (5 years).
If you choose to defer your OAS, you will receive a higher amount that is 0.6 % for each month you defer the payment of your pension.
For more information on this topic, please visit the following link:
https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/before-applying.html
To enter your pension income, please follow the following procedure:
1 - On the "Left side menu on the Interview tab", select "Interview setup";
2 - On the right-hand side of the screen, go to the "Pension" group, check the box for "Pension income, other income and split pension income, (T4A, T4A(OAS), T4A(P)., T4A-RCA, T4RSP, T4RIF, T1032)"and click "Next" at the bottom of the page ;
3 - Return to the "Left side menu on the Interview tab" and select "T4A and Pension income" and on the screen to your right select "T4A(OAS) - Old age security pension income" ;
4 - On the page that appears, enter the information from your T4A (OAS) slip.
The amount in box 18 of your T4A (OAS) will be reported by the program to line 11300 of the federal return and to line 114 of the Quebec return.
If you entered an amount in box 21, it will be reported by the program to line 14600 of the federal return and on line 148 of the Quebec return.
ID: 20191202124235NA.xml
Webpage: KPA375-20191202124235NA.htm