Other sources of retirement income: Old Age Security and the Canada Pension Plan

The Old Age Security (OAS) and the Canada Pension Plan (CPP) are the two federal public pensions in Canada. In addition to your UBC SPP pension and your personal savings, these government-administered pension programs are important sources of retirement income.

OAS is a universal program that provides income to Canadians when they reach age 65. Eligibility depends only on the period of residency in Canada. Generally at least 10 years of residency is required for any benefit. Unlike CPP, OAS is available only at age 65 or later.

The CPP is funded by both employees and employers. You and UBC (or related employer) make contributions to the CPP. In order to qualify for CPP, you must be at least 60 years of age, and you must have made at least one valid contribution during your working years.

Learn more about OAS and CPP by visiting the Government of Canada website, and by reading the SPP Details info sheet on Canada Pension Plan Retirement Income.