OAS application (Service Canada)
You can apply up to 11 months before you want payments to start. Apply for OAS at 65 unless you are deliberately deferring.
Service Canada: OAS →Stage · Planning your retirement in Canada
Drawing down in retirement
The decision tree: which account to pull from first, when to start CPP and OAS, and how to stay under the OAS clawback threshold if relevant.
What to do this week
- Map your first five years of withdrawals by account (RRIF / RRSP, TFSA, non-registered, pension, CPP, OAS). Order matters for lifetime tax.
- Check the OAS clawback threshold ($90,997 net income for 2026). Every dollar of net income above the threshold claws back 15 cents of OAS.
- Set up automatic withdrawals from your RRIF to hit the minimum and avoid forced lump sums in December.
What to avoid
- Pulling only from the RRIF while TFSA and non-registered sit idle. Flat-lining taxable income wastes low-tax-bracket years.
- Ignoring pension income splitting. Up to 50% of eligible pension income can shift to a lower-income spouse at age 65.
- Forgetting medical and travel insurance changes at 65. Some employer coverage ends.
Calculators for this stage
Forms to file at this stage
Frequently asked
What is the OAS clawback?
For 2026, OAS is reduced by 15 cents per dollar of net income over $90,997. At around $148,451 net income (age 65-74) OAS is fully clawed back. Thresholds change annually.
RRIF versus RRSP withdrawals?
You must convert RRSP to RRIF by end of the year you turn 71. RRIF has minimum withdrawal percentages by age. You can convert earlier if withdrawing at lower-tax-bracket years helps.
Can I split pension income with my spouse?
Yes. Up to 50% of eligible pension income (including RRIF income after age 65) can be split. The low-income spouse reports the shifted portion at their lower marginal rate.
Next stage
Estate planning →