This means that an individual who starts receiving OAS benefits at the age of 70 will receive 36% (7.2% x 5) more per year for life than if it was taken at age 65. Information is provided 'as is ...

Delaying benefits can also increase payments. CPP benefits increase by 8.4% per year if delayed until age 70. OAS benefits increase by 7.2% annually if deferred until 70. Low-income seniors may ...