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old age security goes up for the first time in almost 50 years hey everyone angelo mancios behindthevault.net today were going to talk about the increase in old age security and how thats going to affect you lets go behind the vault [Music] so old age security is one of three government pensions that canadians are entitled to at retirement so heres how you qualify all these securities actually based on residency not number of years that youve worked what they look at is how many years were you a resident of canada after the age of 18. if you were a resident for 40 years or more youre going to qualify for the maximum benefit whatever it may be in that year if youve been canada less than 40 years then what they do is they just take the number of years and they divide it by 40 to give you a percentage so lets say youve been in canada 20 years youll be entitled to half of the old age security benefit if youve been in canada 10 years youll be entitled to one quarter of the old
