Old Age Security Program mortality experience . : IN5-1/17-2016E-PDF

“The OAS basic pension is a monthly benefit available to most Canadians 65 years of age or older, who meet residence and legal status requirements. The OAS basic pension is subject to a repayment amount or recovery tax for those with income exceeding a specified level. The OAS program also includes a Guaranteed Income Supplement (GIS) which is a monthly benefit paid to residents of Canada who receive a full or partial OAS basic pension and who have little or no other income. This study is the third OAS mortality study published by the Office of the Chief Actuary (OCA). Similar to the two preceding OAS mortality studies (Actuarial Studies Nos. 5 and 11), this study excludes OAS benefits paid under international agreements and covers only benefits paid under the domestic OAS program. The availability of an administrative OAS beneficiaries database provided by Service Canada allows a more accurate measurement of the level and trend in mortality experienced by the oldest portion of the Canadian population over the period from 1 January 1999 to 31 December 2013. The longer experience period of this study, relative to its two predecessors provides for the analysis of changes in trends of mortality within the experience period. This study accounts for over 64 million life-years of exposure and about 2,753,000 deaths. The OCA will use the results of this study to assess the mortality characteristics of the overall Canadian population and of OAS program beneficiaries when producing its next triennial OAS Actuarial Report”--Executive summary.

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publications.gc.ca/pub?id=9.825910&sl=1

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