Old Age Security provides sufficient income to support the lifestyles of most individuals.

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Old Age Security (OAS) is a basic income program funded by the federal government of Canada. It is designed to provide a modest income to Canadian seniors who have reached the age of 65 and meet the residency requirements. However, for most seniors, OAS alone is not sufficient to cover all their living expenses. OAS is also taxable, so recipients may owe taxes on their benefit payments depending on their other sources of income. Therefore, most individuals will need additional sources of income, such as the Canada Pension Plan (CPP), private savings, and employer pensions, to support their lifestyles in retirement.

Old Age Security Provides Sufficient Income to Support the Lifestyles