Usually, OAS and CPP on their own do not provide sufficient income to support the lifestyles of most individuals.

Question

Quizplus · Accepted Answer

OAS (Old Age Security) and CPP (Canada Pension Plan) are government-provided pensions in Canada, but they are designed to supplement retirement income rather than provide for all expenses. Most individuals will need additional sources of income, such as personal savings, employer pensions, or other investments, to support their desired lifestyle in retirement.

Usually, OAS and CPP on Their Own Do Not Provide