For many years, Canadians have looked forward to retirement at age 65. That is when most people start receiving Old Age Security (OAS) and Canada Pension Plan (CPP) payments. But recent discussions are raising doubts about whether this will continue.
Some reports suggest that the retirement age could increase to 67, leaving many seniors worried about their financial future.
This article explains what is happening, how it may affect seniors, and why it is still just speculation and not an official rule.
Why Are People Talking About Retirement Age Changes?
The idea of saying goodbye to retirement at 65 comes from reports predicting that the Canadian government may increase the retirement age to 67.
Many seniors are concerned because they depend on OAS and Guaranteed Income Supplement (GIS) to manage their daily expenses. Since most Canadians plan their financial life around these benefits, even a small change in age rules can cause stress.
But here’s the good news: there is no official confirmation yet from the government or the Canada Revenue Agency (CRA).
Canada Retirement Age Overview
Here’s a simple table showing the current situation and the rumored changes:
| Department | Canada Revenue Agency (CRA) |
|---|---|
| Managed By | Federal Government of Canada |
| Programs | OAS, CPP, GIS |
| Current Rule | OAS & GIS at 65, CPP flexible 60–70 |
| Rumored Change | Retirement age may increase to 67 |
| Proposed Start | No official date (only speculation) |
| Beneficiaries | Canadian seniors, CPP claimants |
| Official Website | canada.ca |
Will Retirement Age Change To 67?
At the moment, the discussion about raising the retirement age is only a prediction. Some reports suggest OAS might start at 67 instead of 65.
- CPP flexibility: Canadians can claim CPP as early as 60 or as late as 70, which means CPP is less affected by these rumors.
- OAS fixed age: Currently starts at 65. If it shifts to 67, seniors will need to wait two more years.
- GIS impact: Since GIS is linked to OAS, those depending on it could also face delays.
How OAS And CPP Work Today
Here’s how both programs currently operate:
- Canada Pension Plan (CPP): Flexible between 60–70 years old. You can start early with reduced payments or wait longer for bigger payments.
- Old Age Security (OAS): Fixed at 65 years with no early or late option.
- Rumored change: OAS age may increase to 67, but CPP stays flexible.
This means the biggest impact, if changes happen, will be on OAS and GIS beneficiaries.
What Seniors Should Know
- There is no official announcement from the CRA or federal government about raising the retirement age.
- Seniors should continue to plan retirement based on current rules: OAS and GIS at 65, CPP flexible from 60–70.
- It’s better to wait for government updates instead of relying on speculation or online rumors.
The talk about saying goodbye to retirement at 65 has caused confusion and worry among Canadian seniors. While there are reports suggesting the age could increase to 67, nothing has been confirmed by the CRA or the federal government.
For now, retirement benefits remain the same—OAS and GIS start at 65, and CPP offers flexibility between 60 and 70. Seniors are encouraged to focus on the present rules and wait for any official government updates before making big financial decisions.
FAQs
Is the retirement age in Canada officially changing to 67?
No. It is only speculation. The government has not made any official announcement.
Which benefits will be affected if the age changes?
If confirmed, OAS and GIS may shift to 67. CPP will not be affected because it is flexible.
Can I still claim CPP at 60 even if retirement age changes?
Yes. CPP rules remain the same, allowing you to claim between 60 and 70 years.