<P> Old Age Security should not be confused with the Canada Pension Plan, which is a contributory, earnings - related pension paid in addition to the OAS to those who have contributed to it . </P> <P> Canada is the only G7 nation (and one of the few OECD nations) that does not have a plan to adapt to rising life expectancy by raising the age of eligibility of its public retirement program . According to the government's own estimates, raising the age of eligibility by two years would reduce federal expenditures in 2030 by $10.8 billion . </P>

Who is entitled to canada old age pension