June 2017: Old Age Security can be applied for as early as age 65, but if you are still working, you may decide to defer applying until age 70 so that your indexed lifetime benefit continues to grow. This may be especially beneficial if your continuing employment income subjects you to the dreaded ‘OAS clawback” which starts taxing you 15% of your benefit once your income reaches $119,615. Talk to your financial planner about tax strategies including splitting your RRIF and pension income or sharing CPP with a spouse, which may put and keep more money in your pocket.