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Sumit knows about the Old Age Security (OAS) pension clawback but is unsure how to calculate it for him and his wife. In 2021, the
Sumit knows about the Old Age Security (OAS) pension clawback but is unsure how to calculate it for him and his wife. In 2021, the OAS pension is clawed-back or reduced by 15% above $79,845. Sumit and his wife are both receiving monthly pensions of $615.38. His net income is $130,000 while his wife's net income is $82,000. What is the total amount they have to repay in 2021? Minimum Recovery Threshold $79,845 Maximum Recovery Gre reshold 129.075 A $7,061.25 B $7,707.75 C $7,384.50 D $14,769.00 E $13,833.00
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