Bill C-261: An Act to amend the Old Age Security Act (amount of full pension)

This bill primarily affects self-employed individuals and small business owners aged 65 and older who continue working while receiving OAS and GIS benefits. Seniors running small operations — whether in trades, consulting, retail, or agriculture — across all provinces would see a higher income exemption ($6,500 instead of $5,000) before their GIS is clawed back, meaning they can earn more from their business or employment without losing benefits. This is particularly relevant for solo operators and part-time workers in any industry who supplement their retirement income with modest self-employment or employment earnings. The increased OAS pension amount also indirectly affects employers with older workers, as it may influence retirement and workforce participation decisions.