Old Age Security (OAS) is a government program in Canada that provides financial support to seniors aged 65 and older. It aims to help older adults maintain a basic standard of living. The amount received can vary based on factors like residency and income. OAS is funded through general tax revenues and is not based on individual contributions. Eligible seniors can receive monthly payments, which may be supplemented by other benefits, such as the Guaranteed Income Supplement (GIS) for those with low income. This program plays a crucial role in reducing poverty among the elderly population.