Joseph lives with his wife in Quebec. He is 67 years old and is retired. His income in 2022 is $97,000 and he is concerned about the Old Age Security (OAS) pension claw-back when he files his 2022 tax return next week. Joseph knows that in 2022, if his income exceeds the threshold amount of $81,761, he has to repay part or all of his OAS pension on his tax return. This could result in a very large lump sum to repay. Joseph also knows that the formula for the OAS claw-back or repayment calculation is based on the difference between his income and the threshold amount for the year with a 15% repayment on that differential.