How much could you receive
The value of each Post-Retirement Benefit is based on:
- the amount of your earnings and contributions the previous year; and
- your age as of January 1st of the year the Post-Retirement Benefit starts
Note:
Each year of contributions while collecting a retirement pension will generate a new Post-Retirement Benefit, which is added to your total income from the Canada Pension Plan (CPP). This means a single individual who continues to work can receive multiple Post-Retirement Benefits at the same time.
The maximum Post-Retirement Benefit amount is equal to 2.5% (1/40th) of the maximum CPP retirement pension. This is because the Post-Retirement Benefit is generated by a single year’s contributions, rather than all the contributions you made from age 18 until you started collecting your pension.
| Type of pension or benefit | Average amount for new beneficiaries (January 2023) | Maximum payment amount (2023) |
|---|---|---|
| Retirement pension (at age 65) | $811.21 | $1,306.57 |
| Post-retirement benefit (at age 65) | $5.48 | $40.25 |
You can get an estimate of your Post-Retirement Benefit amount by using the Canadian Retirement Income Calculator (CRIC).
In 2023, the maximum new Post-Retirement Benefit for someone aged 65 is $40.25, reflecting someone who reached the CPP earnings limit and made maximum contributions in 2022. The amount of your Post-Retirement Benefit will correspond to the amount of your earnings and contributions in the year. For example, if your earnings were half of the maximum earnings limit, you will receive a Post-Retirement Benefit that is half of the maximum ($20.13).
Note:
If you work in the same year that your retirement pension begins, we will determine:
- which portion of that year's contributions will go toward the retirement pension
- which portion, if any, will go toward the Post-Retirement Benefit
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