What age to start your CPP retirement pension

It’s your choice

You can start your CPP retirement pension anytime after 60 years of age. The longer you wait the more money you will get each month. However, there is no financial advantage to waiting past the age of 70.

When to start

The best age to start collecting your CPP retirement pension depends on your personal situation. Your health, financial situation and retirement plans should influence your decision on what age to start your CPP payments.

Estimate how much you could get

The amount you get depends on:

  • How long you paid into the CPP
  • How much you paid into the CPP
  • What age you start your CPP retirement pension

The CPP is not meant to cover all your retirement income needs. It provides a modest financial base, along with Old Age Security and your personal savings.

See how much you contributed to the CPP

Log in or register for My Service Canada Account (MSCA) to view your CPP information.

Estimate how much CPP you could get

Use the Canadian Retirement Income Calculator to estimate your retirement income from various sources.

Figure 1: Example of starting your CPP retirement pension at different ages if your CPP pension at age 65 would be $691.93

Note: The average new CPP retirement pension (at age 65) was $691.93 in January, 2018. The maximum CPP retirement pension (at age 65) in 2018 is $1,134.17.

Text description of Figure 1 - Example of how much you could get in CPP pension at different ages if your CPP pension at age 65 was $691.93
Example of how much you could get in CPP pension at different ages if your CPP pension at age 65 was $691.93
Age at which the pension starts Monthly pension amount
60 $443
61 $493
62 $542
63 $592
64 $642
65 $692
66 $750
67 $808
68 $866
69 $924
70 $983

New change to the CPP

Starting in January 2019, working Canadians contribute a little more to get higher CPP benefit payments when they retire. These changes in CPP contributions are being phased in gradually over seven years in small increases. Enhanced benefits will grow over time as Canadians work and contribute to the CPP enhancement, with each year of contributions resulting in a higher benefit.  Eligibility for CPP benefits stays the same.

Learn more

Video

The CPP retirement pension — How it works

Video transcript of The CPP retirement pension — How it works

Canadians are living longer.

In fact, you could spend more than 30 years in retirement.

So it’s important to know how you’ll fund it, and how the Canada Pension Plan (CPP) retirement pension can help.

If you worked in Canada between the ages of 18 and 70

and you paid

into the CPP, you’re eligible for the retirement pension.

The more you worked, earned, and contributed, the more you’ll get.

The standard age to start receiving your retirement pension is 65. But you can choose to take it any time after you reach age 60. The later you take it, the more money you’ll get each month. In fact, you could more than double your pension if you wait the 10 years until age 70.

Once you start receiving your pension, it will give you monthly payments for the rest of your life. These payments increase each year with the cost of living.

The CPP isn’t meant to meet all your financial needs in retirement. It works with Old Age Security to provide a modest financial base that you can build on with your savings and other income.

So, how much will you receive from the CPP?

You can get an estimate of what your monthly CPP payment will be through your My Service Canada Account.

You can also use the Canadian Retirement Income Calculator to get an estimate of your overall retirement income.

For more information on the CPP and to apply online visit canada.ca/cpp.