Infographic: Canada Pension Plan turns 60!

Canada Pension Plan turns 60!

• 1966
  • The Canada Pension Plan (CPP) begins, and Canadians start contributing
• 1974
  • Introduction of indexation: Benefits start increasing each year to keep up with the rising cost of living
• 1975
  • Survivor benefits are made equally available for men and women
• 1976
  • The phase‑in is complete and Canadians begin receiving full CPP retirement pensions
• 1987
  • Canadians are given flexibility to take a reduced pension as early as age 60 or an increased pension for deferring up to age 70
• 1998
  • Major changes made to keep the CPP sustainable. These include creating the CPP Investment Board to manage funds not needed for current benefits
• 2000
  • Same-sex common-law partners become eligible for CPP survivor benefits
• 2002
  • The online Canadian Retirement Income Calculator is introduced to help Canadians plan for retirement
• 2012
  • The Post‑Retirement Benefit is introduced: CPP pensioners under age 70 who work can increase their retirement income by continuing their contributions
• 2013
  • The CPP reaches maturity: New beneficiaries have contributed to the plan for their entire working lives
• 2015
  • A new and improved Canadian Retirement Income Calculator is released to help Canadians plan for retirement
  • Most Canadians can now apply online for their retirement pension
• 2016
  • Federal and provincial finance ministers agree to strengthen the CPP, and law is passed to put the changes in place
• 2019 to 2025
  • The CPP enhancement is phased in. Over time, it will gradually increase the income replacement of the retirement pension from 25% to 33.33% of covered pre-retirement earnings and increase the limit on covered earnings. Together, these changes will increase the maximum retirement pension by more than 50% for Canada's youngest workers
• 2023
  • The Retirement Hub is introduced: a simple, user-friendly online tool that helps Canadians plan for their retirement using personalized checklists and guides

Canada Pension Plan

1966 to 2026

60th Anniversary of the CPP