CPP Retirement Pension Calculator
Estimate your CPP retirement pension based on when you start collecting. This calculator shows how early or late CPP claiming affects your monthly benefit with the 0.6% per month reduction before 65 and 0.7% increase after 65.
Regional Rule Context
Canada Rates and Rules
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Choose any age from 60 to 70
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CPP retirement pension estimator for 2026. The maximum CPP retirement pension at age 65 is $1,364.60/month. Taking CPP early (age 60) reduces the pension by 0.6% per month (36% at 60). Deferring to age 70 increases it by 0.7% per month (42% at 70). The breakeven between starting at 60 vs 65 is roughly age 74. Between 65 vs 70, breakeven is roughly age 81.
Disclaimer: This calculator uses publicly available rules effective as of Jan 1, 2025 (version 1.0). Results are for informational purposes only. Always verify with official sources or a qualified professional. Last reviewed: Mar 1, 2026.
Formula
CPP reduces your pension by 0.6% for each month you start before age 65 (36% total reduction at age 60). It increases by 0.7% for each month you delay past 65 (42% total increase at age 70). The maximum monthly benefit at age 65 in 2025 is $1,364.60.
Canada FAQs
How much is the maximum CPP pension at 65?
The maximum monthly CPP retirement pension for 2025 is $1,364.60. Most Canadians receive less than the maximum because it requires contributing at or near the maximum for approximately 39 years. The average monthly payment is roughly $815.
How much is CPP reduced if I start at 60?
CPP is reduced by 0.6% for each month before age 65. Starting at exactly 60 (60 months early) results in a 36% permanent reduction. On a $1,000/month pension at 65, you would receive $640/month starting at 60.
How much more do I get by waiting until 70?
CPP increases by 0.7% for each month you delay past 65. Waiting until 70 (60 months late) provides a 42% permanent increase. A $1,000/month pension at 65 becomes $1,420/month at 70. There is no benefit to delaying past age 70.
What is the breakeven age between starting early and late?
The breakeven between starting at 60 vs 65 is approximately age 74: before 74, you are ahead by taking CPP at 60 (more total payments). After 74, the higher monthly amount at 65 catches up. Between 65 and 70, breakeven is roughly age 81.
Can I still work while receiving CPP?
Yes. You can receive CPP while working. If you are under 65 and receiving CPP, you and your employer must continue making CPP contributions. If you are 65-70, contributions are optional (but increase your pension via the Post-Retirement Benefit). After 70, contributions stop.
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