CPP Calculator 2026: When Should You Start?
See how much your Canada Pension Plan pension is if you start it at 60, 65 or 70, and how long you’d need to live for waiting to pay off.
Your CPP pension
$858.34 a month
$257,502.00 in total to age 90, in today’s dollars
| Start at | Per month | Total to 90 |
|---|---|---|
| 60 | $549.34 | $197,762.40 |
| 65 | $858.34 | $257,502.00 |
| 70 | $1,218.84 | $292,521.60 |
Starting at 70 instead of 65 pays more in total if you live past about 81 years and 11 months.
Calculated in your browser. Your numbers never leave your device.
How this is calculated
- Start before 65: your pension at 65 is reduced by 0.6%for each month early: 36% less at 60.
- Start after 65: it’s increased by 0.7% for each month you wait: 42% more at 70. Waiting past 70 adds nothing.
- Totals are the monthly pension × the number of months from your start age to the age you plan for. CPP rises with inflation every January, so we show everything in today’s dollars.
- Break-even age is when the later start has paid the same total as the earlier one. It doesn’t depend on how big your pension is.
CPP break-even ages
| Choosing between | Waiting pays off if you live past about |
|---|---|
| 60 or 65 | 73 years and 11 months |
| 65 or 70 | 81 years and 11 months |
| 60 or 70 | 78 years and 3 months |
These ages are the same for everyone, because the 0.6% and 0.7% adjustments apply to every pension equally. What differs from person to person is how likely you are to live past them.
Worked example: the average CPP pension
Using the average pension at 65 of $858.34 a month:
| Start at | Per month | Total to 85 | Total to 90 |
|---|---|---|---|
| 60 | $549.34 | $164,802.00 | $197,762.40 |
| 65 | $858.34 | $206,001.60 | $257,502.00 |
| 70 | $1,218.84 | $219,391.20 | $292,521.60 |
Starting at 60 gives you five extra years of payments, but each one is 36%smaller for life. By 85, waiting until 70 has paid $13,389.60 more than starting at 65; by 90 the gap is $35,019.60.
What this calculator assumes
- Amounts are in today’s dollars. CPP is indexed to inflation, so its buying power stays about the same.
- It doesn’t count investment growth on early payments, or what you’d draw from savings while waiting. If you’d invest early CPP or spend less of your savings, starting early looks a little better.
- It’s before income tax. CPP is taxable income.
- It covers the retirement pension only: not Old Age Security, the post-retirement benefit for working while receiving CPP, survivor benefits, or pension sharing with a spouse.
- Start ages are in whole years; CPP itself can start in any month from 60 to 70.
Frequently asked questions
What is the maximum CPP payment in 2026?
The maximum CPP retirement pension for someone starting at 65 in January 2026 is $1,507.65 a month. Starting at 60 cuts that to $964.90; waiting to 70 raises it to $2,140.86. Few people get the maximum: it takes many years of contributions on earnings at or above the CPP ceiling.
How much CPP does the average person get?
The average CPP retirement pension for people starting at 65 was $858.34 a month (July 2026). Your own amount depends on how much and how long you contributed. Your estimate is in your Statement of Contributions in My Service Canada Account.
How much less is CPP if I take it at 60?
Your pension drops 0.6% for every month before 65, so it's 36% less if you start at 60. For an average pension that's $549.34 a month instead of $858.34, and the reduction is permanent.
How much more is CPP if I wait until 70?
It rises 0.7% for every month after 65, so it's 42% more at 70. An average pension becomes $1,218.84 a month. There's no benefit to waiting past 70.
Does CPP go up with inflation?
Yes. CPP payments are raised every January by the change in the Consumer Price Index, and they never go down. For 2026 the increase was 2%. That's why this calculator shows amounts in today's dollars.
What is the CPP break-even age?
It's the age at which starting later has paid you as much in total as starting earlier. Comparing 65 with 60, it's about 73 years and 11 months; comparing 70 with 65, about 81 years and 11 months. If you expect to live past the break-even age, waiting pays more over your lifetime.
Is it better to take CPP early or late?
Waiting usually pays more if you are healthy, have other money to live on in the meantime, and expect to live into your 80s. Starting early can make sense if your health is poor, you need the income now, or delaying would mean drawing down savings you would rather keep. The break-even age is a starting point, not the whole decision.
Rates for tax year 2026 · Last updated