CPP Retirement Estimator
CPP — Take at 60,
65, or 70?
Compare your CPP benefit at each start age, see the exact breakeven point, and find out which option wins for your life expectancy.
Updated 2026 · CPP adjustment rates verified · Service Canada
Your CPP options
$
Find this in My Service Canada Account. Max 2026: $1,364.60/mo. Canadian average: ~$815/mo.
yrs
Canadian avg: men ~80, women ~84. Use your best guess based on health and family history.
Age 60 ✓ Best for you
—
per month (−36% from age 65)
Annual—
Years collecting—
Lifetime total—
Age 65 ✓ Best for you
—
per month (standard rate)
Annual—
Years collecting—
Lifetime total—
Age 70 ✓ Best for you
—
per month (+42% from age 65)
Annual—
Years collecting—
Lifetime total—
Breakeven Ages — when waiting starts to pay off
Age 65 beats age 60 starting at:—
Age 70 beats age 65 starting at:—
Age 70 beats age 60 starting at:—
CPP adjustment rates: −0.6%/month before 65 (max −36% at 60), +0.7%/month after 65 (max +42% at 70). CPP is fully taxable. These are pre-tax lifetime totals. Verify your personal estimate at My Service Canada Account (canada.ca).
CPP adjustment rates — age 60 to 70
Each month you take CPP before 65 reduces your benefit permanently by 0.6%. Each month you delay past 65 increases it permanently by 0.7%.
| Start Age | Adjustment | On $900/mo at 65 | Breakeven vs age 65 |
|---|---|---|---|
| 60 | −36% | $576/mo | ~Age 74–75 |
| 62 | −21.6% | $706/mo | ~Age 74 |
| 64 | −7.2% | $835/mo | ~Age 74 |
| 65 | Standard (0%) | $900/mo | Baseline |
| 67 | +16.8% | $1,051/mo | ~Age 80 |
| 68 | +25.2% | $1,127/mo | ~Age 81 |
| 70 | +42% | $1,278/mo | ~Age 82–83 |
The longevity question
The CPP timing decision comes down to one thing: how long will you live? If you live past the breakeven age, waiting pays off. Consider your health, family history, other income sources, and whether you genuinely need the money now. There is no universally correct answer.
2026 CPP Key Numbers
Max monthly benefit at 65: $1,364.60/month ($16,375/year)
Average monthly benefit at 65: approximately $815/month
Maximum at 60 (−36%): $873.34/month
Maximum at 70 (+42%): $1,937.73/month
Log in to My Service Canada Account at canada.ca to see your personal CPP estimate at ages 60, 65, and 70 based on your actual contribution history.
Frequently Asked Questions
Should I take CPP at 60 if I still have other income?
Generally not — if you have employment or other income, adding CPP on top increases your tax burden. Wait until retirement when CPP fills income at a lower effective tax rate. The 36% reduction is permanent, so delaying even to 63 or 64 significantly improves your benefit versus taking it at 60.
Can I work while receiving CPP?
Yes. Under 65: you and your employer must still contribute to CPP. Between 65 and 70: you can opt out of contributions. Either way, additional contributions earn you Post-Retirement Benefits (PRBs) that permanently add to your pension. At 70, all CPP contributions stop.
Is CPP taxable?
Yes, fully. CPP is taxable income in the year received. Many retirees split CPP income with their spouse (up to 50%) to reduce the combined household tax burden. You can apply for CPP pension sharing through Service Canada if both spouses are at least 60.
What is CPP2 and does it affect my estimate?
CPP2 is the enhanced CPP layer covering earnings above the first ceiling. It started phasing in from 2024. If you contributed to CPP2, you will receive additional benefits on top of your base CPP — these are not always reflected in older MyAccount estimates and will be added automatically when you start collecting.