Should I take CPP at 60 or 65?

Taking it at 60 gives you 36% less every month for life, indexed, and you cannot switch later. If you expect to live past about 74 (at a 0% real return), waiting until 65 pays more in total. If your health suggests otherwise, or you need the income now, 60 can be right. In return you collect five years of payments the person who waits does not.

Is it worth waiting until 70?

Waiting from 65 to 70 raises the pension by 42%, guaranteed and indexed for life. In total dollars it wins if you live past about 82, close to the average life expectancy at 65. The real advantage is insurance against a long life. The cost is five years of living on other savings.

What is the maximum CPP in 2026?

$1,507.65 a month for a pension starting at 65 in January 2026. Most people get less, because the maximum needs contributions at or above the earnings ceiling for about 39 years. The average new pension at 65 was $877.01 in April 2026. Your own estimate is in My Service Canada Account.

Does CPP go up with inflation after I start?

Yes. CPP is indexed to the Consumer Price Index every January (2.0% in 2026). That is why the calculator works in today's dollars. The age adjustments (0.6% and 0.7% per month) are on top of indexing.

What if I keep working after starting CPP?

You keep contributing, mandatory under 65 and optional from 65 to 69. Each year of contributions buys a post-retirement benefit added to your pension, up to $54.69 a month in 2026 per year at the maximum. Contributions stop at 70.

What does this calculator not include?

The drop in your age-65 amount if you stop working before 65 with low-earning years (the general drop-out provision softens this). The child-rearing and disability drop-outs. Income tax on the pension. The effect on OAS, GIS and other income-tested benefits. Survivor benefits, and QPP differences.

How do I find my CPP estimate?

Sign in to My Service Canada Account and open your CPP statement of contributions. It shows the monthly amount at 65 in today's dollars, assuming you keep contributing at your current level. If you cannot get it, the estimate mode uses your years worked and earnings level.

Will my CPP estimate go down if I retire early?

It can. The statement assumes you keep contributing until 65. If you stop at 58, the years from 58 to 65 are zero-earning years. They count against you after the 17% drop-out, so the real amount at 65 is lower. Enter your stop-work age to approximate the effect.

Does the break-even age include investing the early payments?

By default no, it compares plain totals. Enter a real return above 0% to give the early starter credit for investing the payments. A 3% real return pushes every break-even a few years later, typically from about 74 to 77 or beyond.

CPP at 60 vs 65 vs 70: Start Age Calculator

See your CPP at every start age from 60 to 70. It shows the age you must live past for waiting to pay off, and which start collects the most if you live to the age you expect. Use the estimate from your Service Canada account, or let it estimate from your years worked.

Waiting to 65 wins if you live past 73.8$576.00 · $900.00 · $1,278.00Per month if you start at 60, 65 or 70, for life and indexed to inflation. Waiting from 65 to 70 pays more if you live past 81.8. If you live to 85, starting at 69 collects the most in total ($230,861).

Monthly CPP by start age

Start at	Monthly	vs 65	Total by 80	Total by 85
60	$576.00	-36.0%	$138,240	$172,800
61	$640.80	-28.8%	$146,102	$184,550
62	$705.60	-21.6%	$152,410	$194,746
63	$770.40	-14.4%	$157,162	$203,386
64	$835.20	-7.2%	$160,358	$210,470
65	$900.00	+0.0%	$162,000	$216,000
66	$975.60	+8.4%	$163,901	$222,437
67	$1,051.20	+16.8%	$163,987	$227,059
68	$1,126.80	+25.2%	$162,259	$229,867
69	$1,202.40	+33.6%	$158,717	$230,861
70	$1,278.00	+42.0%	$153,360	$230,040

Start at 60$172,800 by 85

Start at 63$203,386 by 85

Start at 65$216,000 by 85

Start at 67$227,059 by 85

Start at 70$230,040 by 85

Things people get wrong. The cut for starting early is permanent, not a temporary discount. The $1,507.65 maximum takes about 39 years at the earnings ceiling. Most people get closer to the $877.01 average. CPP is taxable income. If you stop working before 65, the estimate on your statement can fall, because years with no earnings get added. The "stop working" input is a rough stand-in for that.

Show the math

Monthly at age A = amount at 65 × (1 − 0.6% × months before 65), or × (1 + 0.7% × months after 65). Totals add every payment from the start age, in today's dollars (CPP is indexed to the CPI each January). A real return above 0% discounts later payments. The break-even is the first age where the later start's total catches up. The estimate scales the 2026 maximum by years contributed ÷ 39 (47 contributory years less the 17% drop-out) and by your average earnings as a share of the ceiling. Not modelled: the post-retirement benefit from working after 60, child-rearing and disability drop-outs, survivor benefits, taxes, and OAS and GIS interactions (see the CPP and OAS planner).

How this calculator works

CPP can start any month from age 60 to 70. The amount is set once, from your age-65 entitlement, and adjusted for when you start:

Before 65: minus 0.6% for every month, so 36% less at 60.
After 65: plus 0.7% for every month, so 42% more at 70.

The pension is then indexed each January for life. The calculator applies the adjustment for each start age and adds up the monthly payments to each milestone age, in today’s dollars.

The break-even age is when the total from starting later catches up with the total from starting earlier. Live past it and the later start wins.

Worked example: $1,000 a month at 65, plan to age 85

Start age	Monthly	Total by 75	Total by 85
60	$640.00	$115,200	$192,000
65	$1,000.00	$120,000	$240,000
70	$1,420.00	$85,200	$255,600

At a 0% real return, the break-even age is 73.8 for 60 vs 65, 81.8 for 65 vs 70, and 78.2 for 60 vs 70. If you expect to reach 85, starting at 70 collects the most.

Assumptions

Your age-65 amount is taken as given. If you will stop working before 65, use the estimate for your planned retirement date.
A 0% real return treats a dollar at 60 and a dollar at 80 as equal. Enter a real return if you would invest early payments.
Taxes, OAS and GIS interactions, survivor benefits and the post-retirement benefit are outside the comparison.
QPP (Quebec) uses the same 0.6% and 0.7% adjustments but different maximums. The age math applies to QPP too.

How to apply for CPP

CPP is never automatic. Apply about six months before the month you want the first payment, any time from age 60.

Check your Statement of Contributions in My Service Canada Account. It shows your estimated pension at 65 and lets you correct missing years.My Service Canada Account ↗
6 months before your start monthApply online in the same account (about 15 minutes), or mail form ISP-1000. Choose the month you want payments to start. You can pick a date up to 12 months ahead.Apply for the CPP retirement pension ↗
If you stopped work to raise children under 7, claim the child-rearing provision in the application. It drops low-earning years and raises the pension.Child-rearing provision ↗
Quebec workers apply to Retraite Québec for the QPP instead. The rules and ages are the same.Retraite Québec: applying for your QPP pension ↗
If you keep working after 65 while collecting, decide whether to keep paying CPP (form CPT30 stops it). Contributions after 65 add a post-retirement benefit.Form CPT30 ↗

You may also qualify for

Old Age Security ↗ Separate from CPP. See the OAS steps on the retirement planner.

Common questions

Frequently asked questions

Should I take CPP at 60 or 65?: Taking it at 60 gives you 36% less every month for life, indexed, and you cannot switch later. If you expect to live past about 74 (at a 0% real return), waiting until 65 pays more in total. If your health suggests otherwise, or you need the income now, 60 can be right. In return you collect five years of payments the person who waits does not.
Is it worth waiting until 70?: Waiting from 65 to 70 raises the pension by 42%, guaranteed and indexed for life. In total dollars it wins if you live past about 82, close to the average life expectancy at 65. The real advantage is insurance against a long life. The cost is five years of living on other savings.
What is the maximum CPP in 2026?: $1,507.65 a month for a pension starting at 65 in January 2026. Most people get less, because the maximum needs contributions at or above the earnings ceiling for about 39 years. The average new pension at 65 was $877.01 in April 2026. Your own estimate is in My Service Canada Account.
Does CPP go up with inflation after I start?: Yes. CPP is indexed to the Consumer Price Index every January (2.0% in 2026). That is why the calculator works in today's dollars. The age adjustments (0.6% and 0.7% per month) are on top of indexing.
What if I keep working after starting CPP?: You keep contributing, mandatory under 65 and optional from 65 to 69. Each year of contributions buys a post-retirement benefit added to your pension, up to $54.69 a month in 2026 per year at the maximum. Contributions stop at 70.
What does this calculator not include?: The drop in your age-65 amount if you stop working before 65 with low-earning years (the general drop-out provision softens this). The child-rearing and disability drop-outs. Income tax on the pension. The effect on OAS, GIS and other income-tested benefits. Survivor benefits, and QPP differences.
How do I find my CPP estimate?: Sign in to My Service Canada Account and open your CPP statement of contributions. It shows the monthly amount at 65 in today's dollars, assuming you keep contributing at your current level. If you cannot get it, the estimate mode uses your years worked and earnings level.
Will my CPP estimate go down if I retire early?: It can. The statement assumes you keep contributing until 65. If you stop at 58, the years from 58 to 65 are zero-earning years. They count against you after the 17% drop-out, so the real amount at 65 is lower. Enter your stop-work age to approximate the effect.
Does the break-even age include investing the early payments?: By default no, it compares plain totals. Enter a real return above 0% to give the early starter credit for investing the payments. A 3% real return pushes every break-even a few years later, typically from about 74 to 77 or beyond.

Sources

Every figure on this page comes from one of these primary sources. Data last verified September 7, 2026.

Put this calculator on your own website

Free for brokers, accountants, advisors and bloggers. Paste this where you want the calculator. It sizes itself and credits GlassLayer with a link. The embed page has the terms and every calculator.

<iframe src="https://glasslayer.ca/embed/cpp-start-age-calculator" title="CPP at 60 vs 65 vs 70: Start Age Calculator" style="width:100%;border:0;min-height:900px" loading="lazy"></iframe>
<script>addEventListener('message',e=>{if(e.data&&e.data.type==='glasslayer-embed-height'){document.querySelectorAll('iframe[src*="/embed/"]').forEach(f=>{if(f.contentWindow===e.source)f.style.height=e.data.height+'px'})}})</script>

Data verified for tax year 2026: September 7, 2026 Updated September 7, 2026 By Nishant Malik, founder of GlassLayer