Tools · Retirement

CPP at 60, 65, or 70?

A kitchen-table comparison: run it for your parents, or your own far-horizon plan. Put in an estimated CPP pension at 65 and see the three classic start ages side by side, the exact ages where waiting pays off, and the personal factors that flip the answer in either direction. It compares; it does not pick an age.

Last reviewed: 2026 CPP figuresEducational only: an estimate, not your CPP figure.

You (or the person you're running it for)Default $877.00 is close to the 2026 average new pension ($877.01) canada.ca, verified 2026-09-27. The maximum, $1,507.65 a month (Jan 2026) canada.ca, verified 2026-09-27, takes about 39 years at or above the earnings ceiling; most Canadians get far less. Your own figure is in My Service Canada Account.
Plan to age
An illustrative planning horizon, not a prediction. The lifetime totals run to this age.
Still working between 60 and 70?
Other things that matterPensions, RRIF withdrawals, work income. Used only to check the OAS recovery-tax threshold.

Any of these apply? (optional)

Advanced: invest the difference

CPP figures: 2026; max at 65: Jan 2026 $1,507.65

To age 90, starting at 70 adds up to the most on an estimate of $877.00 a month at 65: $298,882 before tax.

Start at 60

x 0.64 (36.0% less)

Monthly
$561.28
Annual
$6,735.36
Total to age 90
$202,061

Start at 65

x 1 (no adjustment)

Monthly
$877.00
Annual
$10,524.00
Total to age 90
$263,100

Start at 70 most by 90

x 1.42 (42.0% more)

Monthly
$1,245.34
Annual
$14,944.08
Total to age 90
$298,882

Estimate at 65: $877.00. Planning age 90 is an illustrative planning horizon, not a prediction. Change it and the order can flip. Amounts are gross (CPP is taxable) and nominal.

When waiting pays off

CPP figures: 2026; max at 65: Jan 2026 $1,507.65

  • 65 beats 60 if you live past about 74 (exact 73.9).
  • 70 beats 65 if you live past about 82 (exact 81.9).
  • 70 beats 60 if you live past about 78 (exact 78.2).

Fixed reference points: nominal, before tax. In-pay indexation raises the cheque by the same percentage whichever age you start, so comparing nominal amounts is directionally fair. The timing factors are 0.6% less for each month before 65 (up to 36%) canada.ca, verified 2026-09-27 and 0.7% more for each month after (up to 42%) canada.ca, verified 2026-09-27.

How we computed this
  1. Let t be years after 60, and count each start age's payments as a share of the age-65 amount: 0.64 a year from t = 0 for 60, 1 from t = 5 for 65, 1.42 from t = 10 for 70.
  2. 65 vs 60: 0.64t = t − 5, so 0.36t = 5 and t = 13.89 years after 60: age 73.9.
  3. 70 vs 65: t − 5 = 1.42(t − 10), so 0.42t = 9.2 and t = 21.90 years after 60: age 81.9.
  4. 70 vs 60: 0.64t = 1.42(t − 10), so 0.78t = 14.2 and t = 18.21 years after 60: age 78.2.
  5. The estimate cancels out of every equation, so these ages are the same for every benefit size.

Lifetime totals, age 60 to 100

CPP figures: 2026; max at 65: Jan 2026 $1,507.65

  • Start at 60
  • Start at 65
  • Start at 70
  • Breakeven crossing
Lifetime CPP totals by start ageCumulative CPP received from age 60 to 100 for start at 60, start at 65, start at 70. Circles mark where the lines cross: 65 catches 60 at 73.9; 70 catches 60 at 78.2; 70 catches 65 at 81.9.$0$125k$250k$375k$500k6065707580859095100Ageplan to 9073.978.281.9■ Start at 70■ Start at 65■ Start at 60

Circles mark where the lines cross: 65 catches 60 at 73.9; 70 catches 60 at 78.2; 70 catches 65 at 81.9. Totals are nominal and before tax, from your estimate.

Table view (every 5 years)
AgeStart at 60Start at 65Start at 70
60$0$0$0
65$33,677$0$0
70$67,354$52,620$0
75$101,030$105,240$74,720
80$134,707$157,860$149,441
85$168,384$210,480$224,161
90$202,061$263,100$298,882
95$235,738$315,720$373,602
100$269,414$368,340$448,322

Download the chart data (CSV)

What flips the answer

The tool does not pick an age. These are the personal factors that flip the answer, in both directions.

Taking it at 60 can win when

  • You need the money now.
  • Health or family history points to a shorter retirement.
  • You will invest every cheque (the invest-the-difference toggle shows that math).
  • A bigger CPP later would push your income over the $95,323 OAS recovery threshold.
  • The survivor-benefit cap would waste part of a deferred boost.

Waiting to 70 can win when

  • Longevity runs in the family.
  • You keep working between 60 and 70: post-retirement benefits stack on top.
  • You have bridge income: drawing an RRSP from 60 to 70 while CPP waits is the classic tax-smoothing play.
  • You want the largest inflation-indexed cheque for life.

Canadian rules that change the picture

CPP figures: 2026; max at 65: Jan 2026 $1,507.65

Your estimate

The estimate at 65 is the number everything else rests on. The tool times it; it does not build it from your earnings. Drop-out provisions help: up to 8 years of lowest earnings are left out of the base component canada.ca, verified 2026-09-30, and the enhanced component uses your best 40 years canada.ca, verified 2026-09-30. Gaps in your work history hurt less than a straight average suggests.

Months on CPP disability are excluded from the base component and credited at 70% of prior average earnings in the enhanced component. The tool does not compute this; your My Service Canada Account estimate includes it.

Working while collecting

Working while collecting is not wasted. While you receive CPP and are under 70, contributions on work income are mandatory, and each year of them adds a post-retirement benefit of up to $54.69 a month (2026) canada.ca, verified 2026-09-27. From 65 you can elect to stop contributing (form CPT30); at 70 contributions stop canada.ca, verified 2026-09-30. The tool does not add these benefits to the totals above.

OAS clawback

Enter other expected retirement income to check it against the $95,323 OAS recovery-tax threshold (2026 income year) canada.ca, verified 2026-09-27.

OAS is a separate decision with its own deferral: 0.6% more for each month after 65, up to 36% at 70 canada.ca, verified 2026-09-27. The tool does not compute OAS amounts.

Worked examples

The same math on two reference amounts, so the numbers above can be checked by hand.

Worked example · verified 2026-09-30 · Python

2026 maximum: $1,507.65 a month at 65 (Jan 2026 figures; nominal).

  • Start at 60$964.90/mo · $11,578.75/yr
  • Start at 65$1,507.65/mo · $18,091.80/yr
  • Start at 70$2,140.86/mo · $25,690.36/yr
  • Total to 90, start at 60$347,363
  • Total to 90, start at 65$452,295
  • Total to 90, start at 70$513,807

Worked example · verified 2026-09-30 · Python

2026 average new pension: $877.01 a month at 65 (Jan 2026 figures; nominal).

  • Start at 60$561.29/mo · $6,735.44/yr
  • Start at 65$877.01/mo · $10,524.12/yr
  • Start at 70$1,245.35/mo · $14,944.25/yr
  • Total to 90, start at 60$202,063
  • Total to 90, start at 65$263,103
  • Total to 90, start at 70$298,885

Worked example · verified 2026-09-30 · Python illustrative

The 2026 average ($877.01 at 65), taken at 60 and every cheque invested at 5% a year until 65.

  • Cheque at 60$561.29/mo
  • 60 monthly deposits, compounding monthly5% a year
  • Gap versus starting at 65$315.72/mo
  • Pot at 65$38,063
  • Covers the gap for about10 years, ignoring further growth

Illustrative; does not account for tax on the invested cheques.

Next steps

A comparison of start ages from your own estimate, not financial advice and not your official CPP figure. Figures are 2026 and change each year.

Assumptions behind this comparison

  • Your estimate at 65 is taken as entered estimate. The tool times a given estimate; it does not compute a benefit from your earnings history. That is the job of My Service Canada Account and the Canadian Retirement Income Calculator.
  • Whole start years from 60 to 70. Each month before 65 takes 0.6% off (up to 36% at 60) canada.ca, verified 2026-09-27; each month after adds 0.7% (up to 42% at 70) canada.ca, verified 2026-09-27. Waiting past 70 adds nothing canada.ca, verified 2026-09-30.
  • Amounts are nominal and gross. In-pay indexation applies to every start age equally, so it is left out of the comparison. CPP is taxable; no tax is taken off here.
  • The planning age is illustrative. No life-expectancy figures are used or implied.
  • Invest the difference uses end-of-month deposits and an annual return compounded monthly (5% a year works out to about 0.407% a month). It ignores tax on the invested cheques.
  • Quebec: the timing factors are the CPP-legislated ones. Retraite Québec's current QPP factors have not been verified for this tool needs re-verification.
  • Not computed here: post-retirement benefits, survivor pension dollars, OAS amounts and recovery tax, GIS and the Allowance, disability credits, credit splitting, and income tax.

This calculator is education, not advice. It compares start ages in both directions and does not tell you which one to pick.

Sources and dates

Figures checked 2026-09-27 to 2026-09-30 against canada.ca and Service Canada; CPP figures are 2026.

  • CPP early-take reduction: www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • CPP delay boost: www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • Maximum CPP monthly retirement pension at age 65 (new beneficiaries, 2026): www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • Average CPP new monthly retirement pension (July 2026): www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • Maximum CPP post-retirement benefit (monthly): www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • CPP base-component drop-out: years of lowest earnings excludable: www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • CPP enhanced-component: best years of earnings used: www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • CPP child-rearing provision exists: www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • CPP post-retirement contributions: mandatory stop age: www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • No CPP timing benefit past age 70: www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • Combined CPP retirement + survivor's pension: cap rule: publications.gc.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • Maximum CPP survivor's pension, survivor 65+ (Jan 2026): www.canada.ca, verified 2026-09-30 (refresh due 2027-01-01)
  • OAS voluntary deferral boost: www.canada.ca, verified 2026-09-27 (refresh due 2026-10-01)
  • 2026 OAS recovery tax (clawback) start threshold: www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)
  • OAS recovery tax rate: www.canada.ca, verified 2026-09-27 (refresh due 2027-01-01)

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