📅 CPP Timing Calculator
Starting CPP at 60 cuts it by 36% for life. Waiting until 70 raises it by 42%. There is no universally right answer — it depends on how long you live and what else you have. Here is your version of the math.
Your numbers
Get your real number from My Service Canada Account — it is based on your actual contribution history.
Canadian life expectancy at 65 is roughly age 84 for men and 87 for women. Family history and health matter more than the average.
Living to 85, starting at 69 pays the most in total
That is $15,279 more over your lifetime than starting at 65 — $1,236 a month instead of $925.
Start at 60
$592
per month, for life
- Adjustment
- -36.0%
- Per year
- $7,107
- Total to 85
- $177,667
Start at 65
$925
per month, for life
- Adjustment
- 0.0%
- Per year
- $11,104
- Total to 85
- $222,084
Start at 70
$1,314
per month, for life
- Adjustment
- +42.0%
- Per year
- $15,768
- Total to 85
- $236,519
When waiting catches up
Starting later means fewer, bigger cheques. These are the ages where the bigger cheques overtake the head start.
- Waiting to 65 beats starting at 60 from age
- 73 years 11 months
- Waiting to 70 beats starting at 65 from age
- 81 years 11 months
Total received by age
Dashed line marks your life expectancy. Where the lines cross is the break-even point.
What the break-even math misses
- Deferring is insurance, not an investment. The real risk in retirement is living longer than your money. A bigger indexed cheque for life protects against exactly that, which is worth something even if you die before break-even.
- GIS changes everything at low incomes. If you expect to receive the Guaranteed Income Supplement, taking CPP early can reduce it dollar-for-dollar. Some lower-income Canadians are better off drawing down RRSPs first and deferring CPP to 70.
- OAS clawback interacts with it. CPP counts toward net income, and OAS starts being clawed back above $95,323. A larger deferred CPP can push you over that line.
- Still working before 65? You must keep contributing to CPP while collecting it, though those contributions build post-retirement benefits.
- Health and family history beat averages. A serious health condition is the strongest argument for taking it early. Long-lived parents are the strongest argument for waiting.
Figures use 2026 CPP amounts and are shown in today’s dollars, since CPP is indexed to inflation. Estimates for educational purposes only — get your actual entitlement from My Service Canada Account and consult a financial professional for personalized advice.