See how much your Canada Pension Plan retirement pension would be if you start it early or late, how much you would receive in total, and the age at which waiting pays off.
Monthly pension starting at 65$1,000.000.0% vs. age 65
Total received to age 90
$300,000today’s dollars
Break-even 60 vs 65
73.9age
Break-even 65 vs 70
81.9age
Starting age compared
Start at
Monthly
Yearly
Total to 90
60
$640.00
$7,680
$230,400
62
$784.00
$9,408
$263,424
65
$1,000.00
$12,000
$300,000
67
$1,168.00
$14,016
$322,368
70
$1,420.00
$17,040
$340,800
The maximum CPP retirement pension at 65 in 2026 is $1,507.65 a month; the average new pension is much lower.
Amounts are in today’s dollars: CPP is indexed to inflation each January, so the comparison holds in real terms. Taxes and survivor benefits are not included.
This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency.
How the adjustment works
Your CPP at 65 depends on how long and how much you contributed. Starting earlier or later changes it permanently:
Before 65: −0.6% per month, down to −36% at 60.
After 65: +0.7% per month, up to +42% at 70.
The pension is indexed to the consumer price index every January, so the comparison holds in today’s dollars.
Worked example: $1,000 a month at 65
Estimated pension $1,000 a month at 65, planning to age 90
At 60 the pension would be $640 a month; at 70, $1,420. The break-even between 60 and 65 is about age 73.9, and between 65 and 70 about age 81.9.
Monthly pension starting at 65$1,000.000.0% vs. age 65
Total received to age 90
$300,000today’s dollars
Break-even 60 vs 65
73.9age
Break-even 65 vs 70
81.9age
Starting age compared
Start at
Monthly
Yearly
Total to 90
60
$640.00
$7,680
$230,400
62
$784.00
$9,408
$263,424
65
$1,000.00
$12,000
$300,000
67
$1,168.00
$14,016
$322,368
70
$1,420.00
$17,040
$340,800
What to weigh besides break-even
Health and family longevity. If you expect to live past your mid-80s, waiting usually pays more in total.
Other income. Delaying CPP while drawing down an RRSP can smooth taxable income and reduce Old Age Security clawback later.
Survivor benefits are based on the contributor’s pension, so delaying can increase what a spouse receives.
Working while receiving CPP before 65 means you keep contributing and earn post-retirement benefits.
2026 figures
The maximum retirement pension at 65 is $1,507.65 a month for pensions starting in 2026, up from $1,433.00 in 2025, reflecting the gradual CPP enhancement and indexation.
Questions people ask
How much less is CPP at 60?
The pension is reduced by 0.6% for each month before 65 — 36% less if you start at 60.
How much more is CPP at 70?
It increases by 0.7% for each month after 65 — 42% more at 70. There is no benefit to waiting beyond 70.
What is the maximum CPP in 2026?
$1,507.65 a month at 65 for a pension starting in 2026. Most people receive less; the average new pension is under $950.
When does waiting pay off?
Ignoring investment returns and taxes, starting at 65 rather than 60 catches up at about age 74, and starting at 70 rather than 65 catches up at about age 82.
Does QPP work the same way?
Quebec's QPP uses its own adjustment rules and, since 2024, allows starting as late as 72. Use Retraite Québec's tools for QPP.
This is an estimate based on published rates, not tax or financial advice. Your payslip or assessment may differ. We are an independent site, not affiliated with any government agency. Read the full disclaimer.
