Free, educational Canadian retirement tools · figures reviewed October 30, 2026Part of the MITEY network
    RetirementPlanner.ca
    Free tool 2026 rules

    CPP start age: compare 60 to 70

    You can start your Canada Pension Plan retirement pension any time from 60 to 70. Each month before 65 reduces it by 0.6%; each month after 65 increases it by 0.7%, up to 70. This tool turns your estimate at 65 into the monthly amount at every start age and shows when a later start catches up.

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    Your CPP estimate

    Find it in your Statement of Contributions (My Service Canada Account). 2026 maximum at 65: $1,507.65; average new pension $858.34 (July 2026).
    0% compares dollar totals. A positive rate values earlier cheques more (money you could invest or need sooner).

    Break-even pair

    Monthly at 60
    $704
    −36% vs 65
    Monthly at 70
    $1,562
    +42% vs 65
    Break-even age
    78 and 2 months
    when the later start's total catches up

    Cumulative CPP received (today's dollars)

    $0$125k$250k$375k$500k6065707580859095
    Start at 60Start at 65Start at 70

    60 vs 65: breaks even at about 73.8 · 65 vs 70: breaks even at about 81.8 · 60 vs 70: breaks even at about 78.2

    Every start age from 60 to 70

    StartAdjustmentMonthlyTotal by 75Total by 80Total by 85Total by 90Total by 95
    60−36%$704$126,720$168,960$211,200$253,440$295,680
    61−28.8%$783$131,578$178,570$225,562$272,554$319,546
    62−21.6%$862$134,534$186,278$238,022$289,766$341,510
    63−14.4%$942$135,590$192,086$248,582$305,078$361,574
    64−7.2%$1,021$134,746$195,994$257,242$318,490$379,738
    650%$1,100$132,000$198,000$264,000$330,000$396,000
    66+8.4%$1,192$128,779$200,323$271,867$343,411$414,955
    67+16.8%$1,285$123,341$200,429$277,517$354,605$431,693
    68+25.2%$1,377$115,685$198,317$280,949$363,581$446,213
    69+33.6%$1,470$105,811$193,987$282,163$370,339$458,515
    70+42%$1,562$93,720$187,440$281,160$374,880$468,600

    2026 rules: −0.6% for each month before 65 (−36% at 60) and +0.7% for each month after 65 (+42% at 70). CPP is indexed to inflation, so amounts stay in today's dollars. Survivor benefits, the post-retirement benefit, taxes and OAS/GIS interactions aren't included. Quebec workers receive QPP from Retraite Québec, which has its own rules.

    Educational estimate, not advice. Results depend on your inputs and the assumptions listed. They are not a prediction of returns or a recommendation. Check benefit amounts in your My Service Canada Account and tax details with the CRA. Read the disclaimer.

    How to use this tool

    1. Enter your estimated CPP at 65 from your My Service Canada Account statement.
    2. Optionally add a real discount rate.
    3. Compare monthly amounts and cumulative totals at each age.

    The break-even age, and what it ignores

    If you compare raw totals in today's dollars, starting at 70 instead of 65 catches up a little before age 82, and 70 instead of 60 catches up around 78. If you expect to live past those ages, the later start pays more in total; if not, the earlier start does.

    Break-even comparisons leave out things that often matter more: how long you actually expect to live (no one knows), whether you need the income earlier, whether delaying lets you draw RRSP money in lower tax years, survivor benefits for a spouse, and the security of a larger inflation-indexed income in your late 80s and 90s.

    Adding a discount rate

    A real discount rate values money received sooner more highly — reflecting what you could earn by investing it, or simply a preference for income now. With a positive rate, break-even ages move later. Try 2% to see how sensitive the answer is.

    Frequently asked questions

    Can I stop working to start CPP early?
    You don't need to stop working to start CPP. If you work while receiving CPP before 70, you can make contributions that build the post-retirement benefit (maximum $54.69 a month in 2026).
    Is there any reason to wait past 70?
    No. The increase stops at 70, so applying later only means missed payments. Service Canada can backdate some payments, but you should apply in time.
    Does this apply to the QPP?
    The Quebec Pension Plan, run by Retraite Québec, has similar but not identical adjustment rules. Use Retraite Québec's own estimates if you contributed to the QPP.

    Official sources

    Figures checked October 30, 2026. Rules and amounts change; confirm current details on the official pages above.