Start CPP at 60 and an $858.34 pension shrinks to $549.34 a month. Wait until 70 and it grows to $1,218.84. Type your own amount at 65 into the CPP calculator, pick a start age, and you’ll see the gap per month and per year.
How much does your start age change the pension?
Everything is measured from age 65. Start earlier and the pension is cut for every month you’re short of 65. Start later and it gets a bump for every month past it. And the change doesn’t wear off, so whatever you pick at 60 or 70 stays with you for life.
| Item | Value |
|---|---|
| Cut for each month before 65 | 0.6% |
| Largest cut, at age 60 | 36% |
| Rise for each month after 65 | 0.7% |
| Largest rise, at age 70 | 42% |
| Largest pension at 65, January 2026 | $1,507.65 a month |
| Average at 65 for new pensioners | $858.34 a month |
What an $858.34 pension looks like at each age
The default figure is the average for new pensioners, so it’s a fair place to start. Here’s what moving the start date does to it.
- Start at 60: $549.34 a month, or 36% less.
- At 62 you get $672.94 a month, or 21.6% less, which is $8,075 a year.
- The pension at 65 is $858.34 a month, or $10,300 a year.
- Waiting to 68 lifts it to $1,074.64 a month, or 25.2% more, which is $12,896 a year.
- Waiting to 70 gives $1,218.84 a month, or 42% more, which is $14,626 a year.
Someone who starts at 70 collects $360.50 a month more than at 65, but has gone five years without a cheque. Your health, your other savings and how badly you need the cash decide which age suits you.
Is it better to start early or wait?
There’s no single answer, and anyone who gives you one is guessing. Starting at 60 means five extra years of cheques, each one 36% smaller. Waiting until 70 means a pension 42% higher, but only after five years of nothing. Set the yearly figures above beside your other income and your health, and the choice usually gets clearer.
Where do I find my amount at 65?
The first field wants the monthly amount your record would pay at 65. Your online service account and the federal pension pages show it. The second mode gives a rough guess from years worked and average earnings. It isn’t an official figure, and it rests on an assumption about how long a full record is. Official rules drop up to eight of your lowest years for the base part and use your best 40 years for the enhanced part. So treat that mode as a starting point, nothing more.
What the calculator leaves out
Working while you draw CPP can add a small post-retirement benefit, and the calculator skips it. It also ignores the option to start up to 11 months back if you apply after 65. Survivor, disability and death benefits follow other rules and aren’t modelled. Tax isn’t shown either, though the pension is added to your other income.
Amounts change every year with the cost of living, so an old statement can be out of date.
How does CPP fit with your other income?
CPP is only one piece. Old Age Security is another, and the OAS calculator finds it. Add savings and you have a plan, which the retirement savings calculator tests against your spending. To see how much tax your pension income would attract, use the retirement income tax calculator.
Where the numbers come from
The percentages, maximums and averages come from the federal pension pages, which we read in September 2026. Results are estimates. This website has no tie to any government body.
Frequently asked questions
How much does CPP drop if I start at 60?
You lose 0.6% for each month before 65, up to 36%. An $858.34 pension turns into $549.34.
How much does it rise if I wait?
You gain 0.7% for each month after 65, up to 42% at age 70. That same pension becomes $1,218.84.
What is the largest CPP pension in 2026?
$1,507.65 a month at age 65. That's the January 2026 figure.
What is the average CPP amount at 65?
New pensioners get $858.34 a month on average, as published in July 2026.
Can I keep working while I get CPP?
Yes. Contributions are required until 65 and optional from 65 to 70, and they earn a post-retirement benefit.
Sources and updates
Updated: . How we check rates · Editorial team · Updates
Estimate only. These figures are a planning estimate, not tax, legal or accounting advice. Tax-Services.ca is an independent publisher: we don't prepare or file tax returns, and we don't offer tax, legal or accounting services. We have no connection with the Canada Revenue Agency, Revenu Québec or any provincial government. Your real amounts depend on details this tool cannot see, so confirm them with an official source or a qualified professional before you act.