CPP at 60 vs 70 Calculator
Starting CPP at 60 pays 36% less; waiting until 70 pays 42% more. The right choice depends on how long you live — this calculator shows the monthly amounts at each age and the exact age where delaying starts to win.
How to use this calculator
- Enter estimated CPP at age 65 (per month).
- Enter start CPP at age.
- Enter or wait until age.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
The CPP pension is actuarially adjusted based on when you start: claiming before 65 reduces it by 0.6% per month (0.6% × 60 months = 36% at age 60), and delaying past 65 increases it by 0.7% per month (0.7% × 60 = 42% at age 70). This calculator applies those 2026 rules to your estimated pension at 65, then finds the age where the cumulative payments from claiming later catch up to claiming early — the break-even age. Worked example: the average new 2026 CPP pension of $877.01 a month pays about $561 a month if you start at 60 and $1,245 if you wait to 70. You give up roughly $67,300 of payments while waiting, and the extra $684 a month recovers that in about 98 months — a break-even age near 78. Past 78, waiting has paid for itself; below it, starting early was the better call.
Frequently asked questions
Is it better to take CPP at 60 or 70?
Mathematically it is a bet on your lifespan: if you live past roughly 78 (for 60 vs 70), waiting wins — the break-even age is remarkably stable across income levels because the reduction and increase rates are proportional. Financially, waiting is the better deal for most people who are healthy, expect to live into their 80s, and can bridge the gap from other savings. The pension is indexed to inflation either way.
What if I keep working while collecting CPP?
If you work while receiving CPP before 70, you keep contributing and earn the post-retirement benefit (PRB), which adds a small permanent increase to your pension each year — the maximum new PRB in 2026 is $54.69 a month for someone who hit the earnings ceiling at 65. This extra tilts the math slightly further toward delaying or continuing to work.
How much CPP will I actually get?
The maximum monthly CPP at 65 in 2026 is $1,507.65, but the average new pension is $877.01 — most people receive well under the maximum because it requires roughly 39 years of contributions at or near the earnings ceiling. Use your Service Canada statement (My Service Canada Account) for your real number; this calculator applies the 0.6%/0.7% adjustment to whatever estimate you enter.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect the current tax year and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: canada.ca tax rates · CPP rates · CMHC mortgage insurance.